 & W. Seligman & Co., founded in 1864, was a prominent U.S. investment bank from the 1860s to the 1920s, until the divestiture of its investment banking arm in the aftermath of the Glass–Steagall Act.The firm was involved in the financing of several major U.S. railroads in the 1870s and the construction of the Panama Canal in the early 1900s.Seligman was also involved in the formation of Standard Oil and General Motors.