2025 -- S 0372
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S T A T E O F R H O D E I S L A N D
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2025
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S E N A T E R E S O L U T I O N
EXPRESSING CONDOLENCES TO THE M URPHY FAMILY ON THE PASSING OF THE
HONORABLE JOHN M. MU RPHY
Introduced By: Senator Robert Britto
Date Introduced: February 25, 2025
Referred To: Recommended for Immediate Consideration
WHEREAS, John M. Murphy was born and raised in the Fox Point section of Providence 1
to Jeremiah and Catherine Murphy, émigrés from Ireland. John Murphy was the beloved husband 2
of Gracilda “Grace” Murphy, the love of his life, for fifty-five years. Mr. Murphy graduated from 3
Hope High School in 1956 and briefly attended Bryant College before he joined the United States 4
Army, where he served our nation with distinction and honor in Korea from 1958 to 1960; and 5
WHEREAS, After finishing his United States Army obligations, Mr. Murphy entered the 6
workforce and started a successful career in the consumer loans business, eventually resulting in 7
Mr. Murphy becoming the CEO of Beara Capital, Northern National Life Insurance Company 8
and the Home Credit Corporation of Rhode Island. As a banking executive and extraordinary 9
entrepreneur, Mr. Murphy secured billions of dollars in home equity mortgages across the United 10
States. In recognition of his great success, in 1991 and 1992, Inc. Magazine named Mr. Murphy 11
the finance industry’s Entrepreneur of the Year; and 12
WHEREAS, Thanks to Mr. Murphy’s great success and generosity, many deserving 13
institutions have been gifted millions of dollars by Mr. Murphy, including the Rhode Island 14
Foundation, St. Joseph’s Hospital, St. Jude Children’s Research Hospital, the Boys & Girls Clubs 15
of Providence, Assumption Parish Food Ministry, Fatima Hospital, and many other deserving 16
institutions; and 17
WHEREAS, John Murphy’s generosity and compassion for others was almost endless. 18
Mr. Murphy helped to finance the San Miguel School in Providence and the Louverture Cleary 19
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School in Haiti, he financially established an educational alliance for Southeast Asians, and 1
helped to create and underwrite the Major Jeremiah Murphy Scholarship Fund for the children of 2
Providence police officers. Mr. Murphy also developed a scholarship program for students of 3
African-American heritage at Providence College in honor of his good friend, the late Dr. 4
Kenneth Walker, and later endowed, also at Providence College, the Murphy-Healy Irish Lecture 5
series, an annual event on Irish-American culture named in honor of his parents; and 6
WHEREAS, John Murphy was also a dedicated and distinguished public servant. He was 7
elected to the Providence City Council in 1966, and served with distinction and abiding integrity 8
for eight years on the Council. During his tenure on the City Council, Mr. Murphy focused much 9
of his efforts on improving the ability of his constituents to purchase a home. Thanks to his vast 10
knowledge of real estate laws and history, Councilman Murphy succeeded in resurrecting the 11
inactive charter of Home Loan Investment Bank and thanks to his leadership, within a generation, 12
the bank converted to a federal charter, securitized loans on Wall Street, and originated home 13
equity mortgages in 48 states, all of which made it much easier for working people to attain their 14
first homes; and 15
WHEREAS, In addition to his wife, Grace, John Murphy leaves behind his sons, John 16
“Jay” Murphy, Jr., and his wife, Melissa, Kevin Murphy, and his wife, Kate, Brian Murphy, and 17
his wife Amy, and Daniel Murphy. Mr. Murphy was the devoted grandfather of Jane, Kate, Mary 18
Grace, Jeremiah, William, John “Jack” III, Sam, Amelia, Olivia, Lauren and Rory Murphy; now, 19
therefore be it 20
RESOLVED, That this Senate of the State of Rhode Island hereby expresses its deepest 21
condolences to the Murphy Family on the passing of John M. Murphy; and be it further 22
RESOLVED, That the Secretary of State be and hereby is authorized and directed to 23
transmit a duly certified copy of this resolution to Mrs. Gracilda “Grace” Murphy and Family. 24
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