W. Lyman Biddle (1853-1920) was the son of Thomas and Julia Biddle. He received his education in Dr. Ferris Select School in Philadelphia, and prepared for college at St. Paul's Preparatory School in Concord, New Hampshire. Then he graduated from Princeton University with a Bachelor of Arts in 1874. He spent 2 years traveling outside the US until he returned and entered a broker's office in New York City. In 1878, William returned to Philadelphia to be part of his father's business "Thomas A. Biddle Co" on 424 Chestnut Street.

Thomas A. Biddle & Co. was a Philadelphia-based firm of bankers and brokers. The company was founded by members of the prominent Biddle family. Also the Biddle family were partners in the jewelry store Bailey, Banks and Biddle.

The Biddle family like many settlers from Europe, wanted to get away from mostly religious persecution. One of the families that came to America was the Biddle family with the one and only William Penn. William Biddle purchased land in West New Jersey from Penn in 1676.