[1] Talcott began his business career in 1854 in New York as a selling agent for a knitting mill in New Britain, Connecticut.

[1] Talcott's son was Harvard graduate James Frederick (1866–1944), who joined his father's business full time in 1879.

[5] He died at Lake Mohonk, New York on August 21, 1916, at the age of 86, and was buried at Cedar Hill Cemetery in Hartford.

[2][5][6] In 1921, a year after a donation of around $250,000 from Henrietta, the Church of Sweden in New York, on East 48th Street, was rebuilt in a Gothic style.

[2] Along with Dwight L. Moody, Talcott was also a founder and trustee of Northfield Seminary in Massachusetts, and he and his wife funded a professorship at Barnard College.