They had four children: Thayer's wife, Marian, boarded one of the lifeboats as a First Class passenger and survived the Titanic's sinking.

From February, 1889, to May, 1892, Thayer was out of railway work before returning to the PRR in May, 1892, as division freight agent of the Northern Central, with headquarters at Baltimore, MD.

In May 1899, he was appointed general freight agent also of the Northern Central, the Philadelphia, Wilmington & Baltimore, and the West Jersey & Seashore.

A minute adopted by the Board of Directors of the Pennsylvania Railroad after his death said in part: In recording the terrible fate of a valued officer, and beloved and respected associate, we desire to pay fitting tribute to his memory and bear testimony to his great worth to the company, not only as an officer, but in its highest councils.

Mr. Thayer was thoroughly equipped for the high office which he held, by his long service in the traffic department of the company, having discharged the duties of various official positions with the same diligence, intelligence and skill which were manifested and more highly developed in his executive life, until, through the channels of work well done and achievements of lasting importance, his name finds place on the roll of honor of those who have served the company faithfully and well: while to those who labored side by side with him his memory, though darkened by the tragic ending of his life at the high tide of his usefulness, is made more dear by the characteristic manhood and heroism with which he accepted his fate- His true value to the company did not consist alone in his ability as an executive officer and prominent standing as a traffic authority; his alert mind and power of ready expression made for much in argument, debate and negotiation, and never were the interests of the company safer than in his hands.

A man in all that endears men to men, of genial nature, with an affable manner and a ready appreciation of humor, he was a charming companion and beloved by all who knew him, while the example of his integrity, honorable dealing and clean life is an inspiration alike to friends, associates and subordinates.

In the spring of 1912 Thayer and his family had been in Europe as guests of the American Consul General in Berlin, Germany.

[1][7] His son Jack dove from the sinking ship and was able to swim to an overturned collapsible boat, where he also survived.