Magnolia, or, Bull bay (Magnolia foetida)
"It does not appear who first brought Magnolia foetida to the attention of European botanists. The earliest account, that of Plukenet, was published in his “Amaltheum Botanicum” in 1705. […] Magnolia foetida is the most splendid ornamental tree of the North American forests. It is now widely cultivated in the extreme southern states, and has become a striking and beautiful feature in the gardens and streets of many southern cities."
This illustration and the description are from volume one of "The silva of North America" by Charles Sprague Sargent, 1841-1927. (Published by Houghton, Mifflin and Co., 1891-1902)