Edward Francis Hutton

Edward Francis Hutton
Born (1875-09-05)September 5, 1875
Manhattan, New York City, U.S.
Died July 11, 1962(1962-07-11) (aged 86)
Old Westbury, New York, U.S.
Education New York Latin School
Spouse(s)
Blanch Horton
(m. 1900; d. 1918)

Marjorie Merriweather Post
(m. 1920; div. 1935)

Dorothy Dear Metzger
(m. 1936)
Children Halcourt Horton Hutton
Dina Merrill
Relatives Barbara Hutton (niece)

Edward Francis Hutton (September 7, 1875 – July 11, 1962) was an American financier and co-founder of E. F. Hutton & Co., one of the largest financial firms in the United States.[1]

Early life

Hutton was born in Manhattan, New York City, the son of James Laws Hutton (1847–1885), who left an Ohio farm to work there. James died on December 14, 1885 at the age of 37 when Hutton was only ten years old, leaving Edward and his two siblings, Grace Hutton (b. 1873) and Franklyn Laws Hutton (1877–1940) to be raised by their mother, Frances Elouise Hulse Hutton (1851–1930). Hutton's younger brother, Franklyn, married Edna Woolworth, the dime store heiress and was the father of Barbara Hutton.

As a schoolboy, Hutton attended the New York Latin School before transferring to P.S. 69. During his adolescence, he worked in a gear factory at age fifteen and then two years later in the mailroom of a securities firm. He completed his studies by taking classes at Trinity Chapel High School and Packer's Business College.

Career

In 1904, Hutton and his brother Franklyn Laws Hutton founded the American stock brokerage firm E. F. Hutton & Co.[1] Under their leadership, it became one of the most respected financial firms in the United States and for several decades was the second largest brokerage firm in the United States. E.F. Hutton merged in 1988 with Shearson Lehman/American Express.

In 1963 Dorothy Metzger Hutton sold their Old Westbury estate Hutfield to Long Island University. Today Hutfield is the Fine Arts Center at LIU Post.

Personal life

He married his first wife Blanch Horton (December 6, 1878 – December 18, 1917) on October 9, 1900. Blanche was the daughter of investment banker Henry Lawrence Horton. She died in the early days of the 1918 Spanish Flu influenza pandemic. Blanch and Edward had one son:

  • Halcourt Horton Hutton (1902–1920), who was killed in a horse riding accident on Long Island on September 25, 1920.

He married his second wife, General Foods heiress, Marjorie Merriweather Post, in 1920. During their marriage (1920–1935) they built Mar-a-Lago in Palm Beach, Florida; and also commissioned the largest privately-owned seagoing yacht of the era, the Hussar V, which is best known as the Sea Cloud. The Huttons divorced in 1935 after evidence of Hutton's affairs with other women became known to Marjorie. Together they had one child:

  • Nedenia Marjorie Hutton, an actress known as Dina Merrill, who for years served as the only female director on the board of E. F. Hutton & Co.

In February 1936, at age 60, he married twenty-eight-year-old Dorothy Dear Metzger, who had just divorced her husband, Homer, the previous October. E.F. met Dorothy through Marjorie's daughter Adelaide, who had invited Dorothy and her husband to spend a weekend with her and other friends at Hillwood. Dorothy and Homer P. Metzger had one daughter, who became Edward's stepdaughter upon the marriage:

  • Nancy Joan Metzger, who inherited a portion of her stepfather's estate when he died.

Hutton died on July 11, 1962, in Old Westbury, New York.[1][2]

References

  1. 1 2 3 "Edward F. Hutton, Financier, 86, Dies". The New York Times. July 12, 1962. Retrieved 2015-01-07. Edward Francis Hutton, founder of the New York Stock Exchange firm of E.F. Hutton Co. and former chairman of the General Foods Corporation, died yesterday at his home, Hutfield, on Wheatly Road, Westbury, L. I. He was 86 years old.
  2. ↑ "E. F. Hutton, 86, Dies; Broker and Financier". Chicago Tribune. July 12, 1962. Retrieved 2015-01-07.
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