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

Early life

Hutton was born in Manhattan, New York City, the son of James Laws Hutton (1847–1885), who left an

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

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 A variety store (also five and dime (historic), pound shop, or dollar store) is a retail store that sells general merchandise, such as apparel, automotive parts, dry goods, toys, hardware, home furnishings, and a selection of groceries. It us ...

heiress and was the father of

Barbara Hutton Barbara Woolworth Hutton (November 14, 1912 – May 11, 1979) was an American debutante, socialite, heiress, and philanthropist. She was dubbed the "Poor Little Rich Girl"—first when she was given a lavish and expensive debutante ball in 1930 a ...

. 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. 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 Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward ShearsonAmerican Express.

Personal life

He married his first wife Blanch Horton (December 6, 1878 – December 18, 1917) on October 9, 1900. Blanch 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 General Foods Corporation was a company whose direct predecessor was established in the United States by Charles William Post as the Postum Cereal Company in 1895. The company changed its name to "General Foods" in 1929, after several corporate ...

heiress,

Marjorie Merriweather Post Marjorie Merriweather Post (March 15, 1887 – September 12, 1973) was an American businesswoman, socialite, and philanthropist. She was also the owner of General Foods Corporation. Post used much of her fortune to collect art, particularly I ...

, in 1920. During their marriage (1920–1935) they built

Mar-a-Lago Mar-a-Lago ( from the Spanish for ''sea to lake'') is a resort and national historic landmark in Palm Beach, Florida, owned by former U.S. president Donald Trump. Trump acquired Mar-a-Lago in 1985 and referred to it as his "Winter White House ...

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 Old Westbury is a village (New York), village in the Towns of North Hempstead, New York, North Hempstead and Oyster Bay (town), New York, Oyster Bay in Nassau County, New York, Nassau County, on the North Shore (Long Island), North Shore of Long ...

. He is buried in

Locust Valley Cemetery Locust Valley Cemetery is a non-denominational cemetery located in Lattingtown, New York, in Nassau County. The cemetery was founded in the 19th Century and designed by John Charles Olmsted and Frederick Law Olmsted, Jr., renowned architect ...

Locust Valley, New York Locust Valley is a hamlet and census-designated place (CDP) located in the Town of Oyster Bay in Nassau County, on the North Shore of Long Island, in New York, United States. The population was 3,406 at the 2010 census. History The rolling h ...

Notable Residences

* Hillwood, Long Island: Built in 1922 in Brookville, NY after purchasing and demolishing the former Warburton Hall Estate, it was designed in the Tudor style by architect Charles Mansfield Hart. Post would keep it in the divorce and sold it in 1951 to Long Island University which later become

LIU Post LIU Post (formally, the C.W. Post Campus of Long Island University, and often referred to as C.W. Post) is a private university in Brookville, New York. It is the largest campus of the private Long Island University system. The campus is named ...

. * Hogarcito,

Palm Beach, FL Palm Beach is an incorporated town in Palm Beach County, Florida. Located on a barrier island in east-central Palm Beach County, the town is separated from several nearby cities including West Palm Beach and Lake Worth Beach by the Intracoast ...

: Built in 1921 for Hutton and his second wife, and designed by noted society architect

Marion Sims Wyeth Marion Sims Wyeth (February 17, 1889 – February 4, 1982) was an American architect known for his range in styles such as Art Deco, Mediterranean Revival, and classical Georgian, French, and Colonial. He designed numerous mansions in Palm Beac ...

. It is noted for its Spanish-style bell tower that rises some three stories above the main house. Post thought the house was too small so commissioned the building of Mar-a-Lago. After Mar-a-Lago was completed it became the home of E.F. Hutton's brother and business partner Franklyn L. Hutton, whose daughter was Woolworth heiress

. *

: Built in 1927 with his second wife Marjorie Merriweather Post as a winter residence. Post would end up keeping the house after the divorce. * Hutfield, Old Westbury, NY: Lived in with his third wife Dorothy Metzger. 1963 Dorothy Metzger Hutton sold their Old Westbury estate to Long Island University. Today Hutfield is the Fine Arts Center at

Yachts

E.F. Hutton had a passion for yachting and sport fishing and had numerous private yachts built throughout his lifetime. With the exception of ''Lady Baltimore'', he would always named them ''Hussar:''

References

External links

West Palm West Historical Society, Mar-a-Lago
{{DEFAULTSORT:Hutton, Edward Francis 1875 births 1962 deaths 20th-century American businesspeople American financiers American stockbrokers Burials at Locust Valley Cemetery Businesspeople from New York City Chairmen of General Mills Horse-related accidents and incidents Hutton family People from Brookville, New York People from Old Westbury, New York People from Palm Beach, Florida Stock and commodity market managers