Charles Hayden (July 8, 1870 – January 8, 1937) was an American banker, businessman,

financier An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...

and philanthropist. He was the senior partner of Hayden, Stone & Co. and his influence was such that James W. Gerard listed him among those "who are too busy to hold political office, but determine who shall." Noted contributions bearing his name include the

Hayden Planetarium The Rose Center for Earth and Space is a part of the American Museum of Natural History in New York City. The Center's complete name is The Frederick Phineas and Sandra Priest Rose Center for Earth and Space. The main entrance is located on the n ...

in New York, the Charles Hayden Planetarium at Boston's

Museum of Science The Museum of Science (MoS) is a science museum and indoor zoo in Boston, Massachusetts, located in Science Park, a plot of land spanning the Charles River. Along with over 700 interactive exhibits, the museum features a number of live presentat ...

, and the Charles Hayden Foundation. Instrumental in the financing of Arizona copper mines and smelters, the smelting community of

Hayden, Arizona Hayden is a town in Gila and Pinal counties in Arizona, United States. According to the 2010 census, the population of the town was 662. History Hayden was founded in 1909 and owned by the Kennecott Copper Corp. In 1912, the company built a s ...

was named for him.

Background

Hayden was born in Boston, Massachusetts to Josiah Willard Hayden and Emma A. (Tirrill) Hayden. His father was a shoe and leather merchant and he was educated in the public schools before enrolling at the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

. Hayden studied mining investment and graduated in 1890. Following graduation, he traveled for a year before taking a position as clerk with the Boston bank of Clark, Ward, & Co. Hayden was a bachelor his entire life and lived at the

Savoy-Plaza Hotel The Savoy-Plaza Hotel was a 33-story hotel overlooking Central Park at Fifth Avenue and East 59th Street (Manhattan), 59th Street in Midtown Manhattan, New York City. It opened in 1927 and was demolished in 1965. History Original Savoy Hotel The ...

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

. His hobbies included steeplechase and

bridge A bridge is a structure built to span a physical obstacle (such as a body of water, valley, road, or rail) without blocking the way underneath. It is constructed for the purpose of providing passage over the obstacle, which is usually somethi ...

Career

In 1892, Hayden joined with fellow Clark, Ward, & Co. clerk Galen L. Stone to open Hayden, Stone & Co. Hayden gained a reputation for quick decisions and mastery of the brokerage business. Foreseeing the needs of

electrification Electrification is the process of powering by electricity and, in many contexts, the introduction of such power by changing over from an earlier power source. The broad meaning of the term, such as in the history of technology, economic histor ...

, Hayden made his fortune by investing in

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...

mining. The new investment firm prospered, expanding from its Boston base to open a New York City branch in 1906. In addition to his brokerage firm, Hayden was involved in other business operations. During his lifetime he was appointed

director Director may refer to: Literature * ''Director'' (magazine), a British magazine * ''The Director'' (novel), a 1971 novel by Henry Denker * ''The Director'' (play), a 2000 play by Nancy Hasty Music * Director (band), an Irish rock band * ''D ...

to 89 companies, and held 58 directorships at the time of his death.

Philanthropy

Hayden was involved with philanthropy most of his life. During the

First World War World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, he donated

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

100,000 per year to the American Red Cross. He later became interested in helping youth and in 1926 was revealed to have anonymously donated US$100,000 to establish an uptown New York City branch of the Boys Club. This was followed in 1933 when, at the request of President

Franklin D. Roosevelt Franklin Delano Roosevelt (; ; January 30, 1882April 12, 1945), often referred to by his initials FDR, was an American politician and attorney who served as the 32nd president of the United States from 1933 until his death in 1945. As the ...

, Hayden chaired the Boy Scout Maintenance Fund for the

Boy Scouts of America The Boy Scouts of America (BSA, colloquially the Boy Scouts) is one of the largest scouting organizations and one of the largest youth organizations in the United States, with about 1.2 million youth participants. The BSA was founded ...

. In addition to youth, Hayden routinely donated to aid the poor. In 1934, he donated US$150,000 to New York's American Museum of Natural History for creation of a planetarium which was named after him. This was followed the next year when he headed a committee which raised $9,440,000 to save New York's charitable hospitals.

Charles Hayden Foundation

Hayden's largest philanthropic effort came following his death on January 8, 1937 when his will directed roughly US$50,000,000 ($ in today's dollars) from his estate be used to create a foundation to advance the education and "moral, mental, and physical well-being" of boys and young men. The Charles Hayden Foundation makes grants of between US$10,000,000 and US$20,000,000 annually to support programs for children in the Boston and New York metropolitan areas.Charles Hayden Foundation Grants
Accessed 2014-03-15 The Foundation has also funded the construction of the Charles Hayden Library of humanities and science at Hayden's ''alma mater''

MIT The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the m ...

, and dormitories named Hayden Hall at Stevens Institute of Technology in Hoboken, New Jersey and the New York University School of Law in New York City.

References

{{DEFAULTSORT:Hayden, Charles 1870 births 1937 deaths American bankers American investors American financiers Burials at Mount Auburn Cemetery Massachusetts Institute of Technology alumni Businesspeople from Boston Philanthropists from Massachusetts Stock and commodity market managers