Joseph Alexander Wilson Iglehart (November 15, 1891 – November 16, 1979) was an American

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 ...

who also served as an executive for the Columbia Broadcasting System (CBS) and two Major League Baseball (MLB)

franchises Franchise may refer to: Business and law * Franchising, a business method that involves licensing of trademarks and methods of doing business to franchisees * Franchise, a privilege to operate a type of business such as a cable television ...

. Born in

Baltimore, Maryland Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...

on November 15, 1891, he graduated from the

Boys' Latin School of Maryland Boys' Latin School of Maryland is an all-boys, university-preparatory school located in Baltimore, Maryland. Founded in 1844, it is the oldest independent, nonsectarian secondary school in the state of Maryland. The school is divided into Lower, ...

in 1910 and

Cornell University Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to tea ...

in 1914. He served in the American military during

World War I 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 ...

, becoming the youngest major in the

United States Army The United States Army (USA) is the land warfare, land military branch, service branch of the United States Armed Forces. It is one of the eight Uniformed services of the United States, U.S. uniformed services, and is designated as the Army o ...

at the time of his appointment in 1917. After the war, he was employed as an

investment banker Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...

by the Wall Street stockbrokerage firm W. E. Hutton & Co., where he eventually became a

partner Partner, Partners, The Partner, or, The Partners may refer to: Books * ''The Partner'' (Grisham novel), by John Grisham, 1997 * ''The Partner'' (Jenaro Prieto novel), 1928 * ''The Partners'' (book), a 1983 book by James B. Stewart * ''Partner'' (m ...

. He was later associated with CBS as an

investor 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 ...

, chairman of the finance

committee A committee or commission is a body of one or more persons subordinate to a deliberative assembly. A committee is not itself considered to be a form of assembly. Usually, the assembly sends matters into a committee as a way to explore them more ...

and, for 47 years starting in 1932, a member of the board of directors. He was one of the investors in a Clarence Miles-led group that successfully purchased the

St. Louis Browns The St. Louis Browns were a Major League Baseball team that originated in Milwaukee, Wisconsin, as the Milwaukee Brewers. A charter member of the American League (AL), the Brewers moved to St. Louis, Missouri, after the 1901 season, where they p ...

from Bill Veeck on September 29, 1953, moving the franchise to Baltimore and renaming it the

Orioles Oriole or Orioles may refer to: Animals * Old World oriole, colorful passerine birds in the family Oriolidae * New World oriole, a group of birds in the family Icteridae Music * The Orioles, an R&B and doo-wop group of the late 1940s and earl ...

for the season. He was appointed the team's chairman of the board after Miles'

resignation Resignation is the formal act of leaving or quitting one's office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the expiration of a term, or choos ...

in early November, 1955. Iglehart eventually became the largest individual shareholder, with a 32% stake in the ballclub, which emerged as a legitimate pennant contender by on the strength of its scouting, player development and farm system. Iglehart was in violation of MLB conflict of interest rules when CBS' purchase of an 80% investment in the

New York Yankees The New York Yankees are an American professional baseball team based in the New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. They are one of ...

was approved by

American League The American League of Professional Baseball Clubs, known simply as the American League (AL), is one of two leagues that make up Major League Baseball (MLB) in the United States and Canada. It developed from the Western League, a minor league ...

team owners on August 13, 1964. He was ordered by league president

Joe Cronin Joseph Edward Cronin (October 12, 1906 – September 7, 1984) was an American professional baseball player, manager and executive. He played in Major League Baseball (MLB) as a shortstop, most notably as a member of the Boston Red Sox. Cronin spe ...

to sell his interest in either the Orioles or CBS."Orioles' Official in Stock Conflict; League Orders Iglehart to Drop Shares in C. B. S.," ''United Press International'' (UPI), Tuesday, November 3, 1964.
Retrieved December 23, 2021 He ended up selling his 64,000 shares to another original Orioles investor, the

National Brewing Company The National Brewing Company was an American brewing company that was founded in Baltimore, Maryland, in 1885. Its Baltimore brewery was located in the city's Highlandtown neighborhood. After World War II, it grew to be the largest brewer in Balti ...

, for $1.6 million on May 25, 1965. The brewery gained controlling interest at 65%, with its

president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...

, Jerold Hoffberger, succeeding Iglehart as board chairman. Oddly enough, the day after the sale, the National Gypsum Company (now part of

Lafarge La Farge, LaFarge or Lafarge can refer to: People * Antoinette LaFarge (1966–), American artist and writer * Christopher Grant LaFarge (1862–1938), American architect and partner in the firm Heins & LaFarge * Christopher Grant La Farge ( ...

), another enterprise of which he was on the board, rechristened in his honor a deep sea tanker that was converted into what was then the world's largest self-unloading

cement A cement is a binder, a chemical substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel ( aggregate) together. Cement mi ...

-carrying

lake freighter Lake freighters, or lakers, are bulk carrier vessels that operate on the Great Lakes of North America. These vessels are traditionally called boats, although classified as ships. Since the late 19th century, lakers have carried bulk cargoes of ma ...

- the '' J.A.W. Iglehart''. After leaving the Orioles, he served on the Yankees' board of directors until the team was sold in January, 1973 to an investment group led by

George Steinbrenner George Michael Steinbrenner III (July 4, 1930July 13, 2010) was an American businessman who was the principal owner and managing partner of Major League Baseball's New York Yankees from 1973 until his death in 2010. He was the longest-serving own ...

. He spent one more season with the Bronx Bombers as a consulting partner. Iglehart died in

Lutherville, Maryland Lutherville is a census-designated place (CDP) in Baltimore County, Maryland, United States. As of the 2010 census it had a population of 6,504. Prior to 2010 the area was part of the Lutherville-Timonium CDP. Within its borders lies the Lutherv ...

on November 16, 1979, just one day after his 88th birthday.

References

External links

Wharton, George. "Great Lakes Fleet Page Vessel Feature - J. A. W. Iglehart,"
Boatnerd.com.
Kennedy, Mac. "BL and The Orioles: Shared Roots," ''Laker Legacy'', Spring 2007: 20.
– The Boys' Latin School of Maryland alumni magazine.

Bibliography

* Miller, James Edward. ''The Baseball Business''. Chapel Hill, NC: The University of North Carolina Press, 1990. * Smith, Sally Bedell. ''In All His Glory: The Life & Times of William S. Paley''. New York: Simon & Schuster, 1990. * New York Yankees Official 1973 Yearbook. {{DEFAULTSORT:Iglehart, Joe Major League Baseball executives Baltimore Orioles owners Businesspeople from Baltimore Cornell University alumni 1891 births 1979 deaths Stockbrokers 20th-century American businesspeople