Marshall Field III (September 28, 1893 – November 8, 1956) was an
American investment banker, publisher, racehorse owner/breeder,
philanthropist, grandson of businessman Marshall Field, heir to the
Marshall Field department store fortune, and a leading financial
supporter and founding board member of Saul Alinsky's community
organizing network Industrial Areas Foundation.
1 Early life
2 Early career
2.1 Publishing industry
4 Death and family
6 Further reading
Born in Chicago, Cook County, Illinois, he was the son of Albertine
Huck and Marshall Field, Jr. He was raised primarily in England, where
he was educated at
Eton College and the University of Cambridge.
In 1917, he joined the 1st
Illinois Cavalry and served with the 122nd
Field Artillery in
France during World War I. He built an estate in
On his discharge after the war, Field returned to
Chicago where he
went to work as a bond salesman at Lee, Higginson & Co. After
learning the business, he left to open his own investment business. A
Guaranty Trust Co.
Guaranty Trust Co. of New York City, he eventually teamed
up with Charles F. Glore and Pierce C. Ward to create the investment
banking firm of Marshall Field, Glore, Ward & Co. In 1926, Field
left the firm to pursue other interests.
Already a recipient of substantial money from the estate of his
grandfather Marshall Field, on his 50th birthday he inherited the bulk
of the remainder of the family fortune. His brother, Henry
Field, who was to have shared in the fortune, had died in 1917.
He was primarily a publisher, and in late 1941 he founded the Chicago
Sun, which later became the
Chicago Sun-Times. The primary investor in
the newspaper PM, he eventually bought out the other investors to
become the publisher. He also created Parade as a weekly magazine
supplement for his own paper and for others in the United States. By
1946, Parade had achieved a circulation of 3.5 million.
Marshall Field III formed the private holding company Field
Enterprises. That same year, he purchased Simon & Schuster and
Pocket Books. After his death, his heirs sold the company back to its
Richard L. Simon and M. Lincoln Schuster, while Leon Shimkin
and James M. Jacobson acquired Pocket Books.
Golden Corn, a racehorse owned by
Marshall Field III, painted by
Lynwood Palmer in 1922
A polo player, Field invested heavily in
Thoroughbred racehorses in
United States and in Great Britain. Among his successful British
horses were three fillies, who won the Irish Oaks, Golden Corn, who
Middle Park Stakes and Champagne Stakes in 1921 and the
July Cup in 1923. In the United States, Nimba was the 1927 American
Champion Three-Year-Old Filly, and Tintagel won the 1935 Futurity
Stakes and was voted American Champion Two-Year-Old Colt.
In 1926, one year after his estate was built,
Marshall Field partnered
with Robert A. Fairbairn, William Woodward, Sr., and Arthur B. Hancock
Sir Gallahad III
Sir Gallahad III from
France to stand at stud in the United
States. One of their horses, named Assignation, born in 1930, was the
great-great grandfather of Secretariat.
Marshall Field III Estate is a mansion built in 1925 on Long
Island Sound which was designed by architect John Russell Pope. It was
built on the grounds of a 1,400-acre (5.7 km2) estate, now called
Caumsett State Historic Park Preserve, which he purchased in 1921.
It is a New York State Historic Site.
Field supported a number of charitable institutions and in 1940
created the Field Foundation. He personally served as president of the
Child Welfare League of America. He also donated substantial funds to
New York Philharmonic
New York Philharmonic symphony orchestra and served as its
Death and family
Marshall Field (William Orpen, 1921)
Field died in 1956 of brain cancer. His widow and third wife, Ruth
Pruyn Field, who had previously been married to sportsman Ogden
Phipps, died on January 25, 1994, at 86. They had two daughters,
Phyllis Field and Fiona Field.
By his first wife, Evelyn Marshall, he had daughters Barbara Field and
Bettina Field and son
Marshall Field IV. By his second wife, of whom
he was the second husband, Audrey Evelyn James (April 21, 1902 -
February 14, 1968), whom he married on August 18, 1930, and divorced
in Reno, Washoe County, Nevada, in 1934, he left no issue.
^ IAF: 50 Years Organizing for Change, p. 7.
^ Horwitt, Let Them Call Me Rebel, pp. 102-103.
^ "Business: Field from Glore". Time. July 8, 1935. Retrieved January
^ September 27, 1943. "The Press:
Marshall Field at Work". Time.
Retrieved January 23, 2016.
^ "Henry Field Dies In Hospital Here. Grandson of the Late Marshall
Field Suffers Relapse After an Operation. His Bride At Bedside. Had
Been Active in Management of the
Chicago Store Founded by His
Grandfather". New York Times. July 9, 1917. Retrieved 2015-08-07.
Henry Field, grandson of the late Marshall Fleld of Chicago, died
yesterday morning at the Presbyterian Hospital, following an
operation. He had been ill for several weeks, and was operated upon an
Thursday by Dr. Adrian Lambert. It
^ "Owns The
Chicago Sun: Field Enterprises, Inc., Organized By
Marshall Field," The New York Times, 1 September 1944, page 22.
^ a b Kennedy, Karen Morey (January 5, 1979). "National Register of
Historic Places Inventory/Nomination: Marshall Field, III, Estate
(Caumsett) / Caumsett State Park". Retrieved 2008-02-28. and
Accompanying 16 photos, exterior and interior, from 1975 and 1976
^ "Ruth Pruyn Field, 86; Promoted Civic Causes". The New York Times.
January 28, 1994. Retrieved January 23, 2016.
Marshall Field III; a biography (1964) Simon &
Madsen, Axel. The Marshall Fields: The Evolution of an American
Business Dynasty (2002) Wiley ISBN 0-471-02493-7
Marshall Field brief bio at the U.K. National Horseracing Museum
University of Illinois, Department of English - May, 1917
International Socialist Review article by
Carl Sandburg titled "Will
Marshall Field III. Enlist?"
Illinois National Guard article on Marshal Field IIIs service in WWI
Marshal Field III and the Caumsett State Historic Park
Harvard Business School – 20th Century Great American Business
The Field Foundation
Simon & Schuster and
Pocket Books are sold to
Marshall Field III
ISNI: 0000 0001 0983 6945