Name Edward Clark Children Alfred Corning Clark | Role Businessman Organizations founded Singer Corporation | |
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Similar People Henry Janeway Hardenbergh, Isaac Singer, Stephen Carlton Clark, Robert Sterling Clark | ||
Edward Cabot Clark (December 19, 1811 – October 14, 1882) was an American lawyer, businessman and investor.
He was the patent attorney and business partner of Isaac Merritt Singer, and they co-founded the Singer Sewing Machine Company in 1851. They began investing in New York City real estate in the 1870s. Clark built The Dakota, an apartment house at 72nd Street and Central Park West, but died before the building's completion in 1884. He bequeathed it to his 12-year-old grandson and namesake, Edward Severin Clark.
In 1835, Clark married Caroline Jordan (1815–1874), and they had four children: Ambrose Jordan Clark (1836–1880), Edward Lorraine Clark (1838–1860), Julia Clark (1841–1841), Alfred Corning Clark (1844–1896). Three of Clark's children predeceased him, and Alfred was the only one to marry and have children: Edward Severin Clark, F. Ambrose Clark, Robert Sterling Clark, Stephen Carlton Clark.
In 1856, Clark created the hire-purchase plan, which was the first American installment plan.
In 1869, Clark built "Fernleigh," a country house near Cooperstown, New York, on the shore of Otsego Lake.