Name Edward Hutton | Role Financier | |
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Died July 11, 1962, Westbury, New York, United States Children Dina Merrill, Halcourt Horton Hutton Parents Frances Elouise Hulse Hutton, James Laws Hutton Siblings Franklyn Laws Hutton, Grace Laws Hutton Similar People Marjorie Merriweather Post, Dina Merrill, Barbara Hutton, Eleanor Post Hutton, Stanley M Rumbough - Jr | ||
Edward Francis Hutton (September 7, 1875 – July 11, 1962) was an American financier and co-founder of E. F. Hutton & Co., one of the most respected financial firms in the United States.
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Early life
Hutton was born in Manhattan, New York City, the son of James Laws Hutton (1847–1885), who left an Ohio 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 his mother, Frances Elouise Hulse Hutton (1851–1930). Hutton's younger brother, Franklyn, married Edna Woolworth, the dime store heiress and was the father of Barbara Hutton.
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/American Express.
In 1963 Dorothy Metzger sold their Old Westbury estate Hutfield to Long Island University. Today Hutfield is the Fine Arts Center at LIU Post.
Personal life
He married his first wife Blanch Horton (December 6, 1878 – December 18, 1917) on October 9, 1900. Blanche 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:
He married his second wife, General Foods heiress, Marjorie Merriweather Post, in 1920. During their marriage (1920–1935) they built Mar-a-Lago 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:
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:
Hutton died on July 11, 1962, in Old Westbury, New York.