Citizenship USA Died 1940 | Name Kenyon Painter | |
Occupation big game hunter, banker | ||
Kenyon Painter was an American banker and noted big game hunter. He was convicted of misapplication of funds from his bank, and sentence to 1 – 30 years in prison.
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– Kenyon V. Painter, as the leader of the largest bank in Cleveland, was extremely generous. Supporting the Cleveland Museum of Art, as well as being a major sponsor of churches, and one of the founders, along with his wife Mary Painter, of Western Reserve University, now known as Case Western University. One of the first universities in the county dedicated to the education of women. He was well known not only for his generosity, but for his sporting lifestyle, including many safaris with President Teddy Roosevelt. He was also involved in early car races and a local cricket player in the athletic club in Cleveland. Under his bank leadership, Union Trust built what was the second largest building at the time, now known as the Huntington Building in Cleveland. Additionally, Mr. Painter, made major investments in East Africa experimenting with the introduction of coffee and tea plantations in order to provide opportunities and economic growth for the area. During the depression, Mr. Painter lost the majority of his wealth, however, his bank continued to operate profitably. In 1933, during a bank holiday regulatory bank officials ordered the bank closed. This decision was widely considered to be politely motivated due to Kenyon’s affiliation with Teddy Roosevelt, and the Republican Party. Proof of this is offered with the fact that all investors were fully paid on all accounts. Kenyon, in an effort to boost the stock value of Union Trust took a 3 million dollar loan with which he purchased stock in Union Trust. After the bank was ordered shut down, he was unable to repay the loan and was convicted of malfeasants and spent a brief amount of time in prison before he was released due to his declining health, and died shortly thereafter.
African businesses
When the area became Tanganyika, Painter invested heavily in the region, buying 11,000 acres of land outside Arusha which he turned into a coffee plantation. He also built a post office, church, hospital, hotel, and a coffee research center. His total investment topped US$11,000,000.
Death
He died of a heart attack 20 March 1940.