Edward Francis Hutton
Encyclopedia
Edward Francis Hutton was an American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
financier and co-founder of E. F. Hutton & Co.
E. F. Hutton & Co.
E. F. Hutton & Co. was an American stock brokerage firm founded in 1904 by Edward Francis Hutton, his brother Franklyn Laws Hutton, and later led by well known Wall Street trader Gerald M. Loeb. Under their leadership, Hutton became one of the most respected financial firms in the United States...
Edward Hutton was born to James Laws Hutton, (b. March 31, 1847) who left an Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
farm to work in New York City. 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 b. Aug. 25, 1873 and Franklyn Laws b. Dec. 1, 1877, d. Dec. 6, 1940) to be raised by his mother, Frances Elouise Hulse Hutton (b. May 26, 1851 - d. Sept. 12, 1930). As a schoolboy, Hutton attended the New York Latin School before transferring to P.S. 69. During his adolescence
Adolescence
Adolescence is a transitional stage of physical and mental human development generally occurring between puberty and legal adulthood , but largely characterized as beginning and ending with the teenage stage...
, 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.
He married his first wife Blanche Horton (b. Dec.6 1884) on October 9, 1900. Blanche was the daughter of investment banker Henry Lawrence Horton. They had one son named Halcourt Horton Hutton, who was born in New York City on May 7, 1902. Blanche died on December 18, 1917 in the Spanish Flu
Spanish flu
The 1918 flu pandemic was an influenza pandemic, and the first of the two pandemics involving H1N1 influenza virus . It was an unusually severe and deadly pandemic that spread across the world. Historical and epidemiological data are inadequate to identify the geographic origin...
influenza pandemic
Influenza pandemic
An influenza pandemic is an epidemic of an influenza virus that spreads on a worldwide scale and infects a large proportion of the human population. In contrast to the regular seasonal epidemics of influenza, these pandemics occur irregularly, with the 1918 Spanish flu the most serious pandemic in...
. Their son Halcourt was killed in a horse riding accident on Long Island on September 25, 1920.
In 1904, Hutton, his brother Franklyn Laws Hutton, and Gerald M. Loeb founded the American stock brokerage firm E. F. Hutton & Co.
E. F. Hutton & Co.
E. F. Hutton & Co. was an American stock brokerage firm founded in 1904 by Edward Francis Hutton, his brother Franklyn Laws Hutton, and later led by well known Wall Street trader Gerald M. Loeb. Under their leadership, Hutton became one of the most respected financial firms in the United States...
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.
His second wife was General Foods
General Foods
General Foods Corporation was a company whose direct predecessor was established in the USA by Charles William Post as the Postum Cereal Company in 1895. The name General Foods was adopted in 1929, after several corporate acquisitions...
heiress, Marjorie Merriweather Post
Marjorie Merriweather Post
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, whom he married in 1920. During their marriage (which ended in divorce in 1935) they built several famous houses including Hillwood, a Tudor revival style mansion on Long Island's North Shore, Mar-A-Lago
Mar-A-Lago
Mar-A-Lago , built 1924-1927, is the name of the Marjorie Merriweather Post estate in Palm Beach, Florida. Post built the house with her husband, Edward F. Hutton. The house was designed by Joseph Urban. Upon her death in 1973 Marjorie Post willed the estate to the U.S. Government as a retreat...
(now owned by Donald Trump
Donald Trump
Donald John Trump, Sr. is an American business magnate, television personality and author. He is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts. Trump's extravagant lifestyle, outspoken manner and role on the NBC reality show The Apprentice have...
and operated as the Mar-a-Lago Club) in Palm Beach, Florida
Palm Beach, Florida
The Town of Palm Beach is an incorporated town in Palm Beach County, Florida, United States. The Intracoastal Waterway separates it from the neighboring cities of West Palm Beach and Lake Worth...
, and the largest privately owned sea-going yacht of the era, the "Hussar V", which is best known as the Sea Cloud. Their only child, actress Dina Merrill
Dina Merrill
-Early life:Merrill was born Nedenia Marjorie Hutton in New York City, New York, the only child of Post Cereals heiress Marjorie Merriweather Post and her second husband, Wall Street stockbroker Edward Francis Hutton...
(born Nedenia Marjorie Hutton) for years served as the only female director on the board of the E. F. Hutton & Co. The Huttons divorced in 1935 after evidence of Hutton's affairs with other women became known to Marjorie.
In February 1936 he married twenty-eight year old Dorothy Dear Metzger, who had just divorced her husband, Homer, the previous October. Dorothy originally met E.F. through Marjorie's daughter Adelaide who had invited Dorothy and Homer to spend a weekend with her and other friends at Hillwood. Dorothy and Homer P. Metzger had one daughter, Nancy Joan Metzger, who inherited a portion of her stepfather's estate when he died.
In 1950, Long Island University purchased Marjorie's Hillwood estate and created C.W. Post College. In 1963 Dorothy Metzger sold their Old Westbury estate Hutfield to Long Island University. Today Hutfield is the Fine Arts Center of the C.W. Post Campus of Long Island University.
Hutton's younger brother, Franklyn Laws Hutton (1877–1940), married Edna Woolworth, the dime store heiress and was the father of Barbara Hutton
Barbara Hutton
Barbara Woolworth Hutton was an American socialite dubbed by the media as the "Poor Little Rich Girl" because of her troubled life...
.