Wall Street Legends No 21 - Edward Francis Hutton

E F Hutton

Edward Francis Hutton (September 7, 1875, New York City - July 11, 1962, Brookville, Long Island, New York) was an American financier and co-founder of E. F. Hutton & Co.

Edward Hutton was born to James Laws Hutton, who left an Ohio 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 to be raised by his mother, Frances Elouise Hulse 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.

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 influenza pandemic. 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. 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.

His second wife was General Foods heiress, Marjorie Merriweather Post, whom he married in 1920. During their marriage they built several famous houses including Hillwood a Tudor revival style mansion on Long Island's North Shore, Mar-A-Lago (now owned by Donald Trump and operated as the Mar-a-Lago Club) in Palm Beach, Florida, and the largest privately owned sea-going yacht of the era, the Hussar IV, which is best known as the Sea Cloud. Their only child, actress Dina Merrill (born Nedenia Marjorie Hutton) for years served as the only female director on the board of the E. F. Hutton & Co. her father founded in 1914. The Huttons divorced in 1935. In February 1936 he married twenty eight year old Dorothy Dear Metzger.

E.F. Hutton merged in 1988 with Shearson Lehman/American Express.

Source - www.wikipedia.com

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