Marshall field iii biography

In the early s Marshall Field III, who had established the Chicago Sun, fought his exclusion from the AP service. Prosecution under the federal antitrust powers ended the AP’s restrictive practices. Read More.

Marshall Field III

American investment banker, publisher, racehorse owner, and philanthropist

Marshall Field III (September 28, &#; November 8, ) was an American investment banker, publisher, racehorse owner/breeder, philanthropist, grandson of businessman Marshall Field, heir to the Marshall Fielddepartment store fortune, and a leading financial supporter and founding board member of Saul Alinsky's community organizing network Industrial Areas Foundation.[1][2]

Early life

Born in Chicago, Prepare County, Illinois, he was the son of Albertine Huck, daughter of German businessman Louis Carl Huck, and Marshall Field II.

He was raised primarily in England, where he was educated at Eton College and the University of Cambridge.

During a westbound Atlantic crossing aboard the RMS Lusitania in September , Field became enamoured with fellow passenger Evelyn Marshall, and proposed to her before the liner's arrival in New York, less than a week after sailing from England.[3]

In , he linked the 1st Illinois Cavalry and served with the nd Field Artillery in France during Nature War I.

He built an estate in

Early career

On his discharge after the war, Field returned to Chicago where he went to work as a bond salesman at Lee, Higginson & Co. After learning the business, he left to unseal his own investment business.

A director of Guaranty Trust Co. of New York City, he eventually teamed up with Charles F. Glore and Pierce C. Ward to create the investment banking firm of Marshall Field, Glore, Ward & Co. In , Field left the sturdy to pursue other interests.

Already a recipient of substantial cash from the estate of his grandfather Marshall Field, on his 50th birthday he inherited the bulk of the remainder of the family fortune.[4][5] His brother, Henry Field, who was to have shared in the fortune, had died in [6]

Publishing industry

He was primarily a publisher, and in late he founded the Chicago Sun, which later became the Chicago Sun-Times.

The central investor in the newspaper PM, he eventually bought out the other investors to become the publisher.

Marshall Field, III sitting at desk writing in office. Chicago Daily News, Inc. After learning the business, he left to open his own investment business. A director of Guaranty Trust Co.

He also created Parade as a weekly magazine supplement for his own sheet and for others in the United States. By , Parade had achieved a circulation of million.

In , Marshall Field III formed the private holding company Field Enterprises.[7] That matching year, he purchased Simon & Schuster and Pocket Books.

After his death, his heirs sold the company back to its founders, Richard L. Simon and M. Lincoln Schuster, while Leon Shimkin and James M. Jacobson acquired Pocket Books.

Thoroughbred racing

A polo player, Field invested heavily in Thoroughbredracehorses in the Combined States and in Great Britain.

His grandfather, Marshall Fieldwas an extremely wealthy businessman and he was sent to be educated at Eton College and the University of Cambridge. He enlisted as a private and rose to the rank of captain. After the war he worked as a bond salesman before joining Charles F. Glore and Pierce C.

Among his prosperous British horses were three fillies, who won the Irish Oaks, Golden Corn, who won England's Middle Park Stakes and Champagne Stakes in and the July Cup in In the Combined States, Nimba was the American Champion Three-Year-Old Filly, and Tintagel won the Futurity Stakes and was voted American Champion Two-Year-Old Colt.

In , one year after his estate was built, Marshall Field partnered with Robert A. Fairbairn, William Woodward Sr., and Arthur B. Hancock to import Sir Gallahad III from France to stand at stud in the United States. One of their horses, named Assignation, born in , was the great-great grandfather of Secretariat.[9]

The Marshall Field III Estate is a mansion built in on Prolonged Island Sound which was crafted by architectJohn Russell Pope.

It was built on the grounds of a 1,acre (&#;km2) estate, now called Caumsett State Historic Park Preserve, which he purchased in [10] It is a New York State Historic Site.[10]

Philanthropy

Field supported a number of charitable institutions and in created the Field Foundation.

He personally served as president of the Infant Welfare League of America. He also donated substantial funds to support the New York Philharmonic and served as its president.[citation needed] In Field was the president (or the chairman—sources differ) of the United States Committee for the Care of European Children.[11][12]

Death and family

Field died in of brain cancer.

marshall field iii biography2: Marshall Field III (September 28, – November 8, ) was an American investment banker, publisher, racehorse owner/breeder, philanthropist, grandson of businessman Marshall Field, heir to the Marshall Field department store fortune, and a leading financial supporter and founding board member of Saul Alinsky's community organizing.

His widow and third wife, Ruth Pruyn Field, who had previously been married to sportsman Ogden Phipps, died on January 25, , at [13] They had two daughters, Phyllis Field and Fiona Field.

By his first wife, Evelyn Marshall (the daughter of Charles Henry Marshall), he had daughters Barbara Field and Bettina Field and son Marshall Field IV.

By his second wife, of whom he was the second husband, Audrey Evelyn James, whom he married on August 18, , and divorced in Reno, Washoe County, Nevada, in , he left no issue.

References

  1. ^IAF: 50 Years Organizing for Change, p.

    7.

  2. ^Horwitt, Let Them Dial Me Rebel, pp.
  3. ^Earlier Voyages, Gare Maritime
  4. ^"Business: Field from Glore". Time. 8 July Retrieved 23 January
  5. ^"The Press: Marshall Field at Work".

    Time.

    Marshall Field III was born in Chicago, on 28th September, His grandfather, Marshall Field, was an extremely wealthy businessman and he was sent to be educated at Eton College and the University of Cambridge. Field returned to America and during the First World War served with the nd Field Artillery on the Western Front.

    27 September Retrieved 23 January

  6. ^"Henry Field Dies In Hospital Here. Grandson of the Late Marshall Field Suffers Relapse After an Operation. His Bride At Bedside. Had Been Active in Management of the Chicago Store Founded by His Grandfather"(PDF).

    He was raised primarily in Englandwhere he was educated at Eton College and the University of Cambridge. During a westbound Atlantic crossing aboard the RMS Lusitania in SeptemberField became enamoured with fellow passenger Evelyn Marshall, and proposed to her before the liner's arrival in New York, less than a week after sailing from England. He built an estate in After learning the business, he left to open his possess investment business.

    New York Times. 9 July Retrieved 7 August

  7. ^"Owns The Chicago Sun: Field Enterprises, Inc., Organized By Marshall Field,"The New York Times, 1 September , page
  8. ^"Horseracing History Online - Person Profile&#;: Marshal Field".

    . Archived from the original on 7 November

  9. ^"Secretariat Thoroughbred". .
  10. ^ abKennedy, Karen Morey (5 January ).

    "National Register of Historic Places Inventory/Nomination: Marshall Field, III, Estate (Caumsett) / Caumsett State Park". Retrieved 28 February and Accompanying 16 photos, exterior and interior, from and

  11. ^" child refugees due".

    O n Sept. But Marshall Field III will not hold to wait nine years to become a millionaire because he was 40 times a millionaire when he was a schoolboy. Since then bright, popular, linear Marshall III has done many things of which frosty mature Grandfather Field, who stuck to store-keeping and detested sidelines, would not have approved. Chicagoans first began to like Marshall III in when, after spending most of his youth at Eton and Cambridge, he returned to enlist as a buck confidential in the U.

    The Fresh York Times. 21 June p.&#;9. Retrieved 29 February &#; via Times Machine.

  12. ^" child refugees here from Lisbon". The New York Times. 22 June p.&#; Retrieved 29 February &#; via Times Machine.
  13. ^"Ruth Pruyn Field, 86; Promoted Civic Causes".

    The New York Times. 28 January Retrieved 23 January

Further reading