Edward Francis Hutton
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Edward Francis Hutton (September 7, 1875 in New York City – July 11, 1962 in Westbury, Long Island, New York) was an American financier and co-founder of E. F. Hutton & Co., one of the most respected financial firms in the United States.
Hutton was born to James Laws Hutton, (b. March 31, 1847) 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 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, 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 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 Spanish Flu influenza pandemic. Edward and Blanch had one son, Halcourt Horton Hutton, who was born in New York City on May 7, 1902. 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. E.F. Hutton merged in 1988 with Shearson Lehman/American Express.
His second wife was General Foods heiress, Marjorie Merriweather Post, 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 (now owned by Donald Trump and operated as the Mar-a-Lago Club) in Palm Beach, Florida, and the largest privately owned seagoing yacht of the era, the "Hussar V", 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. 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 1951, Long Island University purchased Marjorie's Hillwood estate and created C.W. Post College, now known as LIU Post. In 1963 Dorothy Metzger sold their Old Westbury estate Hutfield to Long Island University. Today Hutfield is the Fine Arts Center at LIU Post.
- "Edward F. Hutton, Financier, 86, Dies" (July 12, 1962). New York Times, p. 29.