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William Payne Whitney

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Payne Whitney
Born
William Payne Whitney

March 20, 1876
New York City
DiedMay 25, 1927 (1927-05-26) (aged 51)
Manhasset, New York
EducationGroton School
Alma materYale University
Harvard Law School
Occupation(s)Investor, racehorse owner/breeder, philanthropist
Spouse
​
​
(m. 1902)​
ChildrenJoan Whitney
John Hay Whitney
Parent(s)William Collins Whitney
Flora Payne
RelativesSee Whitney family

William Payne Whitney (March 20, 1876 – May 25, 1927) was an American businessman and member of the influential Whitney family.

Early life

William Payne Whitney was born on March 20, 1876 to William Collins Whitney (1841–1904) and Flora Payne (1842–1893). His siblings included: elder brother, Harry Payne Whitney (1872–1930), Pauline Payne Whitney (1874–1916), and younger sister, Dorothy Payne Whitney (1887–1968).[1]

Whitney was educated at the Groton School. He attended Yale University, where he was a member of Skull and Bones,[2]: 171  Delta Kappa Epsilon, and captained the Yale rowing team. After graduating in 1898, Whitney then studied law at the Harvard Law School, receiving his Bachelor of Laws in 1901.[3]

Career

In addition to a substantial inheritance from his father, Payne Whitney inherited $63,000,000 from his uncle, Col. Oliver Hazard Payne. Amongst his many investments, Whitney had major holdings in banking, tobacco, railroads, mining and oil. He was a member of the board of directors and/or an executive officer of several large corporations, including the City Bank New York, and the Great Northern Paper Company, and the Northern Finance Corporation.[3]

Equestrianism

A horse racing enthusiast in the tradition of his father and brother, Payne Whitney's Greentree Stable, named for their Long Island estate, was a very significant racing and breeding operation for thoroughbred horses.[4]

Philanthropy

Throughout his life, Payne Whitney was involved in philanthropic work for a variety of causes. A trustee of the New York Public Library, in 1923 he gave the library $12,000,000. Whitney made charitable contributions to the rowing team at his alma mater, Yale University, including donating funds to build a dormitory for the crew.[5] Upon his death he made a large bequest to establish the Payne Whitney Psychiatric Clinic at Weill Cornell Medical College in New York City.[6]

Personal life

In 1902, Whitney married Helen Julia Hay (1875–1944),[7] the daughter of then-United States Secretary of State (and former U.S. Ambassador to the United Kingdom) John Hay.[8] Their Stanford White-designed mansion, Payne Whitney House at 972 Fifth Avenue, was a wedding gift from his maternal uncle, Oliver Hazard Payne. The couple also had an estate, Greentree, in Manhasset, New York. Together, they had two children:[7]

Whitney died in 1927 at his Greentree estate.[3] His will bequeathed more than $20 million to the New York Hospital and smaller amounts to other educational and medical institutions. His estate funds contributed to the establishment of the Payne Whitney Psychiatric Clinic at New York-Presbyterian Hospital in 1932.[14][6] Although he had contributed $1,000,000 to the Yale Endowment Fund shortly before his death, sufficient estate funds were also given to Yale to enable construction of the 9½ story Payne Whitney Gym that too was completed in 1932.[15][16] As a tribute to him, a road in Manhasset was named after him, Payne Whitney Lane.

References

  1. ^ "Dorothy Elmhirst, a Founder of New Republic, Dies". The New York Times. December 16, 1968. Retrieved December 12, 2008. London, Dec. 15—Mrs. Dorothy Payne Whitney Straight Elmhirst, philanthropist, pioneer in progressive education and suffragist, died last night at Dartington Hall near ...
  2. ^ "OBITUARY RECORD OF YALE GRADUATES 1926-1927" (PDF). Yale University. August 1, 1927. Retrieved April 22, 2011.
  3. ^ a b c "PAYNE WHITNEY DIES SUDDENLY AT HOME | Financier, 51, Stricken With Indigestion in Tennis Game at Manhasset, L.I. | WIFE SPEEDS TO HIM IN VAIN | He Succumbs in 25 Minutes - Wealth Put at $100,000,000 -- Noted as Sportsman". The New York Times. 26 May 1927. Retrieved 6 March 2017.
  4. ^ Field, Bryan (3 February 1933). "ANOTHER WHITNEY TO ENTER RACING; Mrs. Joan Whitney Payson Is New Member of Family to Register Colors. FOUR OTHERS OWN STRINGS Lasker, Leiter and Misses Davies and Daniels Also Signify Plans to Race Thoroughbreds". The New York Times. Retrieved 6 March 2017.
  5. ^ "PAYNE WHITNEY GAVE MILLION TO YALE FUND; G. P. Day Pays Tribute to His Generosity -- $15,251,270 Now Total of Gifts in Drive". The New York Times. 2 June 1927. Retrieved 6 March 2017.
  6. ^ a b "WHITNEY WILL GIVES MILLIONS TO CHARITY; Value of Legacies to Hospitals and to Education Put at $20,000,000 to $50,000,000. BULK OF ESTATE TO FAMILY F.P. Dunne and Two Other Friends Get $500,000 Each -- Two Horses Go to Brother. WHITNEY WILL GIVES MILLIONS TO CHARITY". The New York Times. 7 June 1927. Retrieved 6 March 2017.
  7. ^ a b "MRS. PAYNE WHITNEY DIES IN HOSPITAL, 68 | As Head of Greentree Stable Was Leading Woman Owner of the American Turf | WON DERBY IN 1931, 1942 | Former Helen Hay, Daughter Ex-Secretary of State - Husband Left $178,000,000". The New York Times. 25 September 1944. Retrieved 6 March 2017.
  8. ^ Times, Special To The New York (5 February 1902). "THE WHITNEY-HAY WEDDING". The New York Times. Retrieved 6 March 2017.
  9. ^ Durso, Joseph (5 October 1975). "Joan Whitney Payson, 72, Mets Owner, Dies". The New York Times. Retrieved 6 March 2017.
  10. ^ "JOHN HAY WHITNEY DIES AT 77; PUBLISHER LED IN MANY FIELDS". The New York Times. 9 February 1982. Retrieved 6 March 2017.
  11. ^ "Payne Whitney's Son Arrives". The New York Times. 4 June 1927. Retrieved 6 March 2017.
  12. ^ Photo, Special To The New York Times times Wide World (26 September 1930). "MARY ALTEMUS WED TO J. HAY WHITNEY; Philadelphia Girl Has Large Bridal Party at Marriage to New Yorker. SPECIAL TRAIN FOR COUPLE They Leave for Washington--Presents Received From Friends inMany Countries. Bride's Gown of Silver Cloth. Robert C. Benchley Best Man. Famous Manuscripts as Gifts. Bride a Horsewoman". The New York Times. Retrieved 6 March 2017.
  13. ^ "Mrs. Cushing Roosevelt Becomes Bride Here of John Hay Whitney; Former Wife of President's Eldest Son Wed to Wealthy Sportsman and Financier in a Simple Home Ceremony". The New York Times. 2 March 1942. Retrieved 6 March 2017.
  14. ^ "WHITNEY FUND IN ABEYANCE; Trustees Silent on Plans for a Philanthropic Foundation". The New York Times. 9 June 1927. Retrieved 6 March 2017.
  15. ^ "PAYNE WHITNEY'S WILL AWAITS SON'S ARRIVAL; It Will Probably Be Read Next Saturday After Heir Returns From England". The New York Times. 29 May 1927. Retrieved 6 March 2017.
  16. ^ "MR. WHITNEY'S WILL". The New York Times. 8 June 1927. Retrieved 6 March 2017.
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