Marshall Field III
Marshall Field III | |
---|---|
Investment banker, Publisher: Newspaper, magazine, books Racehorse owner/breeder Philanthropist | |
Known for | Founder: Chicago Sun & Parade magazine |
Political party | Republican |
Spouses |
|
Children | From Evelyn
From Ruth
|
Parent(s) | Marshall Field II Albertine Huck |
Relatives | Henry Field (brother) Gwendolyn Mary Field (sister) Marshall Field (grandfather) Ethel Field (aunt) Edgar Uihlein (cousin) |
Marshall Field III (September 28, 1893 – November 8, 1956) was an American
Early life
Born in Chicago, Cook 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.
In 1917, he joined the
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 open 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 1926, Field left the firm to pursue other interests.
Already a recipient of substantial money from the estate of his grandfather Marshall Field, on his 50th birthday he inherited the bulk of the remainder of the family fortune.[3][4] His brother, Henry Field, who was to have shared in the fortune, had died in 1917.[5]
Publishing industry
He was primarily a publisher, and in late 1941 he founded the Chicago Sun, which later became the Chicago Sun-Times. The primary investor in the newspaper PM, he eventually bought out the other investors to become the publisher. He also created Parade as a weekly magazine supplement for his own paper and for others in the United States. By 1946, Parade had achieved a circulation of 3.5 million.
In 1944, Marshall Field III formed the private holding company Field Enterprises.[6] That same 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
In 1926, one year after his estate was built, Marshall Field partnered with
The
Philanthropy
Field supported a number of charitable institutions and in 1940 created the
Death and family
Field died in 1956 of
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, 1930, and divorced in Reno, Washoe County, Nevada, in 1934, he left no issue.
References
- ^ IAF: 50 Years Organizing for Change, p. 7.
- ^ Horwitt, Let Them Call Me Rebel, pp. 102-103.
- ^ "Business: Field from Glore". Time. 8 July 1935. Retrieved 23 January 2016.
- ^ "The Press: Marshall Field at Work". Time. 27 September 1943. Retrieved 23 January 2016.
- New York Times. 9 July 1917. Retrieved 7 August 2015.
Henry Field, grandson of the late Marshall Fleld of Chicago, died yesterday morning at the Presbyterian Hospital, following an operation. He had been ill for several weeks, and was operated upon an Thursday by Dr. Adrian Lambert. It
- ^ "Owns The Chicago Sun: Field Enterprises, Inc., Organized By Marshall Field," The New York Times, 1 September 1944, page 22.
- ^ "Horseracing History Online - Person Profile : Marshal Field". www.horseracinghistory.co.uk. Archived from the original on 7 November 2007.
- ^ "Secretariat Thoroughbred". www.allbreedpedigree.com.
- ^ a b Kennedy, Karen Morey (5 January 1979). "National Register of Historic Places Inventory/Nomination: Marshall Field, III, Estate (Caumsett) / Caumsett State Park". Retrieved 28 February 2008. and Accompanying 16 photos, exterior and interior, from 1975 and 1976
- ^ "132 child refugees due". The New York Times. 21 June 1941. p. 9. Retrieved 29 February 2024 – via Times Machine.
- ^ "119 child refugees here from Lisbon". The New York Times. 22 June 1941. p. 19. Retrieved 29 February 2024 – via Times Machine.
- ^ "Ruth Pruyn Field, 86; Promoted Civic Causes". The New York Times. 28 January 1994. Retrieved 23 January 2016.
Further reading
- Becker, Stephen. Marshall Field III; a biography (1964) Simon & Schuster
- ISBN 0-471-02493-7
- Marshall Field brief bio at the U.K. National Horseracing Museum
- University of Illinois, Department of English - May, 1917 International Socialist Review article by Carl Sandburg titled "Will Marshall Field III. Enlist?"
- Illinois National Guard article on Marshal Field IIIs service in WWI
- Marshal Field III and the Caumsett State Historic Park
- Harvard Business School – 20th Century Great American Business Leaders
- The Field Foundation
- Simon & Schuster and Pocket Books are sold to Marshall Field III