Otto Young
Otto Young | |
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| Born | December 20, 1844 |
| Died | November 30, 1906 (aged 61) Lake Geneva, Wisconsin, U.S. |
| Resting place | Oak Woods Cemetery |
| Occupation(s) | Merchant, real estate investor |
| Spouse | Ann Elizabeth Murphy |
| Children | 5 |
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Otto Young (December 20, 1844 – November 30, 1906) was a
With the earnings from his Chicago store, Young purchased a half interest in
Early life
Otto Young was born on December 20, 1844, in
While working a temporary job on a dock, Young decided to follow his mother to the United States. He boarded the SS Great Eastern, arriving in New York City. There, he noticed a particularly successful toy store on Broadway. He purchased a supply of toys from a wholesaler and peddled them on the street. After a week, he had saved up enough money to return to his mother. She encouraged him to attend a school, where he studied for eight months. Young then ran away and took a job as a clerk of a cigar store in New York City.[2]
Career
In the early 1860s, Young used his savings from the cigar store to found a jewelry house. The store was very successful and he sold it in 1867 to establish a new store, intending to open it elsewhere in
In 1886, Young purchased a half interest in
Young was also active in Chicago real estate. His largest holding was the
Personal life
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In 1867, Young married Ann Elizabeth Murphy. In 1901, his Renaissance Revival mansion, known as Younglands, was completed in Lake Geneva, Wisconsin.[3] They had four daughters and a son that died young, including:[5]
- John William Young (1872–1896), who died unmarried.[6]
- Cecile Selma Young (1875–1935), who married Lawrence Heyworth and Josip Korwin.[6]
- Marie Julia Young (b. 1878), who married Louis Graveraet Kaufman.[6]
- Catherine Osborn Young (1880–1942), who married Byron Frank Hobart and Walter Forman Wickes.[6]
- Laura Elizabeth Young (1881–1924), who married Samuel Klump Martin Jr.[5]
He was a member of the Union League Club of Chicago. He enjoyed collecting rugs, and his Persian collection in Lake Geneva was thought to be worth over $150,000.[4] Young died on November 30, 1906, at his Lake Geneva estate and was buried in Chicago's Oak Woods Cemetery.[1] He was thought to be worth about $20 million at the time of his death; $460,000 was donated to charity in his will, mainly to the Home for Incurables.[7]
Legacy
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In his son's memory, Young funded an addition to the Chicago Home for Incurables.[3]
In 1979, Younglands was listed on the National Register of Historic Places.[8]
References
- ^ a b c "Otto Young Dead.; Chicago Merchant and Financier Dies at His Wisconsin Home". The New York Times. Chicago. December 1, 1906. p. 9. Retrieved June 13, 2022 – via Newspapers.com.
- ^ Newspapers.com.
- ^ Chicago Daily Tribune. June 9, 1901. Retrieved August 11, 2014 – via Newspapers.com.
- ^ a b "Otto Young, Pioneer Multi-Millionaire Merchant, Is Dead". Chicago Inter Ocean. December 1, 1906. pp. 1, 2. Retrieved June 13, 2022 – via Newspapers.com.
- ^ a b "Capsule Summary for Marwood" (PDF). mht.maryland.gov. June 1991. Retrieved November 30, 2021.
- ^ a b c d The Federal Reporter. West Publishing Company. 1946. pp. 859–860. Retrieved November 30, 2021.
- ^ "Fortune to Grandchildren.; Otto Young's Will Follows the General Plan of the Late Marshall Field's". The New York Times. Chicago. December 16, 1906. p. 18. Retrieved June 13, 2022 – via Newspapers.com.
- ISBN 978-0-89133-254-1. Retrieved November 30, 2021.
