September 27, 1882
San Antonio, Texas, U.S.
|Died|| April 14, 1979 96) (aged|
Far Hills, New Jersey, U.S.
|Alma mater||Harvard University|
|Employer||Dillon, Read & Co.|
(m. 1908;her death 1961)
|Children|| C. Douglas Dillon |
Dorothy Dillon Eweson
|Parent(s)|| Samuel Lapowski|
Clarence Dillon (September 27, 1882 – April 14, 1979)was an American financier, and namesake of Dillon, Read & Co., an investment bank. In 1957, Fortune Magazine listed Dillon as one of the richest men in the United States, with a fortune then estimated to be from $150 to $200 million.
The United States of America (USA), commonly known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.
Dillon, Read & Co. was an investment bank based in New York City. In 1991, it was acquired by Barings Bank and, in 1997, it was acquired by Swiss Bank Corporation, which was in turn acquired by UBS in 1998.
Clarence Dillon was born Clarence Lapowski. His parents were Bertha Stenbock (1862–1951) and Samuel Lapowski (1848–1912), who emigrated to the United States. Dillon's father was a Polish Jewish immigrant, likely born at Łomża, Poland in 1848. His paternal grandparents were Joshua Lapowski and Paulina Dylion, the daughter of Michel Dylion, a Frenchman.
Łomża is a city in north-eastern Poland, approximately 150 kilometres to the north-east of Warsaw and 80 kilometres (50 mi) west of Białystok. It is situated alongside the Narew river as part of the Podlaskie Voivodeship since 1999. Previously, it was the capital of the Łomża Voivodeship from 1975 to 1998. It is the capital of Łomża County and has been the seat of the Roman Catholic Diocese of Łomża since 1925.
Poland, officially the Republic of Poland, is a country located in Central Europe. It is divided into 16 administrative subdivisions, covering an area of 312,696 square kilometres (120,733 sq mi), and has a largely temperate seasonal climate. With a population of approximately 38.5 million people, Poland is the sixth most populous member state of the European Union. Poland's capital and largest metropolis is Warsaw. Other major cities include Kraków, Łódź, Wrocław, Poznań, Gdańsk, and Szczecin.
The French are an ethnic group and nation who are identified with the country of France. This connection may be ethnic, legal, historical, or cultural.
In 1878, his father went to San Antonio, Texas and married Bertha Stenbock one year later. Stenbock was born 1862 in Denver, Colorado, the daughter of Gustav Stenbock, a Swedish immigrant, who was prospecting for lead and silver in the Colorado Western Slope.In 1884, the family moved to Abilene, Texas. They became naturalized citizens in the Abilene District Court, on September 25, 1891, legally changing the family name to Dillon on September 17, 1901. Clarence's father died in San Francisco, California, on June 23, 1912 and his mother died in New York City, on January 1, 1951.
San Antonio, officially the City of San Antonio, is the seventh-most populous city in the United States, and the second-most populous city in both Texas and the Southern United States, with more than 1.5 million residents. Founded as a Spanish mission and colonial outpost in 1718, the city became the first chartered civil settlement in present-day Texas in 1731. The area was still part of the Spanish Empire, and later of the Mexican Republic. Today it is the state's oldest municipality.
Texas is the second largest state in the United States by both area and population. Geographically located in the South Central region of the country, Texas shares borders with the U.S. states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the southwest, while the Gulf of Mexico is to the southeast.
Denver, officially the City and County of Denver, is the capital and most populous municipality of the U.S. state of Colorado. Denver is located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains. The Denver downtown district is immediately east of the confluence of Cherry Creek with the South Platte River, approximately 12 mi (19 km) east of the foothills of the Rocky Mountains. Denver is named after James W. Denver, a governor of the Kansas Territory, and it is nicknamed the Mile High City because its official elevation is exactly one mile above sea level. The 105th meridian west of Greenwich, the longitudinal reference for the Mountain Time Zone, passes directly through Denver Union Station.
Dillon graduated from Worcester Academy, located in Worcester, Massachusetts and one of the country's oldest day-boarding schools, and then Harvard University in 1905.
Worcester Academy is a private school in Worcester, Massachusetts. It is one of the country's oldest day-boarding schools, with alumni including H. Jon Benjamin, Edward Davis Jones, Cole Porter, and Olympian Bill Toomey. A coeducational preparatory school, it belongs to the National Association of Independent Schools. Situated on 73 acres, the academy is divided into a middle school, serving approximately 150 students in grades six to eight, and an upper school, serving approximately 500 students in grades nine to twelve, including some postgraduates. Approximately one-third of students in the upper school participate in the school's five- and seven-day boarding programs. Currently, there are approximately 80 international students enrolled from 28 different nations. The academy is mildly selective, accepting approximately 65% of all applicants.
Worcester is a city in, and the county seat of, Worcester County, Massachusetts, United States. Named after Worcester, England, as of the 2010 Census the city's population was 181,045, making it the second most populous city in New England after Boston. Worcester is located approximately 40 miles (64 km) west of Boston, 50 miles (80 km) east of Springfield and 40 miles (64 km) north of Providence. Due to its location in Central Massachusetts, Worcester is known as the "Heart of the Commonwealth", thus, a heart is the official symbol of the city. However, the heart symbol may also have its provenance in lore that the Valentine's Day card, although not invented in the city, was mass-produced and popularized by Esther Howland who resided in Worcester.
Harvard University is a private Ivy League research university in Cambridge, Massachusetts, with about 6,700 undergraduate students and about 15,250 post graduate students. Established in 1636 and named for its first benefactor, clergyman John Harvard, Harvard is the United States' oldest institution of higher learning, and its history, influence, and wealth have made it one of the world's most prestigious universities.
In 1912, Dillon met William A. Read, founder of the Wall Street bond broker firm William A. Read & Company through an introduction by his Harvard classmate, William A. Phillips. Dillon joined Read's Chicago office in that year, later moving to the firm's New York office in 1914. Following Read's death in 1916, Dillon bought a majority interest in the firm and was chosen to head the company.In 1921, the company's name was changed to Dillon, Read & Co.
Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial services industry, or New York–based financial interests.
William Addison Phillips was a journalist, soldier and U.S. Representative from Kansas.
In 1921, Dillon focused on the beleaguered Goodyear Tire and Rubber Company which was in receivership. He succeeded in crafting a settlement with Goodyear's bankers, creditors, and stockholders as was raising more than $100 million in funding in an extremely difficult credit market. In 1925, only four years later, Dillon bought the Dodge Brothers Company for $146 million in cash which was the largest such transaction in industrial history at the time. After the acquisition of Dodge, Dillon merged the company with the Chrysler Corporation in 1927 resulting in Chrysler's becoming one of the Big three in the automobile industry.
The Goodyear Tire & Rubber Company is an American multinational tire manufacturing company founded in 1898 by Frank Seiberling and based in Akron, Ohio. Goodyear manufactures tires for automobiles, commercial trucks, light trucks, motorcycles, SUVs, race cars, airplanes, farm equipment and heavy earth-mover machinery. It also produced bicycle tires from its founding until 1976. As of 2017, Goodyear is one of the top four tire manufacturers along with Bridgestone (Japan), Michelin (France) and Continental (Germany).
In the automotive industry, the term Big Three refers to a country's three largest automobile manufacturers.
A number of Dillon, Read & Co. partners served in senior roles in government, including Dillon and his right-hand man, James Forrestal, who served as Secretary of the Navy, and later, Secretary of Defense. During World War I, Bernard Baruch, Chairman of the War Industries Board, (known as the Czar of American Industry) asked Dillon to be Assistant Chairman of the War Industries Board.
Dillon was a Francophile both because he had French origins and for his own personal tastes. In 1929, he purchased an apartment in Paris where he stayed a part of each year until he was well into his 80s.An oenophile as well. Dillon negotiated for months to purchase Château Haut-Brion from Bordeaux businessman André Gibert who had controlled the French wine producer since 1923. Dillon ultimately made the acquisition on May 13, 1935 for 2,300,000 francs. Dillon made Seymour Weller, who was the son of his wife’s sister, president of the new company, Société Vinicole de la Gironde, (later Domaine Clarence Dillon). Weller retired as President of the company in 1975. Dillon is said to have purchased Château Haut-Brion because it was his favorite wine. However Haut-Brion is also near Bordeaux, and good riding and hunting land surrounds the estate.
Clarence purchased show dog Fontclair Festoon from Dody Jenkins. This dog would go on to win best-in-show at the Westminster Kennel Club in 1959. The dog was handled by Anne Rogers Clark.
On February 4, 1908, Dillon married Anne McEldin Douglass (1881–1961)in Milwaukee, Wisconsin. Anne was the daughter of George Douglass and his wife and second cousin Susan Virginia Dun. Together, Clarence and Anne were the parents of a son and daughter:
Dillon died on April 14, 1979 at his home in Far Hills, New Jersey.
Frederick Theodore Frelinghuysen was an American lawyer and politician from New Jersey who served as a U.S. Senator and later as United States Secretary of State under President Chester A. Arthur.
Clarence Douglas Dillon was an American diplomat and politician, who served as U.S. Ambassador to France (1953–1957) and as the 57th Secretary of the Treasury (1961–1965). He was also a member of the Executive Committee of the National Security Council (ExComm) during the Cuban Missile Crisis.
Château Haut-Brion is a French wine, rated a Premier Grand Cru Classé, produced in Pessac just outside the city of Bordeaux. It differs from the other wines on the list in its geographic location in the north of the wine-growing region of Graves. Of the five first growths, it is the only wine with the Pessac-Léognan appellation and is in some sense the ancestor of a classification that remains the benchmark to this day.
Charles Lanier Lawrance was an American aeronautical engineer and an early proponent of air-cooled aircraft engines.
Kingman Douglass, was an American investment banker and a leading member of the United States intelligence community. He was a deputy director of Central Intelligence from March 1946 to July 1946.
Carl Frelinghuysen Gould also spelled Carl Freylinghausen Gould, was an architect in the Pacific Northwest, and founder and first chair of the architecture program at the University of Washington. As the lead designer in the firm Bebb and Gould, with his partner, Charles H. Bebb, Gould was responsible for many notable Pacific Northwest buildings, such as the original Seattle Art Museum and for the campus plan of the University of Washington.
Château la Mission Haut-Brion is a Bordeaux wine from the Pessac-Léognan appellation, classed among the Crus Classés in the Graves classification of 1953. The winery, located in close vicinity of the city of Bordeaux, belongs to the wine region Graves, in the commune of Talence with additional property in Pessac.
Château Laville Haut-Brion was a Bordeaux dry white wine from the Pessac-Léognan appellation, which was ranked among the Crus Classés in the Classification of Graves wine of 1953. The estate is located in close vicinity of the city of Bordeaux, in the commune of Talence.
Château La Tour Haut-Brion was a Bordeaux wine estate from the Pessac-Léognan appellation within Graves, and was ranked as a Cru Classé for red wine in the Classification of Graves wine of 1953 and 1959. It was located in close vicinity of the city of Bordeaux, in the commune of Talence, adjoining Château La Mission Haut-Brion.
Frederic Lincoln Chapin was a United States diplomat. He was the ambassador to Ethiopia and Guatemala.
Domaine Clarence Dillon owns, within a family company, some of the most worldwide prestigious estates: Château Haut-Brion, Château La Mission Haut-Brion, Château Quintus and Clarendelle. Since 2015, Domaine Clarence Dillon also has a Parisian residence, a true embassy of this French art de vivre so prized by Prince Robert de Luxembourg, representative of the fourth generation of the family. It houses the two-star gourmet restaurant « Le Clarence » and « La Cave du Château », a boutique of Fine wines and spirits from the greatest French terroirs.
Robert Winthrop was a wealthy banker and capitalist in New York City.
Philippe François Armand Marie de Noailles, Duc de Mouchy, Prince-Duc de Poix was a cadet of the French ducal house of Noailles, and second in succession to the senior title. He was the eldest son of Henri-Antoine-Marie de Noailles, Duc de Mouchy, Prince-Duc de Poix, and of Marie de La Rochefoucauld. Following his marriage to Joan Dillon, he became managing director of Domaine Clarence Dillon. Together, the couple acquired Château La Mission Haut-Brion, Château Laville Haut-Brion and Château La Tour Haut-Brion.
Joan de Noailles, Duchess of Mouchy and Poix is an American-born French duchess, the first commoner to marry into the reigning dynasty of Luxembourg, and is the former president of French Bordeaux wine company Domaine Clarence Dillon.
Edward Warburg (1908-1992) was an American philanthropist and patron of the arts from New York City. He taught Modern Art at Bryn Mawr College and he was vice director for public affairs of the Metropolitan Museum of Art. He was a co-founder of the American Ballet and the School of American Ballet. He collected many paintings and sculptures, and donated the bulk of them to museums, especially the Museum of Modern Art.
Francis Randall Appleton was a prominent New York society man during the Gilded Age.
Clarence Cary was an American lawyer and sportsman who was prominent in New York society during the Gilded Age.
Sidney Dillon Ripley was an American insurance executive and prominent member of New York society during the Gilded Age.
Clarence Moore was a prominent American businessman and sportsman. In 1909, he built a large home in Washington, D.C. that now serves as an embassy of Uzbekistan. Moore died after a leisure trip to England, on his way home as a first class passenger on the RMS Titanic when it sank.
Dillon and his father, Clarence Dillon '05, also established the Dillon Field House Endowment.