This article needs additional citations for verification .(February 2011) |
David Eccles Sr | |
---|---|
Born | Paisley, Scotland | May 12, 1849
Died | December 6, 1912 63) Salt Lake City, Utah, U.S. | (aged
Known for | Oregon Lumber Company Utah Construction Company Amalgamated Sugar Company Utah Electric Company Union Pacific Railroad Sumpter Valley Railway Mount Hood Railroad |
Spouses | |
Children | Marriner Stoddard Eccles George S. Eccles |
David Eccles Sr (May 12, 1849 – December 6, 1912) was an American businessman and industrialist who founded many businesses throughout the western United States and became Utah's first multimillionaire.
Eccles was born in Paisley, Scotland, to William and Sarah Hutchinson Eccles. [1] In 1863 his family moved from Glasgow to the United States of America, sailing on the Cynosure [2] and eventually settling in Ogden Valley, located in eastern Weber County, Utah. The move was made because of their joining the Church of Jesus Christ of Latter-day Saints and their desire to be near the body of the church. He lived in both Eden and Liberty, Utah.
After struggling to make a living, the family moved to Oregon City, Oregon. There they worked in a new mill. He worked for the mill for a year, then for a lumber corporation, and the Oregon and California Railroad. The family moved back to Ogden, Utah, in 1869 after the completion of the Transcontinental Railroad hoping it would bring them work.
In the Ogden area, he worked cutting wood and building homes. He worked as a freighter and for the Union Pacific coal mines. He also worked at a sawmill at Monte Cristo east of Ogden.
In 1874, he attended Louis F. Moench's school in Ogden. It was there he met Bertha Marie Jensen and married her in 1875. They had 12 children from this marriage.
While he had been working he saved up a considerable amount of money and put it to other uses. He started the Eccles Lumber Company and several other enterprises. Through supplying ties for railroads, he knew the local circumstances of where the railroads were building and the opportunities available. He opened lumber mills, shingle mills, planing mills, an electric plant, and other entities. He followed the railroads and opened mills in other locations in Oregon and Washington states. He and his associates built the Sumpter Valley and Mount Hood railroads. It was through these and other railroads that Eccles shipped the lumber and other goods to Utah.
Eccles met Ellen Stoddard, the daughter of his partner, John Stoddard. Under the practice of polygamy at the time, David married Ellen, and they made their home in Logan, Utah where he built a lavish yellow brick mansion for his new bride using lumber imported from his corporation in Oregon. (The home is on West Center Street.) Marriner Stoddard Eccles and George S. Eccles are children of this marriage.
A hard worker, Eccles was reported to have traveled over 44,000 miles (71,000 km) in 1904. While friends encouraged him to slow down, he preferred to "die in the harness." One of his hallmarks was integrity and self-reliance. His companies prospered on his no-debt plan and view of achieving success rather than money.
David always put his children to work early in life. They worked along with the crews on the railroads, mills, and lumber yards. They were taught as many aspects of the businesses as they were willing to learn. Several served missions for The Church of Jesus Christ of Latter-day Saints. His children graduated from University of Michigan Law School, Columbia University, Brigham Young College, Utah State University, and University of Utah.
With the estimated $4-7 million he made, mostly from his Oregon enterprises, he invested heavily in Utah. He purchased stock in banks, canneries, insurance companies, railroads, factories, mills, mines, and various other companies. The Utah Construction Company built over 700 miles (1,100 km) of track for the Western Pacific Railroad and led the Six Companies in constructing the Hoover Dam. David Eccles served as the second president of Utah Construction Company after the death of long-term associate Thomas Dee. He also served as founder of a number of companies, one of which was the Amalgamated Sugar Company.
Eccles served on the Ogden City Council and as their mayor from 1888 to 1890. He was known for his aid to The Church of Jesus Christ of Latter-day Saints for lending large amounts of money to it at no interest. At the time of his death, he was the president of 16 industrial corporations and 7 banks. He also was serving as a director in 24 other banks and industries. He is Utah's first multimillionaire. [1]
While running to catch the evening train from Salt Lake City to Ogden, Utah, he died of a heart attack in Salt Lake City on December 6, 1912, at the age of 63.
There are a host of organizations named after Eccles and his descendants. The David Eccles School of Business is at the University of Utah. The David Eccles Conference Center is in downtown Ogden, Utah
Marriner Stoddard Eccles was an American economist and banker who served as the 7th chairman of the Federal Reserve from 1934 to 1948. After his term as chairman, Eccles continued to serve as a member of the Federal Reserve Board of Governors until 1951.
David Matthew Kennedy was an American politician and businessman. He served as the 60th U.S. Secretary of the Treasury and later as the 8th U.S. Ambassador to NATO, both under U.S. President Richard Nixon. He was Chief Executive and Chairman of the Board of Continental Illinois during the 1950s and 1960s.
The J. Willard Marriott Library is the main academic library of the University of Utah in Salt Lake City, Utah. The university library has had multiple homes since the first University of Utah librarian was appointed in 1850. The current building was opened in 1968 and named for J. Willard Marriott, founder of Marriott International, in 1969. After two major renovations, the building is more than 500,000 square feet (46,000 m2) and houses more than 4.5 million volumes. The University of Utah Press and Red Butte Press are divisions of the Marriott Library.
Charles Wilson Nibley was a Scottish-American religious leader, businessman, and politician. Nibley was a member of The Church of Jesus Christ of Latter-day Saints and served as the fifth presiding bishop of the Church of Jesus Christ of Latter-day Saints between 1907 and 1925 and a member of the church's First Presidency from 1925 until his death. He was also a businessman and was involved in various industries, such as lumber, sugar, and railroads.
Union Station, also known as Ogden Union Station, is a train station in Ogden, Utah, United States, at the west end of Historic 25th Street, just south of the Ogden Central Station. Formerly the junction of the Union Pacific(UP) and Central Pacific (CP) railroads, its name reflects the common appellation of train stations whose tracks and facilities are shared by railway companies.
Thomas Duncombe Dee was an American businessman from Utah.
The Amalgamated Sugar Company is an American sugar beet-refining company run on a cooperative basis. It was founded in 1897 in Ogden, Utah, and is now located in Boise, Idaho. The company markets its sugar under the White Satin brand.
Spencer Fox Eccles is a prominent financier and philanthropist in Salt Lake City, Utah and chairman emeritus of the Intermountain Region of Wells Fargo Corporation. From 1982 to 2000, he was chairman and chief executive officer of First Security Corporation of Salt Lake City, which was, until its sale to Wells Fargo in 2000, the largest banking organization in the Mountain West measured by assets, deposits and market capitalization.
Howard J Stoddard (1901–1971) was a prominent banker in Michigan. He founded Michigan National Bank by merging several banks in mid-sized Michigan cities.
Randal Keith Quarles is an American private equity investor and attorney who served as the first Vice Chair of the Federal Reserve for supervision from 2017 to 2021. He concurrently served as the chair of the Financial Stability Board from 2018 to 2021.
Eden is a census-designated place in Weber County, Utah, United States. It is home to Powder Mountain ski resort. It lies between the North and Middle Fork of the Ogden River, north of Pineview Reservoir, in the Ogden Valley. The elevation is 4,941 feet (1,506 m). The population was 600 at the 2010 census. It has a post office with the ZIP code 84310. Eden is part of the Ogden–Clearfield, Utah Metropolitan Statistical Area, as well as the Ogden Valley census county division
Liberty is a census-designated place in Weber County, Utah, United States. The population was 1,257 at the 2010 census. It is part of the Ogden–Clearfield, Utah Metropolitan Statistical Area, as well as the Ogden Valley census county division.
The Utah Central Railroad was the first railroad in the U.S. state of Utah other than the main line of the First transcontinental railroad. Built by Mormons, it connected Salt Lake City to the transcontinental line at Ogden. It has since become part of the Union Pacific Railroad, which operates the line as the Salt Lake Subdivision; FrontRunner commuter rail tracks were added alongside the UP freight line in 2008.
Rodney Howard Brady was an American corporate businessman. He received a doctoral degree in Business Administration from the Harvard Business School (HBS). Beyond his work in the business world, Brady was the president of Weber State College. He was an assistant secretary in the United States Department of Health, Education, and Welfare (HEW) and was a member of a presidential committee. Brady was a member of the Church of Jesus Christ of Latter-day Saints. He had an enduring involvement in the Scouting movement.
George S. Eccles (1900–1982), the sixth of nine children of Utah industrialist David Eccles and his wife Ellen Stoddard Eccles. He grew up in Logan, Utah and graduated from Columbia University in New York, where he met fellow student Dolores "Lolie" Doré, whom he wed in 1925. George and his brother Marriner Stoddard Eccles founded First Security Corporation in 1928. He served as CEO of First Security Corporation from 1945 to 1982. In 1960 he and his wife co-founded the George S. and Dolores Doré Eccles Foundation. He received the Golden Plate Award of the American Academy of Achievement, alongside his brother Marriner S. Eccles, at the 1972 Achievement Summit in Salt Lake City.
The Church of Jesus Christ of Latter-day Saints in Oregon refers to the Church of Jesus Christ of Latter-day Saints and its members in Oregon. Oregon has the 9th most members of the church of any U.S. state. Members have had considerable influence in the state throughout its contemporary history and many influential Latter-day Saints have come from Oregon, including Senator Gordon H. Smith.
First Security Corporation was a multistate bank holding company in the western United States, primarily in Utah, Idaho, New Mexico, Oregon, Nevada, and Wyoming. Headquartered in Salt Lake City, Utah, First Security merged with Wells Fargo in 2000.
The Oregon Lumber Company was a company west of Portland, Oregon, that claimed extensive land via the Homestead Act of 1862. The company was formed by Charles W. Nibley together with David Eccles and George Stoddard in 1889. The company had its principal holdings near Baker City, Oregon, and in the Sumpter Valley, with others near Hood River area, and around Chenoweth. It also owned a number of associated railroad companies constructed primarily to haul its timber.
Heber Robert McBride was an autobiographer who immigrated to the United States from England in 1856 at the age of thirteen. He was a Mormon pioneer who migrated to Utah with the Martin Handcart Company. McBride was a member of the Church of Jesus Christ of Latter-day Saints.