Joseph Iglehart

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Joseph Alexander Wilson Iglehart (November 15, 1891 November 16, 1979) was an American financier who also served as an executive for the Columbia Broadcasting System (CBS) and two Major League Baseball (MLB) franchises.

United States Federal republic in North America

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.

CBS is an American English language commercial broadcast television and radio network that is a flagship property of CBS Corporation. The company is headquartered at the CBS Building in New York City with major production facilities and operations in New York City and Los Angeles.

Major League Baseball Professional baseball league

Major League Baseball (MLB) is a professional baseball organization, the oldest of the four major professional sports leagues in the United States and Canada. A total of 30 teams play in the National League (NL) and American League (AL), with 15 teams in each league. The NL and AL were formed as separate legal entities in 1876 and 1901 respectively. After cooperating but remaining legally separate entities beginning in 1903, the leagues merged into a single organization led by the Commissioner of Baseball in 2000. The organization also oversees Minor League Baseball, which comprises 256 teams affiliated with the Major League clubs. With the World Baseball Softball Confederation, MLB manages the international World Baseball Classic tournament.

Born in Baltimore, Maryland on November 15, 1891, he graduated from The Boys' Latin School of Maryland in 1910 and Cornell University in 1914. He served in the American military during World War I, becoming the youngest major in the United States Army at the time of his appointment in 1917.

Baltimore Largest city in Maryland

Baltimore is the largest city in the state of Maryland within the United States. Baltimore was established by the Constitution of Maryland as an independent city in 1729. With a population of 611,648 in 2017, Baltimore is the largest such independent city in the United States. As of 2017, the population of the Baltimore metropolitan area was estimated to be just under 2.808 million, making it the 20th largest metropolitan area in the country. Baltimore is located about 40 miles (60 km) northeast of Washington, D.C., making it a principal city in the Washington-Baltimore combined statistical area (CSA), the fourth-largest CSA in the nation, with a calculated 2017 population of 9,764,315.

Boys' Latin School of Maryland is an all-boys, university-preparatory school located in Baltimore, Maryland. Founded in 1844, it is the oldest independent, nonsectarian secondary school in the state of Maryland. The school is divided into Lower, Middle and Upper Schools. There are approximately 640 students in kindergarten through twelfth grades.

Cornell University private university in Ithaca (New York, US)

Cornell University is a private and statutory Ivy League research university in Ithaca, New York. Founded in 1865 by Ezra Cornell and Andrew Dickson White, the university was intended to teach and make contributions in all fields of knowledge—from the classics to the sciences, and from the theoretical to the applied. These ideals, unconventional for the time, are captured in Cornell's founding principle, a popular 1868 Ezra Cornell quotation: "I would found an institution where any person can find instruction in any study."

After the war, he was employed as an investment banker by the Wall Street stockbrokerage firm W.E. Hutton & Co., where he eventually became a partner. He was later associated with CBS as an investor, chairman of the finance committee and, for 47 years starting in 1932, a member of the board of directors.

An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket, Middle Market, and boutique market.

Wall Street street in Manhattan

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.

Stockbroker professional who buys and sells shares and other securities for both retail and institutional clients

A stockbroker, share broker, registered representative, trading representative, or more broadly, an investment broker, investment adviser, financial adviser, wealth manager, or investment professional is a regulated broker, broker-dealer, or Registered Investment Adviser who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks and other investments to financial market participants in return for a commission, markup, or fee, which could be based on a flat rate, percentage of assets, or hourly rate. Examples of professional designations held by individuals in this field, which affects the types of investments they are permitted to sell and the services they provide include Chartered Financial Consultants, Certified Financial Planners or Chartered Financial Analysts, Chartered Strategic Wealth Professionals, Chartered Financial Planners, and Master of Business Administration. The Financial Industry Regulatory Authority (FINRA) provides an online tool designed to help understand professional designations in the United States.

He was one of the investors in a Clarence Miles-led group that successfully purchased the St. Louis Browns from Bill Veeck on September 29, 1953, moving the franchise to Baltimore and renaming it the Orioles for the 1954 season. He was appointed the team's chairman of the board after Miles' resignation in early November, 1955. Iglehart eventually became the largest individual shareholder, with a 32% stake in the ballclub, which emerged as a legitimate pennant contender by 1960 on the strength of its scouting, player development and farm system.

Clarence Miles was the chairman of the board and president of the Baltimore Orioles of the American League during the 1954 and 1955 seasons.

History of the St. Louis Browns Wikimedia disambiguation page

The St. Louis Browns were a Major League Baseball team that originated in Milwaukee, Wisconsin, as the Milwaukee Brewers. Charter member of the American League, the Brewers moved to St. Louis, Missouri, after the 1901 season, where they played for 52 years as the St. Louis Browns. This article covers the franchise's more-than-five-decade history in St. Louis.

Bill Veeck United States baseball executive

William Louis Veeck Jr., also known as "Sport Shirt", was an American Major League Baseball franchise owner and promoter. Veeck was at various times the owner of the Cleveland Indians, St. Louis Browns and Chicago White Sox. As owner and team president of the Indians in 1947, Veeck signed Larry Doby, thus beginning the integration of the American League, and the following year won a World Series title as Cleveland's owner/president.

When the New York Yankees' sale to CBS was finalized on September 9, 1964, he found himself in violation of a MLB rule concerning conflict of interest. He ended up selling his 64,000 shares to another original Orioles investor, the National Brewing Company, for $1.6 million on May 25, 1965. The brewery gained controlling interest at 65%, with its president, Jerold Hoffberger, succeeding Iglehart as board chairman.

New York Yankees Baseball team and Major League Baseball franchise in the Bronx, New York, United States

The New York Yankees are an American professional baseball team based in the New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. They are one of two major league clubs based in New York City, the other being the New York Mets of the National League. In the 1901 season, the club began play in the AL as the Baltimore Orioles. Frank Farrell and Bill Devery purchased the franchise and moved it to New York City, renaming the club the New York Highlanders. The Highlanders were officially renamed the Yankees in 1913.

A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party.

National Bohemian

National Bohemian Beer, colloquially Natty Boh, is an American beer originally brewed in Baltimore, Maryland, but now owned by the Pabst Brewing Company. First brewed in 1885 by the National Brewing Company, whose other brands were National Premium and Colt 45 malt liquor, this Bohemian-style beer's slogan had long been "Oh boy. What a beer!"

Oddly enough, the day after the sale, the National Gypsum Company (now part of Lafarge), another enterprise of which he was on the board, rechristened in his honor a deep sea tanker that was converted into what was then the world's largest self-unloading cement-carrying laker - the J.A.W. Iglehart.

Lafarge (company) French industrial company

Lafarge S.A. is a French industrial company specialising in three major products: cement, construction aggregates, and concrete.

Cement Hydraulic binder used in the composition of mortar and concrete

A cement is a binder, a substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel (aggregate) together. Cement mixed with fine aggregate produces mortar for masonry, or with sand and gravel, produces concrete. Cement is the most widely used material in existence and is only behind water as the planet's most-consumed resource.

Lake freighter ship type

Lake freighters, or lakers, are bulk carrier vessels that ply the Great Lakes of North America. These vessels are traditionally called boats, although classified as ships.

After leaving the Orioles, he served on the Yankees' board of directors until the team was sold in January, 1973 to an investment group led by George Steinbrenner. He spent one more season with the Bronx Bombers as a consulting partner.

Iglehart died in Lutherville, Maryland on November 16, 1979, just one day after his 88th birthday.

The lake freighter J.A.W. Iglehart was named after him.


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