Mellon family | |
---|---|
Current region | Pittsburgh, Pennsylvania, U.S. |
Place of origin | County Tyrone, Ireland |
Founded |
|
Founder | Archibald Mellon |
Connected families | Bruce family Larimer family |
Estate(s) | Rokeby Stables; Oak Spring |
The Mellon family is a wealthy and influential American family from Pittsburgh, Pennsylvania. The family includes Andrew Mellon, one of the longest serving U.S. Treasury Secretaries, along with famous members in the judicial, banking, financial, business, and political professions. Other notable figures include the prominent banker, R.B. Mellon, and his son R.K. Mellon, who provided funding and leadership for the first Pittsburgh Renaissance.
The American branch of the Mellon family traces its origins to County Tyrone, Northern Ireland. In 1816, Archibald Mellon emigrated from Northern Ireland to the United States and set up residence in Westmoreland County, Pennsylvania. [1] Two years later, Archibald was joined by his son, Andrew, and his family.
The family's wealth originated with Mellon Bank, founded in 1869 by Archibald's grandson, Thomas Mellon. Under the direction of Thomas's son, Andrew William Mellon, the Mellons became principal investors and majority owners of Gulf Oil (which merged with Chevron Corporation in 1985), Alcoa (since 1886), The Pittsburgh Tribune-Review (since 1970), Koppers (since 1912), New York Shipbuilding (1899–1968) and Carborundum Corporation, [2] as well as their major financial and ownership influence on Westinghouse Electric, [3] [ dead link ] H.J. Heinz Company,[ citation needed ] Newsweek , U.S. Steel,[ citation needed ] First Boston Corporation and General Motors.[ citation needed ] The family bank later became part of BNY Mellon.
The family also founded the National Gallery of Art in Washington, D.C., donating both art works and funds, and is a patron to the University of Pittsburgh, Carnegie Mellon University, Yale University, the Hôpital Albert Schweitzer in Haiti, and with art the University of Virginia. Carnegie Mellon University, and its Mellon College of Science, is named in honor of the family, as well as for its founder, Andrew Carnegie, who was a close associate of the Mellons. The family's founding patriarch was Judge Thomas Mellon (1813–1908), [4] the son of Andrew Mellon and Rebecca Wauchob, who were Scotch-Irish farmers from Camp Hill Cottage, in Lower Castletown, County Tyrone, Ireland, and emigrated to what is now the Pittsburgh suburb of north-central Westmoreland County, Pennsylvania. The family can be divided into four branches: the descendants of Thomas Alexander Mellon Jr, of James Ross Mellon, of Andrew William Mellon, and of Richard Beatty Mellon. The Mellon family are members of the Episcopal Church. [5]
The following is a list of figures closely aligned with or subordinate to the Mellon family.
The following is a list of companies in which the Mellon family have held a controlling or otherwise significant interest.
The following is a list of philanthropies and other non-profit institutions which were founded by or have otherwise been closely tied to the Mellon family.
Andrew William Mellon, known also as A. W. Mellon, was an American banker, businessman, industrialist, philanthropist, art collector, and politician. The son of Mellon family patriarch Thomas Mellon, he established a vast business empire before moving into politics. He served as United States Secretary of the Treasury from March 9, 1921, to February 12, 1932, presiding over the boom years of the 1920s and the Wall Street Crash of 1929. A conservative Republican, Mellon favored policies that reduced taxation and the national debt of the United States in the aftermath of World War I. Mellon also helped fund and manage Kennywood Park in West Mifflin, Pennsylvania.
East Liberty Presbyterian Church, sometimes referred to as the Cathedral of Hope, is in the East Liberty neighborhood of the East End of Pittsburgh, Pennsylvania, United States. The current building is the fifth church building to occupy the site; the first was in 1819.
Richard Mellon Scaife was an American billionaire, a principal heir to the Mellon banking, oil, and aluminum fortune, and the owner and publisher of the Pittsburgh Tribune-Review. In 2005, Scaife was number 238 on the Forbes 400, with a personal fortune of $1.2 billion. By 2013, Scaife had dropped to number 371 on the listing, with a personal fortune of $1.4 billion.
Mellon Financial Corporation was an American investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset management, including the Dreyfus family of mutual funds, business banking, and shareholder and investor services. On December 4, 2006, it announced a merger agreement with Bank of New York, to form BNY. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007.
Allegheny Cemetery is one of the largest and oldest burial grounds in Pittsburgh, Pennsylvania. It is a historic rural cemetery.
Mellon may refer to:
Cordelia Scaife May was a Pittsburgh, Pennsylvania-area political donor and philanthropist. An heiress to the Mellon-Scaife family fortune, she was one of the wealthiest women in the United States. Her philanthropy and political causes included environmentalism, birth control and family planning; overpopulation control measures, making English the official language of the United States, and strict immigration restrictions to the United States. According to The New York Times, "she bankrolled the founding and operation of the nation’s three largest restrictionist groups—the Federation for American Immigration Reform, NumbersUSA and the Center for Immigration Studies," and she left the bulk of her assets to the Colcom Foundation, whose major activity has been the sponsorship of immigration restriction.
Thomas Mellon was a Scots-Irish American businessman, judge, and lawyer who was best known as the founder of Mellon Bank and patriarch of the Mellon family of Pittsburgh.
The Scaife Foundations refer collectively to three foundations in Pittsburgh, Pennsylvania. The three subdivisions are: the Allegheny Foundation, the Sarah Scaife Foundation, and the Scaife Family Foundation. A fourth foundation, the Carthage Foundation, was folded into the Sarah Scaife Foundation in 2014. From 2003 to 2010, the foundations were among the largest contributors to the climate change denial movement.
Larimer is a neighborhood in the East End of the city of Pittsburgh, Pennsylvania in the United States. The neighborhood takes its name from William Larimer, who grew up in nearby Westmoreland County and, after making a fortune in the railroad industry, built a manor house overlooking East Liberty along a path that came to be called "Larimer Lane" and later Larimer Avenue.
Sarah Cordelia Mellon Scaife was an American heiress, philanthropist, and Republican Party donor. Her legacy includes the Sarah Scaife Foundation.
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
Richard King Mellon, commonly known as R.K., was an American financier, general, and philanthropist from Ligonier, Pennsylvania, and part of the Mellon family.
William Larimer Mellon Sr., sometimes referred to as W. L., was an American businessman who was active in Republican Party politics. A co-founder of Gulf Oil, he was a member of the prominent Mellon family of Pittsburgh, Pennsylvania.
The Phipps family of the United States is a prominent American family that descends from Henry Phipps Jr. (1839–1930), a businessman and philanthropist. His father was an English shoemaker who immigrated in the early part of the 19th century to Philadelphia, Pennsylvania, before settling in Pittsburgh. Phipps grew up with Andrew Carnegie as a friend and neighbor. As an adult, he was Carnegie's business partner in the Carnegie Steel Company and became a very wealthy man. He was the company's second-largest shareholder and also invested in real estate.
Rachel Larimer Mellon Walton was an American philanthropist, a member of one of the most prominent families in Pittsburgh, Pennsylvania, and the longest serving member of the Pittsburgh Symphony Orchestra's board of directors.
William Larimer "Larry" Mellon Jr. (1910–1989) was an American philanthropist and physician.
Matthew Taylor Mellon II was an American businessman who was a chairman of the New York Republican State Committee's finance committee. He was a member of the prominent Mellon family.
Mellon: An American Life is a biographical book detailing the life Andrew Mellon (1855–1937), American banker, businessman, and philanthropist. Written by Sir David Cannadine, Dodge Professor of History at Princeton University, the book describes how Mellon built his personal wealth by investing and running businesses in major industries, eventually becoming the Secretary of the Treasury under Presidents Warren Harding, Calvin Coolidge, and Herbert Hoover. He was also noted for founding the National Gallery of Art in Washington, D.C. Cannadine acknowledges the controversy that surrounds Mellon and the other industrialists of his era. Like John D. Rockefeller Jr., Henry Clay Frick, Andrew Carnegie, John Pierpont Morgan Sr., and William Randolph Hearst, the businessmen were part of a fundamental transformation of the American economy in the late-nineteenth and early-twentieth centuries.
{{cite web}}
: Missing or empty |title=
(help)The names of fashionable families who were already Episcopalian, like the Morgans, or those, like the Fricks, who now became so, goes on interminably: Aldrich, Astor, Biddle, Booth, Brown, Du Pont, Firestone, Ford, Gardner, Mellon, Morgan, Procter, the Vanderbilt, Whitney. Episcopalians branches of the Baptist Rockefellers and Jewish Guggenheims even appeared on these family trees.
The Mellon family controlled, through ownership of stock, seven of the 200 largest non-financial corporations in 1937. (1) Gulf Oil Corporation was controlled through 70 percent of the common stock owned by members of the Mellon family. Gulf Oil Corporation in turn controlled the Texas Gulf Sulphur Company through predominant minority (34 percent) ownership of common stock. The Mellon family [also] owned 52 percent of the common, 82 percent of the preferred, stock of (3) Koppers United Company. This is a holding company owning all the voting stock of Koppers Company, one of the largest producers of coke and coal in the United States. Koppers Company is also a holding company, owning 67 percent of the Virginian Corporation, which in turn held controlling interests in (4) The Virginian Railway and (5) The Brooklyn Union Gas Company. Slightly more than half of the common stock, and 33.9 percent of the preferred, of the (6) Pittsburgh Coal Company were owned by members of the Mellon family.(7) The Aluminum Company of America was controlled [by the Mellon family] through ownership of 35.2 percent of the common, 25 percent of the preferred, stock, by far the largest block in existence.
Today the Mellons control or own substantial shares in a $6 billion industrial and financial domain. In addition to the holdings in the bank, now the Mellon National, the family owns about 30% of Alcoa, 41.3% of Gulf Oil, 33% of the First Boston Corporation, 40% of Koppers Company, and 100% of Carborundum Company.
"Guilford Transportation Company (GTI) became a major player in carrying freight throughout the Northeastern United States when it entered the railroad business in 1981. It bought not only the Maine Central Railroad but also the Boston and Maine Corporation and the Delaware and Hudson Railway Company...GTI changed its name to Pan Am Systems in 2006. The company is privately owned by an heir to the Mellon banking fortune, Timothy Mellon, and other stakeholders including David Fink, formerly of Penn Central, and his son, David A. Fink.
During the days when Wall Street was as boring as a gray flannel suit, [Thomas Mellon] Evans was one of its more daring and rapacious characters, waging waves of takeover battles. Sometimes, he was victorious, as with the Crane Company, and a cement maker, the Medusa Corporation. Sometimes, he was defeated, as he was with Anaconda and Westinghouse Air Brake.
Judge Thomas Mellon bought the Ligonier and Latrobe Rail Road in 1871 when the line was still incomplete. Mellon changed the name to the Ligonier Valley Railroad and completed the line in 1877.
After losing a good deal of money with this early partisan of the New Deal, which subsequently reversed policy, Harriman and Astor bought a large interest early in 1937 in News-Week. There they joined a group of other important stockholders, which included Ward Cheney, of the Cheney silk family, John Hay Whitney, and Paul Mellon, son of Andrew W. Mellon.
The Post-Gazette's new competition came from the Greensberg— now Pittsburgh—Tribune Review owned by Richard Mellon Scaife, heir to banking, oil and steelmaking fortunes.
At Butler, Pennsylvania, [Andrew] Mellon built the Standard Steel Car Company to manufacture railroad rolling stock.