The Story of Edward Francis Hutton, the founder of E. F. Hutton &Co

Edward Francis Hutton was an American financier, who has continued to be remembered because of his various ventures. As the founder of E. F. Hutton & Co, one of the largest financial firms in the United States, Edward Francis Hutton’s legacy lives on.

Hutton was born in Manhattan, New York City as the son of James Laws Hutton and Frances Elouise Hulse Hutton. Hutton’s father died when he was only ten years old, with two young siblings. They were raised by their mother.

Hutton’s family has been known for their links to notable individuals. Hutton’s younger brother married Edna Woolworth, the dime heiress, and became the father of Barbara Hutton.

Early Life and Education

Hutton spent his early years in New York City where his father was working. After his father died at a young age, he went on to spend life with their mother and two young siblings. Hutton was focused on his studies, and he attended the New York Latin School before he transferred to P. S. 69.

Hutton began working as a teenager. At the age of fifteen, he began working at a gear factory. Two years later, he began working in the mailroom of a securities firm. He graduated from Trinity Chapel High School and joined Packer’s Business College.

Career

Hutton and his brother Franklyn Laws partnered to open E. F. Hutton & Co. in 1904. The American Stock brokerage firm became one of the most respected firms under the leadership of the Hutton brothers. For several decades, it has continued to remain one of the most respected and the second-largest firms in the United States.

The firm became one of the earliest to open offices in California. Despite an earthquake destroying the offices in 1906, the firm has continued to grow, maintaining its status as one of the largest over the years. Gerald m Loeb joined the firm later, and he ensured steady growth during his leadership.

Hutton was also the company’s chairman and he became the chairman of General Foods Corporation and wrote a newspaper column for years before he died in 1962.

Personal Life

Hutton was married to his first wife Blanch Horton from December 1978 to December 1917. Blanch was the daughter of one of the investment bankers Henry Lawrence Horton. She died of a Spanish Flu pandemic. The couple had one son, Harcourt Horton Hutton who died prematurely in a horse riding accident. Harcourt died on September 25, 1920, in Long Island.

Hutton married General Foods heiress Marjorie Merriweather Post in 1920. Marjorie was focused on identifying companies for acquisition, and Hutton was active in arranging the financing acquisitions. The couple had one child and they divorced in 1935 after Marjorie discovered that Hutton had other women.

Hutton’s daughter with Marjorie, Nedenia Marjorie Hutton was an actress who also served as the only female director on the board of E. F. Hutton & Co.

Properties and Real Estate

Hutton was known to have various luxurious properties. In 1922, he built a home in Hillwood Long Island. His wife Post kept the property after the divorce. He had other homes in Horgacito, Palm Beach Florida, and Hatfield, Old Westbury New York.