Levi Leiter | |
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 Levi Leiter, 1894 | |
| Born | Levi Ziegler Leiter (1834-11-02)November 2, 1834 Leitersburg, Maryland, U.S. |
| Died | June 6, 1904(1904-06-06) (aged 69) Bar Harbor, Maine, U.S. |
| Known for | Co-founder ofMarshall Field & Company |
| Spouse | |
| Children | Mary Curzon, Baroness Curzon of Kedleston Margaret Howard, Countess of Suffolk |
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Levi Ziegler Leiter (November 2, 1834 – June 9, 1904) was an American businessman based inChicago. He co-founded what later became theMarshall Field & Company retail empire.[1][2]
Leiter was born to Anne (née Ziegler) and Joseph Thomas Leiter,[3] ofLeitersburg, theWashington County, Maryland town founded by his granduncle Andrew Leiter.[4] Although some have confused Leiter's ancestry asJewish, his family was in fact ofSwiss descent; he was raised aLutheran.[3][5][6][7][8]
As a boy, Leiter worked for adry goods business inSpringfield, Ohio. In 1853 he began working as a bookkeeper at Chicago's then-largest dry goods company,Cooley, Wadsworth & Co., where he worked alongsideMarshall Field andPotter Palmer. Leiter and Field became partners in the firm, but in 1865, they sold their interest in the company toJohn V. Farwell[9] and went into business, along with Palmer, as Field, Palmer, Leiter & Co.
In 1867, Palmer left his business to pursue real estate ventures, and the company was renamed Field, Leiter & Co. Field & Leiter built a six-story store on State Street in 1868. It was rebuilt after theGreat Chicago Fire in 1871. From 1874 to 1880, Leiter was a member of the Executive Committee of theChicago Relief and Aid Society, which helped collect and distribute funds to rebuild Chicago after the fire. When Leiter sold his interest to Field and retired from the dry goods business in 1881, the name was changed to Marshall Field and Company.
As Leiter's wealth increased, he invested much of his savings in Chicago real estate. After retirement from Field, Leiter & Co., he devoted his attention to real estate and corporate interests.[10] He later devoted time to travel and philanthropy. He was the first president of theCommercial Club of Chicago, the second president of theChicago Art Institute, a president of theChicago Historical Society, and a prominent figure in theIllinois Trust Company.
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From 1892 to 1898, his son Joseph was his agent. Joseph attempted to corner the wheat market from 1897 to 1898, and was briefly the largest individual holder of wheat in the history of thegrain trade. Concerted action by his competitors broke the corner.[11] Levi paid millions of dollars to settle Joseph's debts after the market crashed in 1898.[12] Levi's losses were reputed to run to $10 million. Joseph was later the founder of the company town ofZeigler, Illinois, and president of theZeigler Coal Company and theChicago, Zeigler and Gulf Railway Company; he was also a director of theAmerican Security and Trust Company.[11]
In 1866, Leiter married Mary Theresa Carver (1844–1913) of Chicago. From 1885 until her death, she served as the second Vice Regent for Illinois in theMount Vernon Ladies' Association, which is occupied with the preservation of George Washington'sMount Vernon estate. Together, they were the parents of:[13]
Leiter died of heart disease at theVanderbilt family cottage inBar Harbor, Maine on June 9, 1904.[18] His estate became the subject of eight years of litigation.
In 1891, Leiter had a mansion built adjacent toDupont Circle inWashington, D.C. This home, theLeiter House, was designed byTheophilus P. Chandler.[19][20] After his death, his D.C. home was used for elaborate parties hosted by his widow. During WWII, the mansion was leased to the U.S. Government for office space. The property was sold and the structure was demolished in 1947. The site is now the location of theDupont Hotel.[19][20]
Through his eldest daughter, he was the maternal grandfather ofLady Irene Curzon (later Baroness Ravensdale; 1896–1966);Lady Cynthia Curzon (1898–1933), the first wife ofSir Oswald Mosley; andAlexandra Curzon (1904–1995), the wife ofEdward Dudley Metcalfe, the best friend, best man and equerry ofKing Edward VIII.[21][22]
Through his daughter Margaret, he was the maternal grandfather ofCharles Howard, 20th Earl of Suffolk (1906–1941); Hon. Cecil John Arthur Howard (1908–1985), marriedFrances Dean; and Lt.-Cdr. Hon.Greville Reginald Howard (1909–1987).[23]
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