
Samuel Insull
English-American business magnate (1859–1938)
Samuel Insull (November 11, 1859 – July 16, 1938) was a British-American business magnate. He was an innovator and investor based in Chicago who helped create an integrated electrical infrastructure in the United States.2
From Wikipedia’s article on Samuel Insull (this version), CC BY-SA 4.0.
Born Nov 11, 1859, died Jul 16, 1938.1
About
Insull created holding companies that purchased utilities and railroads. Insull was responsible for the building of the Chicago Civic Opera House in 1929.
Due to the Great Depression, Insull's vast Midwest holding company empire collapsed, and he was accused of profiting personally by selling worthless stock to unsuspecting investors who trusted him because of his position and reputation. Following a seven-week trial, he and 16 co-defendants were acquitted of all charges after two hours of jury deliberation.
From Wikipedia’s article on Samuel Insull, shared under CC BY-SA 4.0.2
Companies
Early life and education
Insull was born on November 11, 1859, in London, the son of Insull Insull, a tradesman and lay preacher who was active in the temperance movement, and Emma Short. He was one of five siblings who survived to adulthood. His younger brother, Martin, became a major executive at Sam's companies. Insull's career began as an apprentice clerk for various local businesses at age 14. He went on to become a stenographer at Vanity Fair. Through a newspaper ad, the 19-year-old became the private secretary and bookkeeper to Colonel George Gouraud, the London representative of Thomas Edison's telephone companies. When he learned of a job with Edison in the United States, Insull indicated he would be glad to have it, provided it was as Thomas Edison's personal secretary.
In 1881, at the age of 21, Insull immigrated to the US, complete with side whiskers to make him appear older than his years. In the decade that followed, Insull took on increasing responsibilities in Edison's business endeavors, building electrical power stations throughout the US. With several other Edison Pioneers, he participated in Henry Villard's January 1889 founding of Edison General Electric, which later became the publicly held company known as General Electric. In 1892, Insull was offered the post of second-vice-president at General Electric, but was unhappy at not being named its president. When the presidency went to another, Insull moved to Chicago as head of the Chicago Edison Company. Another consideration is that he was caught between opposing factions when J. P. Morgan combined the Thomson-Houston Electric Company and Edison General Electric to form the new company in April 1892. Those loyal to Edison accused Insull of selling out, and in fact he did welcome the infusion of capital, from the Vanderbilts, from J. P. Morgan, and others, as necessary for the company's future development. Edison forgave him, but others did not, and it seemed a good idea to move on to a new company in a new place.
From Wikipedia’s article on Samuel Insull (this version), CC BY-SA 4.0.
Career
Occupation: businessperson, entrepreneur.8
- Date not recordedFounded Middle West Utilities3
- Date not recordedFounded Public Service Company of Northern Illinois4
- Date not recordedFounded Insull Utilities Investment Inc.5
- Date not recordedFounded Chicago Rapid Transit Company6
- Date not recordedChair, Chicago District Electric Generating Corporation7
Personal life
- BornNov 11, 1859, London9
- DiedJul 16, 1938, Paris10
- CitizenshipUnited Kingdom of Great Britain and Ireland, United Kingdom11
- SpouseGladys Wallis12
On May 22, 1899, Samuel Insull married a "exquisitely beautiful and clever" Broadway ingénue actress whose stage name was (Alis) Gladys Wallis (1875–September 23, 1953). Her real name was Margaret Anna Bird. Gladys Wallis was popular with New York audiences and appeared in W. H. Crane's company first in the play For Money in 1892 and in his subsequent productions. Gladys played the role of Maggie Rolan in Brother John (1893); a New York Times reviewer listed her as one of the most popular players, one who "deserved quite all the applause [she] received." Prior to her marriage to Insull, Gladys also appeared on the New York stage in On Probation and Worth a Million. At the height of her fame she was interviewed (rather unsuccessfully) by Frank Norris.
At the time of their marriage, Insull was 41 and Gladys was 24. She had been on the stage from childhood. The Insulls lived outside Libertyville, Illinois, in a Mediterranean styled mansion with extensive grounds that later became the Cuneo Museum, in Vernon Hills. They also had an apartment at 1100 North Lake Shore Drive in the city and a furnished suite at the Civic Opera House. The Insulls had one son, Samuel Jr.
Both husband and wife were patrons of the arts. Because of this Insull was instrumental in the building of Chicago's Civic Opera House, which opened November 4, 1929, with Aida. The opera and its cast were chosen by Insull. Samuel Insull was also known for his charitable works in other areas, donating large sums of money to local hospitals, then calling on others with similar resources to do the same. He donated freely to African-American charities in Chicago, asking the wealthy to follow his example. At the time the US entered WWI, Insull was named head of the Illinois Defense Council by President Woodrow Wilson; his efforts sold over a million dollars of War Bonds.
From Wikipedia’s article on Samuel Insull (this version), CC BY-SA 4.0.
Links
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataSamuel Insull on Wikidata
- 2WikipediaSamuel Insull on Wikipedia
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