Charles William Harkness (December 17, 1860 – May 1, 1916)[1] was an American businessman and railroad executive. He was director of Standard Oil; the Southern Pacific Railway Company; the Chicago, Milwaukee, and St. Paul Railway; the Baltimore and Ohio Railroad, and the Tilden Iron Mining Company. He was a son of Stephen V. Harkness, an original investor in the company that became Standard Oil, and his second wife, the former Anna M. Richardson.[2]
Charles W. Harkness | |
|---|---|
 | |
| Born | December 17, 1860 |
| Died | May 1, 1916 (age 55) |
| Resting place | Woodlawn Cemetery (Bronx, New York) |
| Education | Yale College (1883) |
| Occupation(s) | Business investor and railroad executive |
| Parent(s) | Stephen V. Harkness Anna M. Richardson |
Early life
editCharles was born in Monroeville, Ohio on December 17, 1860. His parents were Stephen V. Harkness (1818–1888) and the former Anna Marie Richardson (1837–1926), his father's second wife. He was the brother of Edward Harkness, a noted philanthropist and half-brother of Lamon V. Harkness. He was a cousin of William L. Harkness.[2]
His early education was in Cleveland at The Brooks Military Academy. He earned a B.A. from Yale College with the Class of 1883. While at Yale, he was described as "care-free, happy, irresponsible as the rest of us."[3]
Career
editOn his father's death in 1888, Charles inherited stock in Standard Oil amounting to the second largest holding in the company, surpassed only by that of the Rockefeller family.[4] Harkness became a director at Standard Oil and was a director of the Southern Pacific Railway Company; the Chicago, Milwaukee and St. Paul Railway; the Baltimore and Ohio Railroad; and the Tilden Iron Mining Company.[5] He also managed his father's immense holdings.[5]
Personal life
editOn May 27, 1896, Harkness married Miss Mary Warden in Philadelphia, PA. Mary was the daughter of William G. Warden, who was an early Standard Oil partner, and the granddaughter of industrialist Daniel Bushnell.
Harkness purchased the Henry Flagler townhouse at 685 Fifth Avenue in New York City and also owned a home in Madison, New Jersey that was designed by James Gamble Rogers and a winter home in St. Augustine, Florida.[2]
Harkness fell seriously ill in the fall of 1915. After spending part of winter in St. Augustine at his wife's family home at Warden Castle, he returned home to New York, where he died May 1, 1916.[2] He was buried in Woodlawn Cemetery.
He left an estate of $170 million, worth $4.76 billion in 2023.[6] Since he had no children, the large portion of his Standard Oil stock was left to his brother Edward S. Harkness.[4][7] Half his residual estate, his home in New York at 2 West 54th Street and his country home in Madison were bequeathed to his wife Mary. He left $100,000 to his brother Lamon V. Harkness, although Lamon died a year earlier.[8]
Legacy
editHarkness Tower at Yale is named after Charles W. Harkness. Anna Harkness, his mother, donated $3,000,000 to build the Memorial Quadrangle of dormitories in his memory. Harkness Tower contains the Yale Memorial Carillon, a carillon of 54 bells, the largest of which is inscribed "In Memory of Charles W. Harkness, Class of 1883, Yale College."[3]
The Cleveland Museum of Art has a $100,000 permanent endowment known as the Charles W. Harkness Endowment Fund,[9] which was created through a donation from his widow, Mary Warden Harkness.[10]
References
edit- ^ "Chas. W. Harkness Left An Estate of $60,000,000". New York Times. 8 December 1916. Retrieved 27 May 2015.
- ^ a b c d "C. W. HARKNESS. OF STANDARD OIL, DIES; Third Largest Holder, with Brother, of Company's Stock a Victim of Apoplexy at 56. A DIRECTOR IN RAILWAYS Member of Many Clubs and Owner of the Yacht Agawa Was Educated for a Lawyer". The New York Times. 2 May 1916. Retrieved 15 July 2017.
- ^ a b "Yale University, A History of the Yale Memorial Carillon". Archived from the original on 2011-02-28. Retrieved 2010-09-06.
- ^ a b "Forbes, America's Richest". Forbes. Archived from the original on 2013-01-17. Retrieved 2017-08-25.
- ^ a b [1] Case Western Reserve Society Annual Report - October, 1917
- ^ "C.W. HARKNESS LEFT $170,000,000 ESTATE; Standard Oil Holdings to Brother, Edward S., Make Him Third Largest Holder. $500,000 BEQUEST TO YALE Presbyterian Hospital Gets $350,000;- Widow and Brother Share Residuary Estate". The New York Times. 9 May 1916. Retrieved 15 July 2017.
- ^ Klein, Henry H. (December 2005). Dynastic America and Those Who Own It. ISBN 1-59605-671-1.
- ^ [2] CW Harkness, New York Times Obituary May 9, 1916
- ^ The Bulletin of the Cleveland Museum of Art, Vol. 15, No. 2, February 1928
- ^ "CHAS. W. HARKNESS LEFT AN ESTATE OF $60,000,000; Tax Appraisal Shows Oil Financier Was One of the World's Richest Men. UP $15,000,000 SINCE DEATH Began as a Young Man, Lately Out of School, with $1,500,000 Inherited from Father. HELD LITTLE REAL ESTATE Fortune Nearly All in Stocks and Bonds -- Died 15 Days Before State Tax Was Advanced. C.W. HARKNESS LEFT $60,000,000 ESTATE". The New York Times. 8 December 1916. Retrieved 15 July 2017.