New-York tribune., 1882-08-15
OBITUARY
JESSE HOYT.

One Of the best-known merchants OF this city,
Jesse Hoyt died at a quarter before o'clock yes
terday morning at his house. No. 81 West Forty
eighth-st. complication OF diseases had been
preying on hrs system for a year. Recently tumor
formed on his abdomen and spread around his body.
II attacked of the ducts leading TO the digestive
organs. 80 that he received no nourlshment from
food and slowly though panlessly starved to death.
During Sunday night he was unconscious at times.
His death was quiet. His wife and bis brothers
were with him. and Dr. Dillon. the attending phys-
clan. Mr.. Hoyt also left an unmarried daughter.
He had accumulated by great persistence and
energy a fortune estimated at $1O,OO0,OOO. The
funeral will be held at 10 a m. on Thursday in the
Broadway Tabernacle. The burial Will take place
at Woodlawn Cemetery.
Mr.. Hoyt was born in this city on March H.
1915. He received only common school educa-
tiOn. At the age of seventeen years, he began his
business life as a clerk in the wholesale grocery
house of c. & L. Denison. for many years the larg-
est honse of it's kind in the State Upon his arrival
at majority he was taken into the firm as a part
ner During the cholera epidemic of 1888. when
every other person in the employ of the firm was
either frightened away or was sick, Mr.. Hoyt
worked at the store every day and at night watched
with one of the partners who was Ill with the
disease In 1888 he retired the firm to engage
ness with his father. At this time
Mr.. Hoyt had saved about $25 600 and he has often
said that he had never felt so rich since then. His
father had previously been a member Of the
firm of Eli Hart & Co.. Of which the house of David
Dows & Co. was an outgrowth lie connected him
self with his son under the name of James NJ Hoyt
& Son Young Nj HoytGontinued with his father
until the latter's death in 1854. when the firm
reorganized under the name OF Jesse Hoyt & Co..
I'D other members being Jesse's brothers Samuel W.
and Alfred W.. and his former bOokk eper, Henry
w. Smith Samuel NJ. Hoyi retired from the busi-
ness in 1858 and Mr. Smith in 1861. In 1868 Theo-
dore l. Hustled and Leonard Hazeltine both clerks
were admitted TO the firm as partners. In Nav.
1881. jesse Hoyt and his brother Alfred ". retired.
leaving the business to the junior partners, who
Ill coDtInre AZ No. 16 State-St.
Mr.. HOyt took a deep interest in al matters con-
nected with the grain trade of New York. and he Is
tins city the commercial centre of the conntrv than
any other merchant. He was actively engaged in
TIE grain trade from its very beginning IN this city,
before there anv shipments from the lakes.
New-York State was then considered the western
limit OF the trade. and aloOps brought all the
grain to market from Albany and other
points on the Hudson River To his energy and
foresight is attributed partly the grrat develop
ment Of the grain trade Of the West. Approaching
the Importance of the Western States he took
great interest in their growth and development.
His first investment that part of the country was
ir 1SJ when be bought large tracts of pine land IN
the Saginaw Valley Michigan The city OF East
Saginaw. which has population of $4,000 is
built upon land purchased then by Mr.. Hovt.
He employed men 10 cut the timber. hal vessel
constructed for s Transportation TO market through
the lakes built hotel and established bank with
o capital of 5000 600 of which he retained the con-
trolling interest To encourage the Immigrants to
own property. he buIlt cottages and sold them AT
cost. Then discovering that the country was rich
in salt he bored for and got fine salt water a.
is obtained az the OnOndaga works.
loNrt l-p l4rrp pyCfa of liuf
and PeTe argue te Railroad, which. by his energy,
was completed to LudingtOn. thus forming direct
hhe from Toledo 70 that point, and connecting
wIib other roads IN the Northwest. He was presi-
dent of his road at the time of his death. lie
also connected with other large railroad enterprises
IN the " est and was associated with II. NJ. Barney.
A. H. Barney William G.. Fargo, b. b. Cheney, and
Angus Smith. ii the building OF the first east and
west railroa through Mnueso'a. which IS known
a, the Wiuona and -. Peter Railroad. Whcu this
road was completed, u was sold 10 the Chicago aud
Nor hwestern Railroad. IL was a valuable pur
chase, since II owned some Of the best land in Min
nesot. Nit. llOyt was also interested IN building
the Milwaukee and Northern Railroad. the scun-
sin and Michigan. and the Outonag0n and Brue
River, which from Mil Gaukee DoTth TO Luke
Superior passing through vast iron copper ard
timber lands. de wa- "A director IN the Chesapeake
and ONO RAILROAD. il which he became largely III
terestcd when II was reOrganized recently.
Ia connection wrh Angus nmi b, of Milwaukee,
he built the first railroad gram elevator at Mil
waukee for the Chicago. Milwaukee and 81. Paul
Railroad. Aterwari he built TWO Other elevators
aud sOln them 10 fhe same company. lie also built
three large gram elevators IN Milwaukee for tine
Chicago and Northwestern Railroad. \ few years
ago ne became largely Interested III the grain ee-
Yators az lucagC in connection with the ~. Paul
end other northwestern raiTOads. Two years AGO
lac Guilt the Large elevator IN jersey CITY for hand
Ing the gram coming by the Newl OrK, Lake Enc
and Western Railway.
Mr.. HoYt always appreciated the fact that much
OF ais wealth gained partly by the labor Cf
others, and he shared his prosperity with those
sociaied with him HIS mid manners, his genial
disposition and ms readiness to give advice IN
Or UflI
urut characteristic, with him. lie T. said never TO
have spOAen cross word to his subordln1tes. He
was "A prOmincn, and pOpuiar member of the
Produce l.Nch.tnge from it, organization. He
a director OF the Merchants Exchange National
Bank. the Home ana Commercial Fire Insurance
COrlpauits sand the New-Nork Elevated Railroad.
He refused 10 have his name associated with other
corporations Oi a similar character because lack of
time prevented hIIn vlGg the attention 10 them
winch he thought the stockholders had right to
demand.
A meeting Of the members Of the Produce Ex-
change Will he held al 2l5 p. III. to-day 10 take
ton with regard 10 Mr. Hoyt's death.