Los Angeles herald., 1906-01-17
Greatest Merchant of His Day

OF tbs LAY
Marshall Field was without question
the greatest and most successful mer
chant of his generation. and he was
one of the worlds richest men. his
wealth being estimated at anywhere
from $10O,0OOOOO. to 5000 900, 600. He was
native of Conway, Mass. where he
was born in 1885. His father was a
farmer and Mr. Field obtained his ed
ucation at the public schools of Con
way. AT the age of II he became a
clerk in grocery store in Pittsfield.
Mass, where he remained for four
years. He came to Chicago in 1856 and
began his career in this city as a clerk
III the wholesale drygoodS establish
ment of Cooley, Wadsworth & Co.
during the four years he remained
with this house he showed marked
commercial ability and in 1860 he was
given a partnership. The late Levi
u. Letter also was connected with the
firm and in 1865 the two young men
withdrew and in company with the late
Potter Palmer, organized the firm of
FIELD, Palmer & Letter, which con-
t!nued until 1867, when Mr.. Palmer
withdrew and the firm became Field.
Letter & Co. This continued until
1881, when Mr.. Letter retired and the
firm became known as Marshall Field
e Co, as it is today.
The house forged to the front very
rapidly and it is now the largest en-
terprise of its kind in the world, having
numerous branches througout Europe
ana Asia. Its remarkable success is
attributed almost entirely to Mr.. Field
and his methods. He made it a rule
lever to borrow money and to never
issue note. He paid cash for every-
thing he bought, not only in connece-
tlon with his drygoodS enterprise, but
for all his dealings in real estate and
other investments. The great fire of
1871 was the only reverse ever experi-
enced by the house of Marshall Field
& Co. Its losses at that time aggre-
gated over $1,000,O00.
In 1872 the wholesale department was
separated from the retail store and the
latter now covers one city square, and
is located in buildings twelve stories
in height.
While building up the drygoods store,
which has grown to such mammoth
proportions, Mr.. Field, who was a firm
believer in the future of Chicago, in
vested heavily in real estate and to
the appreciation of this value he owed
much of his wealth.
At the close of the worlds fair IN
1898 Mr.. Field endowed with 1000 900
the museum now known as the Field
Columbian museum, for which a home
valued at $S0OO0OO is shortly to be
erected in the heart of the city. He
later gave to the University of Chi
cago land valued at $3.50, 900 to be used
for athletic purposes and a portion of
it is known today as Marshall field.
He was extremely charitable in other
directions, never falling to contribute
to a cause which he knew to be
worthy.
Personally Mr.. Field was a hand
some man, a trife above medium
height, slender and well proportional
He was popular socially, although he
never mingled in society as the word
is generally understood. In his per-
sonal tastes and habits he was quiet
and modest. In politics he never In
terfered although he was always
ready to aid with time and money
any movement looking toward better
national or municipal government. He
was prominently mentioned as a vice
presidential candidate on the Demo-
cratic ticket In 1904. He was several
times offered the second place on the
ticket, but refused to accept. One
night he was called up at his home
in this city by the Associated Press
and for the second time within a week
asked If he intended to accept the
nomination. He declared that he would
not and added:
There is no need of the Associated
Press asking me this question again.
IT has my authority to deny the story
as often as 1t likes, no matter where
it comes from"
Mr.. Field was twice married, his first
wife having died several years ago.
Mrs Field left two children, Ethel
now married and residing at Leaning
ton, England and Marshall Field, ir.
who accidentally shot himself at his
home In this city November 90. 19O5.
and died Ave days later.
on September 8, 1905. Mr.. Field was
married in London, England, to Mrs
Cation, the widow of the late Arthur
Cation of Chicago.