Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-06-02
Jesse H. Jones Dies at 81:
Held High U. S. Posts

HOUSTON. June 2 (R.-Jess
in. Jones. a Tennessee farm DO.
..Iwho built one Of the Nation
largest fortunes despite only
NTH grade education. is dead.
j The wartime Secretary D
Commerce and head Of the Re
CONSTRUCTION Finance Corp. diet
Hast night at the age Of 50.
| His financial abilities had i'm
pressed three Presidents unde
whom he had served. Woodrow
Wilson, Herbert Hoover an,
Franklin D. Roosevelt.
/ AS head Of the RFC for i
years, Mr.. Jones loaned owe
$50 billion. As the No. / citizei
Iof Houston, he built the skylin
of the South's largest city, own
ling IS buildings ranging up Il
IS7 stories in height. He wa
iIpublisher Of the Houston Chron
Iicle and owned three of tn
] city's largest hotels.
i Mr.. Jones underwent an opera
ton March % for a kidney block
age. He re-entered the hospita
May 8 and had been CRITICAL.
Jill about 10 days.
The widow, Mrs. Mary Glib
Jones. had left the hospital short
lily before his death.
i At the bedside were a nephew
John T. Jones, jr.. president o
the Houston Chronicle, and
(step) granddaughter, Mrs. Johl
IA. Beck.
/ Other survivors include. a step
son, Tilford Jones, Houston at
|torney, and a sister. Mrs. DAME
II. Garrett. Houston.
/ Funeral services will be hell
lat II am. (CST) Monday at st
.IPaul's Methodist Church II
!IHouston. The body win lie II
Estate at the church from 8 am
'Iuntil time for the services. Pri
.Ivate graveside services will b
held at Houston's Forest Parl
Cemetery.
| Jesse Holman Jones wa
fabulous even for a Texan.
He lent more money than an,
other man in history. He bull
the city Of Houston, Tex, almos
by himself. He was the center O
1.-THE biggest Of all the New Dea
family rows. And he was tn,
only man ever to be presenteC
formally to the King Of England
lin his stocking feet.
Began as Country Boy"
A self-styled country boy
.lwho set out on his own, penni'
less, when his father died, Jess
Jones started his business careel
lin numbering. He amasSed a hug,
personal fortune in Texas IL
lumber. banking. publishing ant
building.
He always called himself {
builder" and the Houston sky.
line. is a memorial to his work
Mr. Jones built and owned NOR,
than 80 skyscrapers and Office
buildings there. His holdings in.
Icluded three hotels and the
Houston Chronicle. of which hi
was publisher and board chair.
man.
| The young Jesse Jones starteC
1t all on credit. He borrowed
$500 from banksand then re.
paid the loan without spending
it. He did the same with $500
$1,000 and $4,000. Then, wher
he really needed some funds tt
start the South Texas Lumber
Co.. his credit was well estab.
lished, and the bank supplied
$4,000.
Bid High for Convention
AS his fortune grew, Mr.. Jone;
became interested in politics anc
gave generously to the Demo.
Gratis. He lured the 1928 Demo.
cratic National Convention tt
Houston by handing the Dem
ocratic National Committee Q
signed blank check.
He himself received "a con.
vention votes for the presiden.
tial nomination that year CA
Smith won it,. and he was men.
toned frequently in presidential
years as a possible leader or No
2 man on the ticket.
| It was Republican President
Hoover, however, who brought
Mr.. Jones into the Government
in a top job. He named the
Texan to the board Of the Re.
construction Finance Corp, ere.
ated by Mr.. Hoover to put finan.
cial props under sagging banks
railroads and manufacturers.
\ President Roosevelt made Mr.
Jones RFC chairman in 1888.
Jesse Jones' skill with a dollar
surprised even the most opti-
mistic Of his supporters. Instead
of losing money in efforts to
rescue bankrupt and failing
businesses, Mr.. Jones made q
profit for the RFC through the
sos.
'He handles Government
money just like he does his own, y
was a comment often heard in
Washington. He passed out $50
billion.
President Roosevelt named
Mr.. Jones Secretary of CON-
merce in 194l.
Mr.. Jones was one Of the first
high officials to face up to World
lin Mpntnrtatt