|
Arthur William Cutten (July 6, 1870 – June 24, 1936) was a Canadian-born businessman who gained great wealth and prominence as a commodity speculator in the United States. He was called to appear before the Banking and Currency Committee in regard to the causes of the Wall Street Crash of 1929. He was under indictment for tax evasion upon his death in Chicago in 1936. ==Early life== Born in the rural community of Guelph, Ontario, Arthur Cutten was the second of nine children of Walter Hoyt Cutten (1844-1915), a prominent Guelph barrister, and his wife Annie McFadden. These nine children were: 1 Walter Edward Cutten (Dec. 23, 1868 - Nov. 23, 1912) 2 ARTHUR WILLIAM CUTTEN (Apr. 13, 1870 - June 24, 1936) 3 Lionel Forbes Cutten (Dec. 1, 1871 - Aug 21, 1938) 4 Marion Mabel Katherine Cutten (Nov. 6, 1872 - July 6, 1873) 5 Evelyn Mary 'Lenore' Cutten (June 18, 1874 - Sep. 11, 1945) 6 Albert Patrick Henry 'Harry' Cutten (Mar 20, 1876 - Oct. 1, 1949) 7 Charles Lawrence S. Cutten (Oct. 8, 1877 - June 15, 1900) 8 Annie Constance 'Connie' Cutten (May 1, 1879 - July 21, 1944) 9 Ralph James M. Cutten (Dec 19, 1887 - Dec. 29, 1970) After studying at Guelph Collegiate, in 1888 a young Arthur Cutten left home, making his way to the United States where he settled in the rapidly growing city of Chicago. Hired by commodity broker A. S. White & Co., he worked as the company's bookkeeper for $4 a week. Cutten's employer was part of a growing business community that made Chicago a major economic bridge between the established financial community in New York City and the emerging farm producers of the American Midwest. Having grown up in a farming community, Arthur Cutten understood the up and down nature of farm production and his job with the Chicago broker afforded him the opportunity to learn the intricacies of trading in commodities on the Chicago Board of Trade. After working at the brokerage house for some time, Arthur Cutten felt confident enough to approach his boss with a request to open a trading account. Dismissed out of hand by his employer because of his lowly position and modest means, the frugal Arthur Cutten used his limited savings from his employment income to begin speculating on commodity prices through the purchase of forward contracts. While highly risky, speculating on the future price of commodities could bring enormous profits on a very small amount of invested capital. Cutten built a small fortune speculating on the price of several products, but most notably by capitalizing on the rising prices during the boom in demand for Midwest wheat. By 1906, his investments had made him a very wealthy young man, and he left his employer to set up his own investment operation with a seat on the Chicago Board of Trade. In the next few years, he made and lost a fortune betting on the price of cotton but accepted losses as a normal part of the business of speculating, and continued to successfully invest. Arthur Cutten frequently referred to himself as a "dirt farmer," and in 1912 he bought a farm property adjacent to property owned by Joy Morton, founder of the Morton Salt Company, not far from Chicago in DuPage County, Illinois in what is now the Hidden Lake Forest Preserve. Cutten called his home "Sunny Acres Farm" and there built a large mansion with extensive gardens that included two , 51⁄2-ton statues representing agriculture and industry; these once stood on the second-floor ledge above the main entrance to the old Chicago Board of Trade Building by W.W. Boyington, which had been torn down in 1929 to make way for the new CBOT building designed by Holabird & Root. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Arthur W. Cutten」の詳細全文を読む スポンサード リンク
|