David Eccles (businessman)
Encyclopedia
David Eccles was an American businessman and industrialist who founded many businesses throughout the western United States
and became Utah
's first multimillionaire.
to William and Sarah Hutchinson Eccles. In 1863 his family moved from Glasgow to the United States of America, eventually settling in Ogden Valley
located in eastern Weber County, Utah
. The move was made because of their joining The Church of Jesus Christ of Latter-day Saints and their desire to be near the body of the church. He lived in both Eden
and Liberty, Utah
.
After struggling to make a living, the family moved to Oregon City, Oregon
. There they worked in a new mill. He worked for the mill for a year, then for a lumber corporation, and the Oregon and California Railroad
. The family moved back to Ogden, Utah
in 1869 after the completion of the Transcontinental Railroad
hoping it would bring them work.
In the Ogden area, he worked cutting wood and building homes. He worked as a freighter and for the Union Pacific coal mines. He also worked at a sawmill at Monte Cristo east of Ogden.
In 1874 he attended Louis Moench's school in Ogden. It was there he met Bertha Marie Jensen and married her in 1875. They had 12 children from this marriage.
While he had been working, he saved up a considerable amount of money and put it to other uses. He started the Eccles Lumber Company and several other enterprises. Through supplying ties for railroads, he knew the local circumstances of where the railroads were building and the opportunities available. He opened lumber mills, shingle mills, planing mills, an electric plant, and other entities. He followed the railroads and opened mills in other locations in Oregon and Washington states. He and his associates built the Sumpter Valley
and Mount Hood
railroads. It was through these and other railroads that Eccles shipped the lumber and other goods to Utah.
Eccles met Ellen Stoddard, the daughter of his partner, John Stoddard. Under the practice of polygamy
at the time, David married Ellen, and they made their home in Logan, Utah
where he built a lavish yellow brick mansion for his new bride using lumber imported from his corporation in Oregon. (The home is on West Center Street.) Marriner Stoddard Eccles is a son of this marriage.
Eccles was a hard worker. He reported himself to have traveled over 44000 miles (70,811 km) in 1904. While friends encouraged him to slow down, he preferred to "die in the harness." One of his hallmarks was integrity and self-reliance. His companies prospered on his no debt plan, and view of achieving success rather than money.
David always put his children to work early in life. They worked along with the crews on the railroads, mills, and lumber yards. They were taught as many aspects of the businesses as they were willing to learn. Several went and served missions for the LDS Church. One son graduated from University of Michigan Law School
, another from Columbia University
, others from Brigham Young College
, Utah State University
, and the University of Utah
.
With the estimated 4-7 million dollars he made, mostly from his Oregon enterprises, he invested heavily in Utah. He purchased stock in banks, canneries, insurance companies, railroads, factories, mills, mines, and various other companies. The Utah Construction Company
built over 700 miles (1,126.5 km) of track for the Western Pacific Railroad
and led the Six Companies
in constructing the Hoover Dam
. David Eccles served as the second president of Utah Construction Company
after the death of long-term associate Thomas Dee
. He also served as founder of a number of companies, one of which was the Amalgamated Sugar Company
.
Eccles served on the Ogden City Council and as their mayor from 1888-1890. He was known for his aid to the LDS Church for lending large amounts of money to the church at no interest. At the time of his death, he was the president of 16 industrial corporations and 7 banks. He also was serving as a director in 24 other banks and industries. He is Utah's first multimillionaire.
He died of a heart attack in Salt Lake City, Utah
on December 6, 1912 at the age of 63.
There are a host of businesses named after Eccles and his descendants. The David Eccles School of Business
is at the University of Utah
. The David Eccles Conference Center is in downtown Ogden, Utah.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and became Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
's first multimillionaire.
Biography
Eccles was born in Paisley, ScotlandScotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
to William and Sarah Hutchinson Eccles. In 1863 his family moved from Glasgow to the United States of America, eventually settling in Ogden Valley
Ogden, Utah
Ogden is a city in Weber County, Utah, United States. Ogden serves as the county seat of Weber County. The population was 82,825 according to the 2010 Census. The city served as a major railway hub through much of its history, and still handles a great deal of freight rail traffic which makes it a...
located in eastern Weber County, Utah
Weber County, Utah
Weber County is a county located in the U.S. state of Utah, occupying a stretch of the Wasatch Front, part of the eastern shores of Great Salt Lake, and much of the rugged Wasatch Mountains. As of the 2000 census, the population was 196,533, an increase of 24.1% over its population in 1990. By...
. The move was made because of their joining The Church of Jesus Christ of Latter-day Saints and their desire to be near the body of the church. He lived in both Eden
Eden, Utah
Eden is a census-designated place in Weber County, Utah, United States. It lies between the North and Middle Fork of the Ogden River, north of Pineview Reservoir. The elevation is . The population was 600 at the 2010 census...
and Liberty, Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
.
After struggling to make a living, the family moved to Oregon City, Oregon
Oregon City, Oregon
Oregon City was the first city in the United States west of the Rocky Mountains to be incorporated. It is the county seat of Clackamas County, Oregon...
. There they worked in a new mill. He worked for the mill for a year, then for a lumber corporation, and the Oregon and California Railroad
Oregon and California Railroad
The Oregon and California Railroad was formed from the Oregon Central Railroad when it was the first to operate a stretch south of Portland in 1869. This qualified the Railroad for land grants in California, whereupon the name of the railroad soon changed to Oregon & California Rail Road Company...
. The family moved back to Ogden, Utah
Ogden, Utah
Ogden is a city in Weber County, Utah, United States. Ogden serves as the county seat of Weber County. The population was 82,825 according to the 2010 Census. The city served as a major railway hub through much of its history, and still handles a great deal of freight rail traffic which makes it a...
in 1869 after the completion of the Transcontinental Railroad
Transcontinental railroad
A transcontinental railroad is a contiguous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders. Such networks can be via the tracks of either a single railroad, or over those owned or controlled by multiple railway companies...
hoping it would bring them work.
In the Ogden area, he worked cutting wood and building homes. He worked as a freighter and for the Union Pacific coal mines. He also worked at a sawmill at Monte Cristo east of Ogden.
In 1874 he attended Louis Moench's school in Ogden. It was there he met Bertha Marie Jensen and married her in 1875. They had 12 children from this marriage.
While he had been working, he saved up a considerable amount of money and put it to other uses. He started the Eccles Lumber Company and several other enterprises. Through supplying ties for railroads, he knew the local circumstances of where the railroads were building and the opportunities available. He opened lumber mills, shingle mills, planing mills, an electric plant, and other entities. He followed the railroads and opened mills in other locations in Oregon and Washington states. He and his associates built the Sumpter Valley
Sumpter Valley Railway
The Sumpter Valley Railway is a heritage railroad located in Baker County, in the U.S. state of Oregon. Built on a right-of-way used by the original railway of the same name, it carries excursion trains on a roughly route between McEwen and Sumpter. The railroad has two steam locomotives and...
and Mount Hood
Mount Hood Railroad
The Mount Hood Railroad is a heritage and shortline freight railroad located in Hood River, Oregon, east of Portland, Oregon, United States....
railroads. It was through these and other railroads that Eccles shipped the lumber and other goods to Utah.
Eccles met Ellen Stoddard, the daughter of his partner, John Stoddard. Under the practice of polygamy
Polygamy
Polygamy is a marriage which includes more than two partners...
at the time, David married Ellen, and they made their home in Logan, Utah
Logan, Utah
-Layout of the City:Logan's city grid originates from its Main and Center Street block, with Main Street running north and south, and Center east and west. Each block north, east, south, or west of the origin accumulates in additions of 100 , though some streets have non-numeric names...
where he built a lavish yellow brick mansion for his new bride using lumber imported from his corporation in Oregon. (The home is on West Center Street.) Marriner Stoddard Eccles is a son of this marriage.
Eccles was a hard worker. He reported himself to have traveled over 44000 miles (70,811 km) in 1904. While friends encouraged him to slow down, he preferred to "die in the harness." One of his hallmarks was integrity and self-reliance. His companies prospered on his no debt plan, and view of achieving success rather than money.
David always put his children to work early in life. They worked along with the crews on the railroads, mills, and lumber yards. They were taught as many aspects of the businesses as they were willing to learn. Several went and served missions for the LDS Church. One son graduated from University of Michigan Law School
University of Michigan Law School
The University of Michigan Law School is the law school of the University of Michigan, in Ann Arbor. Founded in 1859, the school has an enrollment of about 1,200 students, most of whom are seeking Juris Doctor or Master of Laws degrees, although the school also offers a Doctor of Juridical...
, another from Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, others from Brigham Young College
Brigham Young College
Brigham Young College was a college and high school in Logan, Utah. It was founded by Brigham Young on 6 August 1877, 23 days before he died. He deeded several acres of land to a board of trustees for the development of a college. This was just two years after he founded Brigham Young Academy in...
, Utah State University
Utah State University
Utah State University is a public university located in Logan, Utah. It is a land-grant and space-grant institution and is accredited by the Northwest Commission on Colleges and Universities....
, and the University of Utah
University of Utah
The University of Utah, also known as the U or the U of U, is a public, coeducational research university in Salt Lake City, Utah, United States. The university was established in 1850 as the University of Deseret by the General Assembly of the provisional State of Deseret, making it Utah's oldest...
.
With the estimated 4-7 million dollars he made, mostly from his Oregon enterprises, he invested heavily in Utah. He purchased stock in banks, canneries, insurance companies, railroads, factories, mills, mines, and various other companies. The Utah Construction Company
Utah Construction Company
The Utah Construction Company was a construction company founded by Edmund Orson Wattis, Jr, Warren L. Wattis and William. H. Wattis in 1900.-History:...
built over 700 miles (1,126.5 km) of track for the Western Pacific Railroad
Western Pacific Railroad
The Western Pacific Railroad was a Class I railroad in the United States. It was formed in 1903 as an attempt to break the near-monopoly the Southern Pacific Railroad had on rail service into northern California...
and led the Six Companies
Six Companies
Six Companies, Inc. was a joint venture of construction companies that was formed to build the Hoover Dam across the Colorado River in Nevada and Arizona....
in constructing the Hoover Dam
Hoover Dam
Hoover Dam, once known as Boulder Dam, is a concrete arch-gravity dam in the Black Canyon of the Colorado River, on the border between the US states of Arizona and Nevada. It was constructed between 1931 and 1936 during the Great Depression and was dedicated on September 30, 1935, by President...
. David Eccles served as the second president of Utah Construction Company
Utah Construction Company
The Utah Construction Company was a construction company founded by Edmund Orson Wattis, Jr, Warren L. Wattis and William. H. Wattis in 1900.-History:...
after the death of long-term associate Thomas Dee
Thomas Duncombe Dee
Thomas Duncombe Dee was a Utah businessman.Dee was born in Llanelli, Carmarthenshire, Wales. His parents converted to the Mormon faith in 1856, and the family relocated to Ogden, Utah in 1860....
. He also served as founder of a number of companies, one of which was the Amalgamated Sugar Company
Amalgamated Sugar Company
The Amalgamated Sugar Company is a sugar beet refining company run on a cooperative basis. It was founded in 1897 in Logan, Utah, and is now located in Nampa, Idaho, United States. The company markets its sugar under the White Satin brand.-Founding:...
.
Eccles served on the Ogden City Council and as their mayor from 1888-1890. He was known for his aid to the LDS Church for lending large amounts of money to the church at no interest. At the time of his death, he was the president of 16 industrial corporations and 7 banks. He also was serving as a director in 24 other banks and industries. He is Utah's first multimillionaire.
He died of a heart attack in Salt Lake City, Utah
Salt Lake City, Utah
Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. With a population of 186,440 as of the 2010 Census, the city lies in the Salt Lake City metropolitan area, which has a total population of 1,124,197...
on December 6, 1912 at the age of 63.
There are a host of businesses named after Eccles and his descendants. The David Eccles School of Business
David Eccles School of Business
The David Eccles School of Business is located on the University of Utah campus in Salt Lake City, Utah. The school was first established in 1896.- History :...
is at the University of Utah
University of Utah
The University of Utah, also known as the U or the U of U, is a public, coeducational research university in Salt Lake City, Utah, United States. The university was established in 1850 as the University of Deseret by the General Assembly of the provisional State of Deseret, making it Utah's oldest...
. The David Eccles Conference Center is in downtown Ogden, Utah.
Descendants
- Marriner Stoddard Eccles - son of David Eccles, was a U.S. banker, economistEconomistAn economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
, and Chairman of the Federal ReserveChairman of the Federal ReserveThe Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or "Fed Chief"...
. The Eccles BuildingEccles BuildingThe Marriner S. Eccles Federal Reserve Board Building houses the main offices of the Board of Governors of the Federal Reserve System. It is located at 20th Street and Constitution Avenue, N.W., in Washington, D.C. The building, designed in the stripped-down classical style, was designed by Paul...
that houses the headquarters of the Federal Reserve in Washington, D.C.Washington, D.C.Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
is named after him. - George S. Eccles - son of David Eccles, founder and CEO of the First Security CorporationFirst Security CorporationFirst Security Corporation was a multistate bank holding company in the western United States, primarily in Utah, Idaho, New Mexico, Oregon, Nevada, and Wyoming...
and founder of the George S. and Dolores Dore Eccles FoundationGeorge S. and Dolores Dore Eccles FoundationThe George S. and Dolores Dore Eccles Foundation is a non-profit foundation located in Salt Lake City, Utah that gives grants for projects and programs throughout Utah in the following areas: arts and culture, community, education, health care, and preservation and conservation.-History:The... - Spencer EcclesSpencer EcclesSpencer Fox Eccles is a prominent financier and philanthropist in Salt Lake City, Utah and chairman emeritus of the Intermountain Region of Wells Fargo Corporation...
- grandson of David Eccles, a prominent financierFinancierFinancier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
and philanthropistPhilanthropistA philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
in Salt Lake City, Utah and chairman emeritusEmeritusEmeritus is a post-positive adjective that is used to designate a retired professor, bishop, or other professional or as a title. The female equivalent emerita is also sometimes used.-History:...
of the Intermountain Region of Wells FargoWells FargoWells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
Corporation.