George Newell Armsby
Encyclopedia
George Newell Armsby (10 August 1876 in Evanston, Illinois
– 24 March 1942 in New York City, New York) was an American entrepreneur, most noted for his drive toward corporate mergers in the first half of the 20th century: first the merger of California food companies that resulted in California Packing Corporation, which sold under the Del Monte
and Sunkist
labels; later the merger of Bancamerica and Blair & Co. which resulted in Bancamerica-Blair.
Armsby was on the board of numerous corporations, including Curtiss-Wright
(where he served as Chairman), Universal Pictures
, Bancamerica-Blair, and many others. He was associated throughout his business life with John Cheever Cowdin
, with whom he ran Bancamerica-Blair and Universal Pictures; they were also both involved in the formation of Transcontinental Air Transport, Inc., which was later a foundation of TWA
.
, her persuaded his two lenders on the CalPack deal to merge and he went to work for the new concern, Blair & Co., Inc. In time, the new enterprise was bought by Transamerica
, and Armsby found himself working under his friend and fellow fruit-grower Amadeo Giannini. In time, this link would prove crucial to Armsby's next venture.
, for a time the world's tallest building and now The Trump Building, Armsby and Cowdin persuaded Gianni's Bancamerica operation to merge with Blair, which created - in 1931, in the depths of the Great Depression - a major force on Wall Street.
. Notably, Leonora retained the Armsby name until her death in 1962.
Armsby's personal life made the papers next year when, in March 1930, he announced that he was marrying, at age 54, a 36-year old woman, Colette Touzeau, whom the N.Y. Times and other papers tartly (if apparently accurately) called an ex show-girl. They did marry that month, in Los Angeles, and remained together until Armsby's death twelve years later.
His death in 1942 was sudden, and the newspaper coverage paid tribute to his vast network of business activity and connections.
"Armsby Weds Wednesday" - N.Y. Times, Mar 23, 1930, page N7
"Transamerica Unscrambled" - Time Magazine, Oct. 05, 1931
"Peaches, Prunes & Bonds" - Time Magazine, Mar. 28, 1932
Obituary, N.Y. Times, Sept. 26, 1942
Obituary, N.Y. Times, Sept. 27, 1942
"Peaches, Prunes & Bonds" - http://www.time.com/time/magazine/article/0,9171,929871-1,00.html
Evanston, Illinois
Evanston is a suburban municipality in Cook County, Illinois 12 miles north of downtown Chicago, bordering Chicago to the south, Skokie to the west, and Wilmette to the north, with an estimated population of 74,360 as of 2003. It is one of the North Shore communities that adjoin Lake Michigan...
– 24 March 1942 in New York City, New York) was an American entrepreneur, most noted for his drive toward corporate mergers in the first half of the 20th century: first the merger of California food companies that resulted in California Packing Corporation, which sold under the Del Monte
Del Monte Foods
Del Monte Foods is an American food production and distribution company headquartered in San Francisco, California. Del Monte Foods is one of the country's largest producers, distributors and marketers of branded food and pet products for the U.S. retail market, generating approximately $3.6...
and Sunkist
Sunkist Growers, Incorporated
Sunkist Growers, Incorporated is a citrus grower's non-stock membership cooperative composed of 6,000 members from California and Arizona. It is headquartered in the Sherman Oaks district of Los Angeles.-History:...
labels; later the merger of Bancamerica and Blair & Co. which resulted in Bancamerica-Blair.
Armsby was on the board of numerous corporations, including Curtiss-Wright
Curtiss-Wright
The Curtiss-Wright Corporation was the largest aircraft manufacturer in the United States at the end of World War II, but has evolved to largely become a component manufacturer, specializing in actuators, aircraft controls, valves, and metalworking....
(where he served as Chairman), Universal Pictures
Universal Pictures
-1920:* White Youth* The Flaming Disc* Am I Dreaming?* The Dragon's Net* The Adorable Savage* Putting It Over* The Line Runners-1921:* The Fire Eater* A Battle of Wits* Dream Girl* The Millionaire...
, Bancamerica-Blair, and many others. He was associated throughout his business life with John Cheever Cowdin
John Cheever Cowdin
John Cheever Cowdin was an American financier and polo champion who was a head at Standard Capital Corporation of New York City and Chairman of Ideal Chemicals.-Biography:He was born in 1889 to John Elliott Cowdin....
, with whom he ran Bancamerica-Blair and Universal Pictures; they were also both involved in the formation of Transcontinental Air Transport, Inc., which was later a foundation of TWA
Twa
The Twa are any of several hunting peoples of Africa who live interdependently with agricultural Bantu populations, and generally hold a socially subordinate position: They provide the farming population with game in exchange for agricultural products....
.
Early life
Armsby was the son of food-packing entrepreneur James Kendall Armsby. He went to work for his father's concern, J.K. Armsby Co., and on 28 December 1898 he married Leonora Chestnut Wood, daughter of Colorado mining entrepreneur Tingley Sylvanus Wood.California Packing Corporation
In the mid-1910s he conceived a plan to unite California's food-packing companies under a single association, and he went to New York to secure the $16,000,000 in financing necessary to do it. Blair & Co. and William Salomon & Co. lent him the funds, and California Packing Corporation was founded.Blair-Salomon
After serving on the Priorities Commission of the War Industries BoardWar Industries Board
The War Industries Board was a United States government agency established on July 28, 1917, during World War I, to coordinate the purchase of war supplies. The organization encouraged companies to use mass-production techniques to increase efficiency and urged them to eliminate waste by...
, her persuaded his two lenders on the CalPack deal to merge and he went to work for the new concern, Blair & Co., Inc. In time, the new enterprise was bought by Transamerica
Transamerica Corporation
Transamerica Corporation is a holding company for various life insurance companies and investment firms doing business primarily in the United States. It was acquired by the Dutch financial services conglomerate AEGON in 1999.-History:...
, and Armsby found himself working under his friend and fellow fruit-grower Amadeo Giannini. In time, this link would prove crucial to Armsby's next venture.
Bancamerica-Blair
After playing a role in the construction of 40 Wall Street40 Wall Street
40 Wall Street is a 70-story skyscraper in New York City. Originally known as the Bank of Manhattan Trust building, and also known as Manhattan Company Building, it was later known by its street address when its founding tenant merged to form the Chase Manhattan Bank and today is known as the...
, for a time the world's tallest building and now The Trump Building, Armsby and Cowdin persuaded Gianni's Bancamerica operation to merge with Blair, which created - in 1931, in the depths of the Great Depression - a major force on Wall Street.
Personal life
As his business ventures soared, Armsby's personal life was no less colorful. His marriage to Leonora disintegrated, and in March 1929 she sued for and was granted a divorce in the San Francisco courts, alleging (as was common at the time with unhappy spouses) that Armsby had abandoned her in New York in 1924. The subsequent divorce settlement of $1,000,000 made the papers as far away as Helena, MontanaHelena, Montana
Helena is the capital city of the U.S. state of Montana and the county seat of Lewis and Clark County. The 2010 census put the population at 28,180. The local daily newspaper is the Independent Record. The Helena Brewers minor league baseball and Helena Bighorns minor league hockey team call the...
. Notably, Leonora retained the Armsby name until her death in 1962.
Armsby's personal life made the papers next year when, in March 1930, he announced that he was marrying, at age 54, a 36-year old woman, Colette Touzeau, whom the N.Y. Times and other papers tartly (if apparently accurately) called an ex show-girl. They did marry that month, in Los Angeles, and remained together until Armsby's death twelve years later.
Later years
Armsby's business life showed no sign of slowdown as he went into the 1940s. He remained involved with Curtiss-Wright and Universal Pictures, in fact was a defendant in an anti-trust case against the movie industry in the late 1930s.His death in 1942 was sudden, and the newspaper coverage paid tribute to his vast network of business activity and connections.
Print References (small selection)
"Matron of Society Sheds Her Hubby" - Helena Independent, Mar 3, 1929."Armsby Weds Wednesday" - N.Y. Times, Mar 23, 1930, page N7
"Transamerica Unscrambled" - Time Magazine, Oct. 05, 1931
"Peaches, Prunes & Bonds" - Time Magazine, Mar. 28, 1932
Obituary, N.Y. Times, Sept. 26, 1942
Obituary, N.Y. Times, Sept. 27, 1942
Web References (small selection)
"Transamerica Unscrambled" - http://www.time.com/time/printout/0,8816,753056,00.html"Peaches, Prunes & Bonds" - http://www.time.com/time/magazine/article/0,9171,929871-1,00.html