Richard B. Mellon
Encyclopedia
Richard Beatty Mellon sometimes R.B., was a banker, industrialist, and philanthropist from Pittsburgh
, Pennsylvania
.
He and his brother, Andrew W. Mellon
, another son of Judge Thomas Mellon
, were frequent business partners. Richard served under Andrew at Mellon Bank, and assumed its presidency in 1921 when Andrew was appointed Treasury Secretary
. They also made several joint philanthropic gifts, notably several large donations to their alma mater, the University of Pittsburgh
, including the establishment there of the Mellon Institute of Industrial Research
in memory of their father, which is now a part of Carnegie Mellon University
.
R.B. served from 1899–1910 as president of the Pittsburgh Reduction Company, renamed the Aluminum Company of America (Alcoa
) in 1907, and was heavily invested in the Pittsburgh Coal Company, today part of CONSOL Energy
, where he clashed with John L. Lewis
and the United Mine Workers
. Later, he was instrumental in forming Mellbank Corporation, a bank holding company, which helped the affiliated banks weather the Great Depression
.
In 1918, R.B. Mellon organized the Citizens' Committee on City Plan, which sought to improve Pittsburgh through better urban planning and zoning. In honor of his civic efforts, the Air and Waste Management Association recognizes individuals who have made administrative, legislative, and judicial contributions to the field of pollution abatement with the Richard Beatty Mellon Award.
Mellon's philanthropic gifts were primarily church-oriented. In 1926 he established a $15 million pension
fund for Presbyterian
ministers. He and his wife Jennie Taylor King were the major donors to the Cathedral of Hope, the new home for the East Liberty Presbyterian Church, which they and their parents had attended. He died before the new building was completed, however, in December 1933. The $13.3 million in taxes paid on his estate enabled the state to meet its payroll.
In 1931, R.B. Mellon along with C.C. Macdonald assumed control of Idlewild Park
in Ligonier, Pennsylvania
. He was the founder of the Rolling Rock Club
.
His children Sarah Mellon
and her younger brother Richard King Mellon
were heirs to the Mellon fortune, alongside their cousins Paul Mellon
and Ailsa Mellon-Bruce
.
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
.
He and his brother, Andrew W. Mellon
Andrew W. Mellon
Andrew William Mellon was an American banker, industrialist, philanthropist, art collector and Secretary of the Treasury from March 4, 1921 until February 12, 1932.-Early life:...
, another son of Judge Thomas Mellon
Thomas Mellon
Thomas Alexander Mellon was a Scotch-Irish American, entrepreneur, lawyer, and judge, best known as the founder of Mellon Bank and patriarch of the Mellon family of Pittsburgh, Pennsylvania.-Early life:...
, were frequent business partners. Richard served under Andrew at Mellon Bank, and assumed its presidency in 1921 when Andrew was appointed Treasury Secretary
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
. They also made several joint philanthropic gifts, notably several large donations to their alma mater, the University of Pittsburgh
University of Pittsburgh
The University of Pittsburgh, commonly referred to as Pitt, is a state-related research university located in Pittsburgh, Pennsylvania, United States. Founded as Pittsburgh Academy in 1787 on what was then the American frontier, Pitt is one of the oldest continuously chartered institutions of...
, including the establishment there of the Mellon Institute of Industrial Research
Mellon Institute of Industrial Research
Mellon Institute of Industrial Research, founded in 1913 by Andrew W. Mellon and Richard B. Mellon, merged with the Carnegie Institute of Technology in 1967 to form Carnegie Mellon University in Pittsburgh, Pennsylvania, United States...
in memory of their father, which is now a part of Carnegie Mellon University
Carnegie Mellon University
Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....
.
R.B. served from 1899–1910 as president of the Pittsburgh Reduction Company, renamed the Aluminum Company of America (Alcoa
Alcoa
Alcoa Inc. is the world's third largest producer of aluminum, behind Rio Tinto Alcan and Rusal. From its operational headquarters in Pittsburgh, Pennsylvania, Alcoa conducts operations in 31 countries...
) in 1907, and was heavily invested in the Pittsburgh Coal Company, today part of CONSOL Energy
Consol Energy
Consol Energy is an energy company headquartered in the Pittsburgh, Pennsylvania, USA, suburb of Cecil Township, in the Southpointe complex. It is one of the US's largest coal mining companies, along with Peabody Energy and Arch Coal...
, where he clashed with John L. Lewis
John L. Lewis
John Llewellyn Lewis was an American leader of organized labor who served as president of the United Mine Workers of America from 1920 to 1960...
and the United Mine Workers
United Mine Workers
The United Mine Workers of America is a North American labor union best known for representing coal miners and coal technicians. Today, the Union also represents health care workers, truck drivers, manufacturing workers and public employees in the United States and Canada...
. Later, he was instrumental in forming Mellbank Corporation, a bank holding company, which helped the affiliated banks weather the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
.
In 1918, R.B. Mellon organized the Citizens' Committee on City Plan, which sought to improve Pittsburgh through better urban planning and zoning. In honor of his civic efforts, the Air and Waste Management Association recognizes individuals who have made administrative, legislative, and judicial contributions to the field of pollution abatement with the Richard Beatty Mellon Award.
Mellon's philanthropic gifts were primarily church-oriented. In 1926 he established a $15 million pension
Pension
In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.The terms retirement...
fund for Presbyterian
Presbyterianism
Presbyterianism refers to a number of Christian churches adhering to the Calvinist theological tradition within Protestantism, which are organized according to a characteristic Presbyterian polity. Presbyterian theology typically emphasizes the sovereignty of God, the authority of the Scriptures,...
ministers. He and his wife Jennie Taylor King were the major donors to the Cathedral of Hope, the new home for the East Liberty Presbyterian Church, which they and their parents had attended. He died before the new building was completed, however, in December 1933. The $13.3 million in taxes paid on his estate enabled the state to meet its payroll.
In 1931, R.B. Mellon along with C.C. Macdonald assumed control of Idlewild Park
Idlewild and Soak Zone
Idlewild and Soak Zone, commonly known as Idlewild Park or simply Idlewild, is a family amusement park situated in the Laurel Highlands near Ligonier, Pennsylvania, United States, about east of Pittsburgh, along US Route 30. Founded in 1878 as a campground along the Ligonier Valley Railroad by...
in Ligonier, Pennsylvania
Ligonier, Pennsylvania
Ligonier is a borough in Westmoreland County, Pennsylvania, United States. The population was 1,695 at the 2000 census. Ligonier was settled in the 1760s. The borough is well known for nearby Idlewild Park, one of the oldest amusement parks in the country, and nearby Seven Springs Mountain Resort...
. He was the founder of the Rolling Rock Club
Rolling Rock Club
Rolling Rock Club is a private country club located on along Route 30 about fifty miles outside of Pittsburgh, in Pennsylvania's Ligonier Valley.-History:...
.
His children Sarah Mellon
Sarah Mellon
Sarah Mellon was the niece of Andrew W. Mellon . She was one of the heirs to the Mellon fortune, including Mellon Bank and major investments in Gulf Oil and Alcoa...
and her younger brother Richard King Mellon
Richard King Mellon
Richard King Mellon , commonly known as R.K., was an American financier from Ligonier, Pennsylvania.-Biography:The son of Richard B. Mellon, nephew of Andrew W...
were heirs to the Mellon fortune, alongside their cousins Paul Mellon
Paul Mellon
Paul Mellon KBE was an American philanthropist, thoroughbred racehorse owner/breeder. He is one of only five people ever designated an "Exemplar of Racing" by the National Museum of Racing and Hall of Fame...
and Ailsa Mellon-Bruce
Ailsa Mellon-Bruce
Ailsa Mellon Bruce , born in Pittsburgh, was a prominent socialite and the daughter of the banker and diplomat Andrew W. Mellon. She served from 1921 to 1932 as her father's official hostess during his tenure as United States Secretary of the Treasury, and again when he was U.S...
.