William S. Ladd
Encyclopedia
William Sargent Ladd was an American
politician and businessman in Oregon
. He twice served as Portland, Oregon
’s mayor in the 1850s. A native of Vermont
, he was a prominent figure in the early development of Portland, and co-founded the first bank in the state in 1859. Ladd also built the first brick building in Portland and was a noted philanthropist. Part of his former estate, the Ladd Carriage House
, is on the National Register of Historic Places
.
. Nathaniel was of English heritage and received his education at Dartmouth College
, becoming a physician, while Abigail was from New Hampshire
. When William was seven years old, the family moved to Sanborton Bridge, New Hampshire
where he was educated in the local public schools and an academy. During the summers, he worked and at age 15 his father got him a job on a farm. William later worked on the family’s 58 acres (234,717.9 m²) farm before at age 19 beginning to work as a teacher in area schools.
His father had earned his way through school, but was successful enough to pay for William to attend college. However, William decided to pay for his own way in life and did not attend college. He then began working for the Boston, Concord & Montreal Railroad at a freight house in Sanborton Bridge. Ladd received several promotions and was briefly in charge of the company’s freight department before being returned to Sanborton Bridge. Disillusioned with the demotion, and spurred by reports from Samuel R. Thurston and a local shopkeeper who had returned with a large fortune, he decided to move west to work with Charles E. Tilton, a former classmate, who was involved in a mercantile business in San Francisco.
Ladd left from New York City
on February 27, 1851 and sailed to San Francisco, traveling over the Isthmus of Panama
. Upon arriving in San Francisco and finding the San Francisco market was overstocked, he attempted to get Tilton to become partners in a venture to import goods to what was then the Oregon Territory
. Tilton refused due to the risk involved, so Ladd traveled north to Oregon on his own.
on April 8, 1851, traveling on Pacific Mail Steamship Company
's Columbia steamer. He came with a small load of wine and liquor on consignment from Tilton, which he sold off at a small store, making $2000 in the first four months. Immediately upon arriving, Ladd went into a bar owned by Colburn Barrell, who gave Ladd a free drink and a new pair of shoes, since his only shoes were in poor condition. Barrell recalled liking Ladd immediately, and immediately became one of Ladd's best customers.
The day after arriving in Portland, Ladd rented a small store at 42 Front Street and sent an order to Tilton for more liquor. At that time, Portland contained 6-8 saloons and retail liquor stores, with approximately 30 retail stores. One saloon had just received its first billiard table
. Ladd only grossed $41.40 in the last two weeks of April and was unable to pay the $6 property tax, instead exchanging several nights and mornings to remove two stumps from the street in lieu of payment. Early May proved better for Ladd, selling a large amount of gin
to Barrell, adding the local Skidmore's California House hotel and Ainsworth's Lot Whitcomb steamer as customers. Ladd began to branch out, adding eggs, chickens, and other local goods to his liquor store. He then earned $250 by selling goods from W. D. Gookin on consignment, adding shaving soap, tobacco, paper, farm tools, blasting powder to his store. In August 1851, Ladd's gross sales were $1000.
In association with Goodkin he continued in the mercantile business for several years, and in 1852 entered a silent partnership with Tilton. Ladd would then open W. S. Ladd & Company in Portland, and was soon joined by his brother John Wesley Ladd. William S. Ladd handled the wholesale trade, and 'Sim', Simeon Reed was "the best dressed bartender in early day Portland."
Ladd then erected the first brick building in the city in 1853, at 163 Front Street. In 1854, William sent for his bride to be, Caroline Ames Elliott, who he had fallen in love with back in New Hampshire. She arrived in San Francisco where Ladd met her, and they were married there on October 17, 1854. The couple then arrived in Portland on November 6. He and Caroline would have seven children. William M., Helen Kendall, Charles Elliott, John Wesley, and Caroline Ames were five of the seven children.
In 1855, Ladd bought out Tilton, with Tilton returning east. Ladd then made his brother a partner in his firm. In 1858, Tilton returned and after a slight delay re-joined Ladd. They opened the first bank in Oregon
in April 1859: Ladd & Tilton Bank. Tilton would retire and leave the partnership in 1880. The company later become Ladd, Reed & Co.. when Simeon Gannett Reed
joined the business. Reed’s wife Amanda had accompanied the future Mrs. Ladd. William and Simeon would also partner in a variety of ventures, including a hobby farm where Reedville, Oregon
now stands. In 1862, the Oregon Steam Navigation Company
was formed with Ladd as the second biggest investor, and Reed investing as well.
Over the years Ladd would be a major player in the early economic development of Portland. Investments or promotions included the Oregon Furniture Manufacturing Company in 1874, the Portland Flouring Mills Company in 1883, the Portland Cordage Company in 1888, and the Portland Hotel
in 1887. Other enterprises included the Oregon Telegraph Company in 1862, Oregon Iron Company
in 1864, the Oregon Central Railroad Company in 1866, and in 1868 the Idaho Telegraph Company. In 1867, Ladd along with Asahel Bush
founded the Ladd and Bush Bank in Salem, Oregon
. Ten years later Bush would buy out Ladd and become the sole proprietor of the financial institution. MacColl states that Ladd was equally generous and miserly, a conservative investor, and an adventurous and speculative trader. Specifically, "he created his vast real estate holdings out of forfeited mortgages and defaulted loans."
Ladd was also involved with agriculture. He owned farm land in Multnomah County
and neighboring Washington
and Clark
counties. He imported cattle, thoroughbred horses, hogs, and sheep for his Broad Mead farm. Ladd served as the president of the board of regents at the state’s agricultural college in Corvallis
, now known as Oregon State University
.
in Portland. In between he was the fifth mayor of the city, serving from March 15, 1854 to April 1, 1855. After serving the one-year term, he was out of office for two years before returning in 1857 for a second one-year term. In 1886, he was a member of the city’s water commission. Originally a Democrat
, he became a Republican
in 1864 when he supported Abraham Lincoln
’s re-election.
) and a scholarship at Willamette University
in Salem
. He endowed a chair at the Presbyterian’s seminary in San Francisco in 1886. In Portland, he helped to establish River View Cemetery
. In 1891, Ladd platted what became Ladd's Addition
in what is now Southeast Portland. The addition has a criss-crossed street layout, and had parks, utilities and is annexed into Portland that year along with the rest of East Portland.
William S. Ladd died in Portland on January 6, 1893 at the age of 66. He was buried at River View Cemetery. His estate was valued at $10 million, including 4000 acres (16.2 km²) in Tacoma and Portland. The estate value was underestimated due to the Panic of 1893
.
Ladd Acres Elementary in Reedville, Oregon
(part of the Hillsboro School District
) was built on the former land of Ladd and Reed’s farm in Washington County, with the school named in Ladd’s honor.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
politician and businessman in Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
. He twice served as Portland, Oregon
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
’s mayor in the 1850s. A native of Vermont
Vermont
Vermont is a state in the New England region of the northeastern United States of America. The state ranks 43rd in land area, , and 45th in total area. Its population according to the 2010 census, 630,337, is the second smallest in the country, larger only than Wyoming. It is the only New England...
, he was a prominent figure in the early development of Portland, and co-founded the first bank in the state in 1859. Ladd also built the first brick building in Portland and was a noted philanthropist. Part of his former estate, the Ladd Carriage House
Ladd Carriage House
The Ladd Carriage House is a building in downtown Portland, Oregon. It is one of the few surviving pieces of the former grand estates which once existed in the downtown core. It was on the National Register of Historic Places from 1980 until 2008. It was restored to the listing in 2010.The building...
, is on the National Register of Historic Places
National Register of Historic Places
The National Register of Historic Places is the United States government's official list of districts, sites, buildings, structures, and objects deemed worthy of preservation...
.
Early life
William Ladd was born to Nathaniel Gould Ladd and Abigail Kelley Mead on October 10, 1826 in Holland, VermontHolland, Vermont
Holland is a town in Orleans County, Vermont, United States. The population was 588 at the 2000 census.-Town:* Selectman - Brett Farrow, Ron Patenaude* Town Clerk - Diane Judd* Treasurer - Diane Judd* Delinquent Tax Collector - Diane Judd...
. Nathaniel was of English heritage and received his education at Dartmouth College
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
, becoming a physician, while Abigail was from New Hampshire
New Hampshire
New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...
. When William was seven years old, the family moved to Sanborton Bridge, New Hampshire
Tilton, New Hampshire
Tilton is a town located on the Winnipesaukee River in Belknap County, New Hampshire, United States. The population was 3,567 at the 2010 census. It includes the village of Lochmere. Tilton is home to the Tilton School, a private preparatory school.-History:...
where he was educated in the local public schools and an academy. During the summers, he worked and at age 15 his father got him a job on a farm. William later worked on the family’s 58 acres (234,717.9 m²) farm before at age 19 beginning to work as a teacher in area schools.
His father had earned his way through school, but was successful enough to pay for William to attend college. However, William decided to pay for his own way in life and did not attend college. He then began working for the Boston, Concord & Montreal Railroad at a freight house in Sanborton Bridge. Ladd received several promotions and was briefly in charge of the company’s freight department before being returned to Sanborton Bridge. Disillusioned with the demotion, and spurred by reports from Samuel R. Thurston and a local shopkeeper who had returned with a large fortune, he decided to move west to work with Charles E. Tilton, a former classmate, who was involved in a mercantile business in San Francisco.
Ladd left from New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
on February 27, 1851 and sailed to San Francisco, traveling over the Isthmus of Panama
Isthmus of Panama
The Isthmus of Panama, also historically known as the Isthmus of Darien, is the narrow strip of land that lies between the Caribbean Sea and the Pacific Ocean, linking North and South America. It contains the country of Panama and the Panama Canal...
. Upon arriving in San Francisco and finding the San Francisco market was overstocked, he attempted to get Tilton to become partners in a venture to import goods to what was then the Oregon Territory
Oregon Territory
The Territory of Oregon was an organized incorporated territory of the United States that existed from August 14, 1848, until February 14, 1859, when the southwestern portion of the territory was admitted to the Union as the State of Oregon. Originally claimed by several countries , the region was...
. Tilton refused due to the risk involved, so Ladd traveled north to Oregon on his own.
Oregon
Ladd arrived in Portland, OregonPortland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
on April 8, 1851, traveling on Pacific Mail Steamship Company
Pacific Mail Steamship Company
The Pacific Mail Steamship Company was founded April 18, 1848 as a joint stock company under the laws of the State of New York by a group of New York City merchants, William H. Aspinwall, Edwin Bartlett, Henry Chauncey, Mr. Alsop, G.G. Howland and S.S. Howland...
's Columbia steamer. He came with a small load of wine and liquor on consignment from Tilton, which he sold off at a small store, making $2000 in the first four months. Immediately upon arriving, Ladd went into a bar owned by Colburn Barrell, who gave Ladd a free drink and a new pair of shoes, since his only shoes were in poor condition. Barrell recalled liking Ladd immediately, and immediately became one of Ladd's best customers.
The day after arriving in Portland, Ladd rented a small store at 42 Front Street and sent an order to Tilton for more liquor. At that time, Portland contained 6-8 saloons and retail liquor stores, with approximately 30 retail stores. One saloon had just received its first billiard table
Billiards
Cue sports , also known as billiard sports, are a wide variety of games of skill generally played with a cue stick which is used to strike billiard balls, moving them around a cloth-covered billiards table bounded by rubber .Historically, the umbrella term was billiards...
. Ladd only grossed $41.40 in the last two weeks of April and was unable to pay the $6 property tax, instead exchanging several nights and mornings to remove two stumps from the street in lieu of payment. Early May proved better for Ladd, selling a large amount of gin
Gin
Gin is a spirit which derives its predominant flavour from juniper berries . Although several different styles of gin have existed since its origins, it is broadly differentiated into two basic legal categories...
to Barrell, adding the local Skidmore's California House hotel and Ainsworth's Lot Whitcomb steamer as customers. Ladd began to branch out, adding eggs, chickens, and other local goods to his liquor store. He then earned $250 by selling goods from W. D. Gookin on consignment, adding shaving soap, tobacco, paper, farm tools, blasting powder to his store. In August 1851, Ladd's gross sales were $1000.
In association with Goodkin he continued in the mercantile business for several years, and in 1852 entered a silent partnership with Tilton. Ladd would then open W. S. Ladd & Company in Portland, and was soon joined by his brother John Wesley Ladd. William S. Ladd handled the wholesale trade, and 'Sim', Simeon Reed was "the best dressed bartender in early day Portland."
Ladd then erected the first brick building in the city in 1853, at 163 Front Street. In 1854, William sent for his bride to be, Caroline Ames Elliott, who he had fallen in love with back in New Hampshire. She arrived in San Francisco where Ladd met her, and they were married there on October 17, 1854. The couple then arrived in Portland on November 6. He and Caroline would have seven children. William M., Helen Kendall, Charles Elliott, John Wesley, and Caroline Ames were five of the seven children.
In 1855, Ladd bought out Tilton, with Tilton returning east. Ladd then made his brother a partner in his firm. In 1858, Tilton returned and after a slight delay re-joined Ladd. They opened the first bank in Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
in April 1859: Ladd & Tilton Bank. Tilton would retire and leave the partnership in 1880. The company later become Ladd, Reed & Co.. when Simeon Gannett Reed
Simeon Gannett Reed
Simeon Gannett Reed was an American businessman and entrepreneur in Oregon. A native of Massachusetts, he made a fortune primarily in the transportation sector in association with William S. Ladd...
joined the business. Reed’s wife Amanda had accompanied the future Mrs. Ladd. William and Simeon would also partner in a variety of ventures, including a hobby farm where Reedville, Oregon
Reedville, Oregon
Reedville is an unincorporated community in Washington County, Oregon, United States between Hillsboro and Aloha. Oregon Route 8 runs through the area. Cornelius Pass Road is another main arterial...
now stands. In 1862, the Oregon Steam Navigation Company
Oregon Steam Navigation Company
The Oregon Steam Navigation Company was an American company incorporated in 1860 in Washington with partners J. S. Ruckle, Henry Olmstead, and J. O. Van Bergen...
was formed with Ladd as the second biggest investor, and Reed investing as well.
Over the years Ladd would be a major player in the early economic development of Portland. Investments or promotions included the Oregon Furniture Manufacturing Company in 1874, the Portland Flouring Mills Company in 1883, the Portland Cordage Company in 1888, and the Portland Hotel
Portland Hotel
The Portland Hotel was a late-19th-century hotel in Portland, Oregon, United States that once occupied the city block on which Pioneer Courthouse Square now stands. It closed in 1951 after 61 years of operation.-History:...
in 1887. Other enterprises included the Oregon Telegraph Company in 1862, Oregon Iron Company
Oregon Iron Company
The Oregon Iron Company was an iron smelting company located in what is now Lake Oswego, Oregon. The company was established in 1865, and in 1867, became the first company in the United States to smelt iron west of the Rocky Mountains...
in 1864, the Oregon Central Railroad Company in 1866, and in 1868 the Idaho Telegraph Company. In 1867, Ladd along with Asahel Bush
Asahel Bush
Asahel Bush was an American newspaper publisher and businessman in Salem, Oregon. As publisher the Oregon Statesman newspaper, he moved the paper to Salem when the territorial capital moved to that city...
founded the Ladd and Bush Bank in Salem, Oregon
Salem, Oregon
Salem is the capital of the U.S. state of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north through the city. The river forms the boundary between Marion and Polk counties, and the city neighborhood...
. Ten years later Bush would buy out Ladd and become the sole proprietor of the financial institution. MacColl states that Ladd was equally generous and miserly, a conservative investor, and an adventurous and speculative trader. Specifically, "he created his vast real estate holdings out of forfeited mortgages and defaulted loans."
Ladd was also involved with agriculture. He owned farm land in Multnomah County
Multnomah County, Oregon
Multnomah County is one of 36 counties in the U.S. state of Oregon. Though smallest in area, it is the most populous as its county seat, Portland, is the state's largest city...
and neighboring Washington
Washington County, Oregon
- Major highways :* Interstate 5* Interstate 205* U.S. Route 26* Oregon Route 6* Oregon Route 8* Oregon Route 10* Oregon Route 47* Oregon Route 99W* Oregon Route 210* Oregon Route 217* Oregon Route 219-Demographics:...
and Clark
Clark County, Washington
Clark County is a county located in the southwestern part of the U.S. state of Washington, across the Columbia River from Portland, Oregon.Clark County was the first county of Washington, named after William Clark of the Lewis and Clark Expedition...
counties. He imported cattle, thoroughbred horses, hogs, and sheep for his Broad Mead farm. Ladd served as the president of the board of regents at the state’s agricultural college in Corvallis
Corvallis, Oregon
Corvallis is a city located in central western Oregon, United States. It is the county seat of Benton County and the principal city of the Corvallis, Oregon Metropolitan Statistical Area, which encompasses all of Benton County. As of the 2010 United States Census, the population was 54,462....
, now known as Oregon State University
Oregon State University
Oregon State University is a coeducational, public research university located in Corvallis, Oregon, United States. The university offers undergraduate, graduate and doctoral degrees and a multitude of research opportunities. There are more than 200 academic degree programs offered through the...
.
Politics
In 1853 and again in 1856, Ladd served on the city councilGovernment of Portland, Oregon
The Government of Portland, Oregon, a city in the U.S. state of Oregon, is based on a city commission government system. Elected officials include a Mayor, a City Council, and a City Auditor. The mayor and commissioners are responsible legislative policy and oversee the various bureaus that...
in Portland. In between he was the fifth mayor of the city, serving from March 15, 1854 to April 1, 1855. After serving the one-year term, he was out of office for two years before returning in 1857 for a second one-year term. In 1886, he was a member of the city’s water commission. Originally a Democrat
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
, he became a Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
in 1864 when he supported Abraham Lincoln
Abraham Lincoln
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He successfully led his country through a great constitutional, military and moral crisis – the American Civil War – preserving the Union, while ending slavery, and...
’s re-election.
Later life and philanthropy
Ladd was one of the first people to contribute funds toward the creation of the Portland Library fund. He also endowed a chair at the state’s medical school in Portland (later Oregon Health & Science UniversityOregon Health & Science University
Oregon Health & Science University is a public university in Oregon with a main campus, including two hospitals, in Portland and a smaller campus in Hillsboro...
) and a scholarship at Willamette University
Willamette University
Willamette University is an American private institution of higher learning located in Salem, Oregon. Founded in 1842, it is the oldest university in the Western United States. Willamette is a member of the Annapolis Group of colleges, and is made up of an undergraduate College of Liberal Arts and...
in Salem
Salem, Oregon
Salem is the capital of the U.S. state of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north through the city. The river forms the boundary between Marion and Polk counties, and the city neighborhood...
. He endowed a chair at the Presbyterian’s seminary in San Francisco in 1886. In Portland, he helped to establish River View Cemetery
River View Cemetery (Portland, Oregon)
River View Cemetery in the southwest section of Portland, Oregon, United States, is a non-profit cemetery founded in 1882. It is the final resting place of many prominent and notable citizens of Oregon, including many governors and United States Senators...
. In 1891, Ladd platted what became Ladd's Addition
Ladd's Addition, Portland, Oregon
Ladd's Addition is one of the oldest residential districts in Portland, Oregon, United States. It is located in the Hosford-Abernethy neighborhood in the southeast part of the city. Roughly eight blocks by ten blocks in size , Ladd's is bordered by SE Hawthorne, Division, 12th, and 20th streets...
in what is now Southeast Portland. The addition has a criss-crossed street layout, and had parks, utilities and is annexed into Portland that year along with the rest of East Portland.
William S. Ladd died in Portland on January 6, 1893 at the age of 66. He was buried at River View Cemetery. His estate was valued at $10 million, including 4000 acres (16.2 km²) in Tacoma and Portland. The estate value was underestimated due to the Panic of 1893
Panic of 1893
The Panic of 1893 was a serious economic depression in the United States that began in 1893. Similar to the Panic of 1873, this panic was marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures...
.
Ladd Acres Elementary in Reedville, Oregon
Reedville, Oregon
Reedville is an unincorporated community in Washington County, Oregon, United States between Hillsboro and Aloha. Oregon Route 8 runs through the area. Cornelius Pass Road is another main arterial...
(part of the Hillsboro School District
Hillsboro School District
The Hillsboro School District 1J is a unified school district located in Hillsboro, Oregon, United States. The district operates 26 elementary schools, four middle schools, and four high schools. Founded in 1851, the school district covers Hillsboro, Scholls, Reedville, North Plains, West Union,...
) was built on the former land of Ladd and Reed’s farm in Washington County, with the school named in Ladd’s honor.