Edward Francis Hutton (September 7, 1875 [or 1877 or 1882] - July 11, 1962) was an American (born in New York, New York) financier and co-founder of E. F. Hutton & Company with Franklyn Laws Hutton and Gerald M. Loeb. Jump to: navigation, search September 7 is the 250th day of the year (251st in leap years). ... 1875 was a common year starting on Friday (see link for calendar). ... Jump to: navigation, search July 11 is the 192nd day (193rd in leap years) of the year in the Gregorian Calendar, with 173 days remaining. ... Jump to: navigation, search 1962 was a common year starting on Monday (link will take you to calendar). ... Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ...

His second wife was General Foods heiress Marjorie Merriweather Post, whom he married in 1920. During their marriage (which ended in divorce in 1935) they built several famous houses including Mar-A-Lago (now owned by Donald Trump and operated as the Mar-a-Lago Club) in Palm Beach, Florida, and the largest privately owned sea-going yacht of the era, the "Hussar V", which is best known as the Sea Cloud. Their only child, actress Dina Merrill, (born Nedenia Marjorie Hutton) for years served as the only female director on the board of the company her father founded in 1914. The Huttons divorced after evidence of E.F. Hutton's affairs with other women became public. Hutton also was the uncle of Woolworth heiress Barbara Hutton. General Foods, formerly shorthand for the General Foods Corporation, is now a brand of Kraft Foods. ... Marjorie Merriweather Post (March 15, 1887 â€“ September 12, 1973) (or Marjorie Merriweather Post Close Hutton Davies May) was a leading American socialite and the founder of General Foods, Inc. ... Jump to: navigation, search 1920 is a leap year starting on Thursday (link will take you to calendar) // Events WIKIPEDIA EATS VAGINA January 7 - Forces of Russian White admiral Kolchak surrender in Krasnoyarsk. ... Jump to: navigation, search 1935 was a common year starting on Tuesday (link will take you to calendar). ... Mar-A-Lago (mahr-ah-lahgo) is the name of the Marjorie Merriweather Post estate in Palm Beach, Florida. ... Palm Beach is a town located in Palm Beach County, Florida, 65 miles north of Miami. ... Nedenia Marjorie Hutton (born 9 December 1925) is a United States actress known as Dina Merrill. ... Jump to: navigation, search 1914 is a common year starting on Thursday. ... F.W. Woolworth Company the original USA based chain of high street shops. ... Barbara Hutton, born November 14, 1912 in New York City, United States – died May 11, 1979 in Los Angeles, California, was a wealthy American socialite dubbed by the media as the Poor Little Rich Girl because of her troubled life. ...

Corporate Interests

The brokerage house E. F. Hutton & Co. Inc. was the prinicipal component of what grew into a conglomerate of companies owned by E. F. Hutton Group Inc., listed on the New York Stock Exchange. Other subsidiaries of that Delaware-chartered holding company were E. F. Hutton Trust Company (now "Smith Barney Corporate Trust Company" and owned by Citigroup), E. F. Hutton Life Insurance Company, and E. F. Hutton Bank. The Hutton companies also managed many mutual funds and other investment vehicles, some of which were separately incorporated and/or registered, and participated actively in corporate mergers and public offerings of securities. The firm was best known for its commercials based on the phrase, "When E. F. Hutton talks, people listen." Jump to: navigation, search New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is the largest stock exchange in the world, although its trading volume was exceeded by that of NASDAQ (historic comparison graph {pdf}) during the 1990s. ... Jump to: navigation, search State nickname: The First State Other U.S. States Capital Dover Largest city Wilmington Governor Ruth Ann Minner (D) Senators Joe Biden (D) Thomas Carper (D) Official languages None Area 6,452 km² (49th)  - Land 5,068 km²  - Water 1,387 km² (21. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Jump to: navigation, search A mutual fund is a company that pools money from many investors and invests the money in stocks, bonds, short-term money-market instruments, or other securities. ... A security is a type of transferrable interest representing financial value. ...

The conglomerate disintegrated in the 1980s due to corporate misconduct, mostly by the brokerage firm. The firm had knowingly engaged in money laundering for organized crime (the so-called "Pizza Connection" because money was sometimes delivered in pizza boxes, see External link) and other unlawful groups (including the "Iran-Contra Affair"). It was not until after the president of the brokerage firm, Scott Pierce (the brother of Barbara Bush, wife of the then-vice-president of the U.S.), entered his corporation's guilty plea to 2000 criminal counts of federal mail and wire fraud in 1985, that the Hutton conglomerate fell apart. It was sold to and dismantled by what is now Citigroup, whose American Express subsidiary had engaged in joint ventures with the Hutton companies. Jump to: navigation, search // Events and trends The 1980s marked an abrupt shift towards more conservative lifestyles after the momentous cultural revolutions which took place in the 1960s and 1970s and the definition of the AIDS virus in 1981. ... Jump to: navigation, search A TIME Magazine cover of Oliver Norths testifying in front of the U.S. Congress. ... Scott Pierce is a brother of Barbara Bush. ... Jump to: navigation, search Barbara Pierce Bush (born June 8, 1925) is the wife of the 41st President of the United States, George H. W. Bush, and was First Lady of the United States from 1989 to 1993. ... This article needs to be cleaned up to conform to a higher standard of quality. ... American Express NYSE: AXP is a diversified global financial services company headquartered in the United States. ...

The criminal "check-kiting" involved fraud on Hutton's brokerage clients and the banks where it did business: When Hutton was supposed to send money to a brokerage customer from that customer's account, Hutton would draw a check on a bank account on the other side of the country from the customer and mail it; Hutton would not deposit the money to "cover" the check until days later, usually after it had already "cleared". Thus, Hutton was, in effect, getting short-term loans (termed "the float") from the banks for free and forcing the banks to make those loans by threatening not to keep its accounts with them if they did not. The value of the unpaid "interest" on those forced "loans" amounted to many millions of dollars and made a significant addition to Hutton's "bottom line".

Books about the E. F. Hutton companies :

• Burning Down the House: How Greed, Deceit, and Bitter Revenge Destroyed E. F. Hutton by James Sterngold (1990) {ISBN 0671709011}
• The Fall of the House of Hutton by Donna S. Carpenter and John Feloni (1989) {ISBN 0805009469}
• Sudden Death: The Rise and Fall of E. F. Hutton by Mark Stevens (1989) {ISBN 0453006736}

External Links

• West Palm West Historical Society, Mar-A-Lago

• The Sea Cloud

• Sea Cloud Statistics