Alonzo Barton Hepburn (July 24, 1846 – January 25, 1922) was an American politician from New York, famed for being the Chairman of the New York State Legislature's eponymous Hepburn Committee of 1879 that investigated the operations of what became known later as the Railroad Trust based in New York State. He was Comptroller of the Currency from 1892 to 1893.[1]
Early life
Hepburn was born on a farm in Colton, St. Lawrence County, New York on July 24, 1846. He was the youngest of four sons born to Zina Earl Hepburn (1798–1874) and Beulah (née Gray) Hepburn (1807–1900).[2] His maternal uncle was a founder of the Cleveland Plain-Dealer.[2]
He attended St. Lawrence Academy and the Fuller Academy at Oswego before attending Middlebury College where he graduated in 1871; later serving as a trustee.[3] In 1906 he was given an honorary degree by St. Lawrence University.[2]
Career
Hepburn from a 1913 publication.
In 1871, he returned to St. Lawrence Academy (today's St. Lawrence University) where he became a Professor of Mathematics before serving as Principal of Ogdensburg Educational Institute and was elected school commissioner, while studying law.[2]
Prior to the committee's investigation, few knew of the size of Standard Oil's control and influence on seemingly unaffiliated oil refineries and pipelines, with only a dozen or so within Standard Oil knew the extent of company operations.[5] The committee counsel, Simon Sterne, questioned representatives from the Erie Railroad and the New York Central Railroad and discovered that at least half of their long-haul traffic granted rebates, and that much of this traffic came from Standard Oil. The committee then shifted focus to Standard Oil's operations. John Dustin Archbold, as president of Acme Oil Company, denied that Acme was associated with Standard Oil. He then admitted to being a director of Standard Oil. The committee's final report scolded the railroads for their rebate policies and cited Standard Oil as an example. This scolding was largely moot to Standard Oil's interests since long-distance oil pipelines were now their preferred method of transportation.[5]
After leaving the office of Comptroller he worked in the field of banking, becoming the president of the Third National Bank of New York then the Vice-President of the National City Bank in 1897 when the Third National Bank merged with other banks to form that company. He then became the President of the Chase National Bank.[3]
A prolific writer on the economy and financial matters, he wrote the books History of Coinage and Currency in the United States: Perennial Contest for Sound Money (1903), A History of Currency in the United States" (1915), and "Artificial Waterways and Commercial Development. He also regularly contributed to magazines and periodicals.[3]
Personal life
In 1873, he married Harriet A. Fisher, of St. Albans, Vermont,[8] who died in 1881, leaving him with two sons:[9]
Cordelia Susan Hepburn (1894–1960),[15] who married Harvard graduate and stockbroker Paul Cushman (1891–1971)[16] in 1923.[17]
Hepburn died in New York City on January 25, 1922, as a result of injuries sustained in a motor bus accident on Fifth Avenue.[18] He left an estate of nearly $10 million. After his death, his wife was involved in the development of the Beekman Tower at the corner of First Avenue and East 49th Street.[12] Through his son Charles, he was a grandfather of actor Barton Hepburn.[19]
Hepburn Hall, a dormitory at Middlebury College whose construction was financed by a gift from Hepburn, is named for him. The building was initially painted bright yellow per Hepburn's request to brighten the appearance of the campus, but was repainted gray following his death to better match the rest of the campus' buildings. Hepburn Hall also contains the Hepburn Zoo, a former dining area turned black box theater, which is so-named because it was originally adorned with Hepburn's hunting trophies.[22]
^"Proceedings of the Special Committee on Railroads, Appointed under a resolution of the Assembly to investigate alleged abuses in the Management of Railroads chartered by the State of New York (Vol. I, 1879)". Internet Archive. New York State Legislature. 1879. Retrieved February 11, 2022. Resolved, That a special Committee of five [afterwards increased to nine] persons be appointed, with power to send for persons and papers, and to employ a stenographer, whose duty it shall be to investigate the abuses alleged to exist in the management of the railroads chartered by this State, and to inquire into and report concerning their powers, contracts and obligations; said Committee to take testimony in the city of New York, and such other places as they may deem necessary, and to report to the Legislature, either at the present or the next session, by bill or otherwise, what, if any, legislation is necessary to protect and extend the commercial and industrial interests of the State. Composed of Messrs. HEPBURN, HUSTED, DUGUID, LOW, GRADY, NOYES, WADSWORTH, TERRY and BAKER, met at the Capitol in the City of Albany on Wednesday March 26th, 1879, at 3 o'clock P. M., and was called to order by the Chairman.
^Erskine, Albert Russel (October 17, 2018). History of the Studebaker corporation. Chicago: Poole Bros. Retrieved October 17, 2018 – via Internet Archive.
In memoriam. A. Barton Hepburn In: "The Chase", monthly magazine, published by the Chase National Bank of the City of New York. Volume IV, No. 11, February 1922
