John R. Macomber

For the American banker born in 1928, see John D. Macomber.
John R. Macomber
Born(1875-02-01)February 1, 1875
Framingham, Massachusetts, U.S.
DiedMay 11, 1955(1955-05-11) (aged 80)
Framingham, Massachusetts, U.S.
Alma materMassachusetts Institute of Technology
OccupationFinancier
Known forInvolvement in Thoroughbred racing; Raceland estate

John Russell Macomber (February 1, 1875 – May 11, 1955) was an American financier and sportsman.

Early life

Macomber was born on February 1, 1875, in Framingham, Massachusetts, to John F. and Helen A. Hunt Macomber.[1] He attended public schools in Framingham and the Chauncey Hill School in Boston.[2] In 1897, he graduated from the Massachusetts Institute of Technology.[3]

Business career

In 1894, Macomber joined the banking firm of N. W. Harris & Co as a messenger. In 1909, he became a partner, and he was named vice president in 1911. In 1916, the firm was succeeded by Harris, Forbes & Co. and Macomber was made president.[3] In 1930, he became chairman of the board of directors.[4] In 1931, the business was consolidated with Chase Securities to become Chase, Harris, Forbes Corporation.[5] In 1934, Chase, Harris, Forbes dissolved its banking affiliates and Macomber became chairman of the First Boston Corporation.[3] He retired from the board on December 31, 1947.[6]

Macomber also served as a director or trustee of a number of companies, including First National Bank of Boston, Harris Trust and Savings Bank, Bankers Trust, the International Paper Company, Chase National Bank, United Shoe Machinery Corporation, and Puget Sound Power and Light.[2][3] In 1927, Macomber was named chairman of the board of directors for the planned sports arena at North Station which became the Boston Garden. The board, which consisted of members of the Madison Square Garden Corporation, the Boston and Maine Corporation, and a number of Boston businessmen, also included Tex Rickard, Homer Loring, George Hannauer, Edward Lawrence Logan, Louis K. Liggett, Charles F. Adams, Huntington Hardwick, and Joseph Gilman.[7] In 1934, the Madison Square Garden Corporation sold its interest to the Boston Arena Corporation and Macomber served on the Board of the new Boston Garden-Arena Corporation.[8][9]

Public service

During World War I, Macomber served as chairman of the New England Liberty Loan committee and of Metropolitan Boston trade in the United War Work campaign.[10][11] From 1919 to 1920, Macomber served as President of the Boston Chamber of Commerce.[10][12] On September 3, 1920, Massachusetts State Treasurer Fred J. Burrell resigned following an investigation by a special legislative committee and Governor Calvin Coolidge appointed Macomber, Albert P. Langtry, and Henry A. Wyman to administer the office until a successor could be confirmed.[13] In 1922, Macomber was elected a life member of the board of trustees at Tufts College.[2] In 1926, he was named chairman of Massachusetts General Hospital's finance campaign committee.[14]

Horse racing

Thoroughbred racing

Macomber was a longtime supporter of Thoroughbred racing and breeding. One of his horses, Petee-Wrack, was a half-brother of Triple Crown winner Gallant Fox.[15] Petee-Wrack ran in the 1928 Kentucky Derby and Preakness Stakes and won the 1928 Travers Stakes, 1929 Twin City Handicap, and 1930 Suburban Handicap.[16][17][18][19][3] Petee-Wrack's offspring included Widener Challenge Cup winner Columbiana, Grand National winner Brother Jones, and Maryland Hunt Cup winners Peterski and Pine Rep.[1][3]

Macomber was the first president of the Eastern Horse Club, which conducted races at The Country Club and Raceland from 1926 to 1935.[3] After parimutuel betting was legalized in Massachusetts, Macomber, Charles Adams, Bayard Tuckerman Jr., and members of the Eastern Horse Club formed the Eastern Racing Association to open a thoroughbred race track in East Boston.[20][21] At Macomber's suggestion, the new track was named Suffolk Downs.[3] Beginning in 1956, the closing race of Suffolk Downs' spring meeting was called the John R. Macomber Memorial Handicap.[3]

Steeplechase

In 1928, Macomber's horse Bridge won the inaugural Master of Foxhounds Association Steeplechase for hunters in front of a crowd of 10,000 at Pimlico Race Course.[22] In 1929, his horse Coronel won The Country Club Grand National steeplechase race.[23]

Raceland

Main article: Raceland (estate)

Macomber was a lifelong resident of Framingham. He lived with his mother in the family home for 50 years. After her death, he developed Raceland, which served as his home as well as a venue for horse racing, dog shows, and automobile shows. Beginning in 1927, Macomber opened Raceland to the public free of charge for one day of the annual horse meet.[24] In 1930, the stable and clubhouse were destroyed by fire, but he replaced the buildings in time for the next year's meet.[25]

Death

Macomber died at his home in Framingham on May 11, 1955, at the age of 80.[3] His will provided for the continuance of Raceland to care for his horses and dogs for the rest of their lives.[3] Never married, he left the bulk of his estate to the Massachusetts Society for the Prevention of Cruelty to Animals (MSPCA) and Massachusetts General Hospital.[1]

References

  1. ^ a b c Tremblay, Bob (April 27, 2008). "Mr. Know-It-All: A little bit more on Macomber". Metrowest Daily News.
  2. ^ a b c "Elected Trustees of Tufts College". The Boston Daily Globe. December 21, 1922.
  3. ^ a b c d e f g h i j k "J. R. Macomber, Fiancier and Sportsman, Dies". The Boston Daily Globe. May 12, 1955. p. 24. Retrieved August 14, 2023 – via newspapers.com.
  4. ^ "Harris, Forbes Co Electors McGregor". The Boston Daily Globe. August 12, 1930.
  5. ^ "Chase Harris Forbes Consolidation July 1". The Boston Daily Globe. June 25, 1931.
  6. ^ "Macomber and Pope Retire Dec. 31 From First Boston Corp". The Boston Daily Globe. December 12, 1947.
  7. ^ "Sport Arena Will be Ready by Nov 1". The Boston Daily Globe. November 29, 1927.
  8. ^ Hurwitz, Hy (September 7, 1934). "Garden-Arena Plan Adopted". Boston Daily Globe.
  9. ^ "New Boston Garden Directors". The Wall Street Journal. September 10, 1934.
  10. ^ a b "Macomber Chamber of Commerce Head". The Boston Daily Globe. June 29, 1919.
  11. ^ "Urges $8,000,000 as Boston's Goal". The Boston Daily Globe. May 5, 1918.
  12. ^ "Nutter New Head of Commerce Chamber". The Boston Daily Globe. May 27, 1920.
  13. ^ "COOLIDGE APPOINTS JACKSON TREASURER; Director of Red Cross Activities in Massachusetts During the War Succeeds Burrell. LATTER QUIT UNDER FIRE Auditor Finds His Accounts Correct and Legislative Inquiry Halts Until Wednesday" (PDF). The New York Times. September 5, 1920. Retrieved 2010-02-15.
  14. ^ "Macomber is Made Chairman". The Boston Daily Globe. February 26, 1926.
  15. ^ "Petee-Wrack (USA)". americanclassicpedigrees.com. Retrieved August 14, 2023.
  16. ^ "Boston Horse to Run in Kentucky Derby". The Boston Daily Globe. May 13, 1928.
  17. ^ Daily Racing Form May 11, 1928 Preakness Stakes results chart Retrieved August 3, 2018
  18. ^ Field, Bryan (September 11, 1929). "Twin City Handicap at Belmont Won by Petee-Wrack With Distraction Second". The New York Times.
  19. ^ Field, Bryan (May 31, 1930). "Petee-Wrack Takes Suburban Handicap". The New York Times.
  20. ^ "Plan Race Track in East Boston". The Boston Daily Globe. January 12, 1935.
  21. ^ Hurwitz, Hy (March 16, 1935). "O'Hara Severs Connections with Suffolk Downs Track". The Boston Daily Globe.
  22. ^ Field, Bryan (November 6, 1928). "10,000 See Bridge Win Pimlico 'Chase". The New York Times.
  23. ^ Trott, Frank G. (June 18, 1929). "Coronel is Winner of The Country Club Grand Annual". The Boston Daily Globe.
  24. ^ "J. R. Macomber Will Rebuild Raceland". The Boston Globe. August 12, 1930. p. 12. Retrieved August 14, 2023 – via newspapers.com.
  25. ^ "Macomber Plans to Rebuild Race Plant Destroyed by Fire". The New York Times. August 12, 1930.