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69-466: Born in 1904 to Payne Whitney and Helen Hay Whitney , Whitney was a member of the wealthy and prominent Whitney family , longstanding fixtures of New York City and New England society. After attending Groton School and Yale College , where he was an oarsman , he inherited a large fortune from his father, making him one of the wealthiest people in the United States. In 1929, he participated in

138-621: A competitive advantage over Duke's competitors; he was able to lower his prices further than others could. In the 1880s, while Duke was beginning to machine-roll all his cigarettes, he saw that growth rates in the cigarette industry were declining. His solution was to combine companies and found “one of the first great holding companies in American history.” Duke spent $ 800,000 on advertising in 1889 and lowered his prices, accepting net profits of less than $ 400,000, forcing his major competitors to lower their prices and, in 1890, join his consortium by

207-631: A deal completed in October 1996, when the plant had 311 employees, and kept 100 of them. ITG Brands announced November 1, 2018 that the plant would close in 2020. In 2004, the previously abandoned American Tobacco Campus (ATC) in Durham was reopened as a complex of offices, shops, and restaurants. The American Tobacco Campus had been the headquarters of the American Tobacco Company. Developed by Capitol Broadcasting and reopened as

276-452: A hostile takeover of Lee, Higginson & Co. with Langbourne Willliams , rising to the position of chairman of the board at just 29 years old. In 1946, after serving in the Office of Strategic Services during World War II , he founded J. H. Whitney & Company , the oldest venture capital firm in the United States and the origin of the term "venture capital". By the 1970s, he was one of

345-777: A long illness. Payne Whitney made substantial gifts to Yale, to the New York Presbyterian Hospital , and the New York Public Library . After his father's death, the family built the Payne Whitney Gymnasium at Yale in his honor. The family also financed Payne Whitney Psychiatric Clinic at New York Presbyterian Hospital in 1932. Whitney created the John Hay Whitney Foundation for educational projects in 1946. The foundation provided fellowships to

414-492: A major investor in two of Astaire's Broadway stage vehicles, The Band Wagon (1930) and Gay Divorce (1932), and played a crucial role in securing for Astaire a contract with RKO Pictures in 1933, using his contacts with Merian C. Cooper ; both men were board members of Pan American Airways whose planes were prominently featured in Astaire's breakthrough film with Ginger Rogers : Flying Down to Rio (1933). During

483-566: A member of the Virginia Thoroughbred Association Hall of Fame. On March 1, 1942, he married Betsey Cushing Roosevelt Whitney , ex-wife of James Roosevelt , son of Franklin D. Roosevelt , and adopted her two daughters: Whitney met Fred Astaire in New York City while the former was a student at Yale University and they became lifelong friends, sharing a passion for horse racing. Whitney became

552-473: A monopolization within the first and second sections of the Anti-Trust Act.” Dissolution proved complicated. The American Tobacco Company had combined many prior companies and processes. One department would manage a certain process for the entire organization, producing brands previously owned by other companies. “Plants had been assigned specific products without regard for previous ownership.” Over

621-414: A number of very large dry martinis" William S. Paley (the legendary founder of CBS), who was Whitney's brother in law, had a gentle rivalry with Whitney. Once while watching television with Whitney at Greentree, Paley wanted to change the channel. 'Where's your clicker?' Paley asked, figuring Jock would have a remote-control switch at his fingertips. Jock calmly pressed a buzzer, and his butler walked up to

690-723: A pair of big-wheel roller skates as a present. A few years later roller skating was one of his most important dance numbers on film. Whitney and Jimmy Altemus provided the lyrics for a sing composed by Fred Astaire, "Tappin' the Time." President Dwight D. Eisenhower took pains to transmit to Ambassador Whitney in London, by telegram, the first round golf scores of the Masters Tournament at the Augusta National Golf Club on 5 April 1957. Ambassador Whitney had

759-593: A sort of monopoly over the tobacco industry, the Tobacco Trust's international expansion in conjunction with its consolidation of all types of tobacco “ultimately made the Trust so vulnerable to regulation and judicial dissolution”. The Sherman Antitrust Act was passed in 1890, and in 1907, the American Tobacco Company was indicted in violation of it. In 1908, when the Department of Justice filed suit against

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828-440: A subsidiary. American Brands acquired a variety of non-tobacco businesses during the 1970s and 1980s and sold its tobacco operations to Brown & Williamson in 1994. American Brands subsequently renamed itself "Fortune Brands". James Buchanan Duke 's entrance into the cigarette industry came about in 1879 when he elected to enter a new business rather than face competition in the shredded pouched smoking tobacco business against

897-559: A substantial inheritance from his father, William inherited $ 63,000,000 from his uncle, Col. Oliver Hazard Payne . Amongst his many investments, he possessed major holdings in banking, tobacco, railroads, mining and oil. He was also a member of the board of directors and/or an executive officer of several large corporations, including the City Bank New York , and the Great Northern Paper Company , and

966-494: A very demanding and exhausting schedule but was not fazed by it. After having been to three or four receptions one day, his wife was not surprised to find their chauffeur, groggy from his rounds, dozing on the back seat of their limousine and the Ambassador driving the car. Whitney: "I have just had a heart attack and am on a very strict diet. However if you will twist my arm a little, I will probably give in and we will consume

1035-600: Is reflected in the form of his name associated with several of his philanthropic endeavors. Whitney was educated at the Groton School . He attended Yale College , where he was a member of Skull and Bones and Delta Kappa Epsilon , and captained the Yale rowing team. After graduating in 1898, Whitney then studied law at the Harvard Law School , receiving his Bachelor of Laws in 1901. In addition to

1104-423: Is the act of buying companies that perform services or produce goods on different parts of the supply chain. The American Tobacco Company began to expand to Great Britain, China, and Japan. The company also maintained an interest in producing other tobacco products in case trends within the cigarette market shifted. Duke wanted to be sure that he would be prepared with a multitude of tobacco styles. While Duke did gain

1173-606: The American Tobacco Historic District , phase 1 consisted of the Fowler, Crowe, Strickland, Reed, and Washington Buildings, and included the construction of two new parking garages and a waterfall feature through the center of the campus designed by Smallwood, Reynolds, Stewart, Stewart of Atlanta, Georgia and constructed by W. P. Law, Inc. based in Lexington, South Carolina . Phase 2, consisting of

1242-496: The Bull Durham brand, also from Durham, North Carolina . In 1882, two years after W. Duke, Sons & Company entered into the cigarette business, James Bonsack invented a cigarette-rolling machine. It produced over 133 cigarettes per minute, the equivalent of what a skilled hand roller could produce in one hour, and reduced the cost of rolling cigarettes by 50%. It cut each cigarette with precision, creating uniformity in

1311-527: The Kentucky Derby in the 1930s, "Stepenfetchit," which finished 3rd in 1932, "Overtime," which finished 5th in 1933, "Singing Wood," which finished 8th in 1934, and "Heather Broom," which finished 3rd in 1939. Jock Whitney was also an outstanding polo player, with a four-goal handicap, and it was as a sportsman that he made the cover of the March 27, 1933, issue of Time magazine. In 2015, Whitney

1380-527: The Lucky Strike and Pall Mall brands into BAT's portfolio as part of BAT's American arm, Brown & Williamson. B&W later merged with R. J. Reynolds Tobacco Company in 2004. American Tobacco left Durham in the late 1980s. Brown & Williamson took over the Reidsville, North Carolina operation in 1995 and closed it, costing 1000 people their jobs, but Commonwealth Brands took it over in

1449-919: The Tate Gallery , the National Gallery of Art , the Museum of Modern Art , and the Yale University Art Gallery . Whitney was born on August 17, 1904, in Ellsworth , Maine , Whitney was a descendant of John Whitney, a Puritan who settled in Massachusetts in 1635, as well as of William Bradford , who came over on the Mayflower . His father was Payne Whitney , and his grandfathers were William C. Whitney and John Hay , both presidential cabinet members. His mother

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1518-622: The 1956 Suez Crisis , when Eisenhower demanded that the British, French and Israelis terminate their invasion of Egypt . In 1930, Whitney purchased the Llangollen estate as a bridal gift for his fiancée, the Pennsylvania socialite Mary Elizabeth "Liz" Altemus . It was a 2,200-acre (890 ha) historic equestrian farm just outside Middleburg, Virginia . They were married on September 23, 1931. Although married to Altemus, Whitney

1587-580: The 1970s, Whitney was listed as one of the ten wealthiest men in the world. The residences at his disposal over the years included an estate on Long Island ; an Atlantic Beach, NY beach house; Greenwood Plantation in Georgia; a townhouse and an elegant apartment in Manhattan ; a large summer house on Fishers Island , near New London, Connecticut ; a 12-room house in Saratoga Springs , which

1656-641: The Bride , a failure that cost him $ 100,000, but was more successful as one of the backers of Life with Father . An October 1934 Fortune article on the Technicolor Corporation noted Whitney's interest in pictures. He had met Technicolor head Herbert Kalmus at the Saratoga Race Course . In 1932, Technicolor achieved a breakthrough with its three-strip process. Merian C. Cooper of RKO Radio Pictures approached Whitney with

1725-906: The Duke-Durham branch of the American Tobacco Company. P. Lorillard retained the Lorillard properties in addition to S. Anargyos; the Luhrman and Wilburn Tobacco Company; plants in Philadelphia, Wilmington, Brooklyn, Baltimore, and Danville; and the Federal Cigar Company. At the same time as the antitrust action in 1911, the company's share in British American Tobacco (BAT) was sold. In 1994, BAT acquired its former parent, American Tobacco Company (though reorganized after antitrust proceedings). This brought

1794-617: The Lord & Thomas agency, and Edward Bernays , both of whom were hired by Hill. Lucky Strike soon accounted for 38 percent of U.S. cigarette sales. During the Great Depression the company remained successful and Hill's salary exceeded $ 2,000,000. He made a substantial investment in advertising and sponsored Your Hit Parade and the Jack Benny Show . He also sponsored Frank Sinatra , Ethel Smith and Lawrence Tibbett . In

1863-505: The Northern Finance Corporation. A horse racing enthusiast in the tradition of his father and brother, William's Greentree Stable , named for their Long Island estate, was a very significant racing and breeding operation for thoroughbred horses. Throughout his life, William Payne Whitney was involved in philanthropic work for a variety of causes. A trustee of the New York Public Library , in 1923 he gave

1932-601: The TV set to make the switch. The White House Is Nice, But It's No Greentree! E. J. Kahn, Mr. Whitney's biographer, reported that one of his daughters, Kate, once took her own children on a tour of the White House. Mr. Kahn wrote, After inspecting it, they pronounced it nice enough but hardly on a par with Greentree. [Greentree was the more prestigious of his Long Island residences'] William Payne Whitney William Payne Whitney (March 20, 1876 – May 25, 1927)

2001-847: The US, he agreed for the first time to loan part of his collection for the public to see. He provided the Tate Gallery with 56 paintings from the collection in England and specially brought in a further 11 paintings from the US. The exhibition, the John Hay Whitney Collection, ran from 16 December 1960 to 29 January 1961 In 1983 the National Gallery of Art, Washington held an exhibition of the John Hay Whitney Collection with paintings loaned by Whitney's wife, The Museum of Modern Art and Yale University Art Gallery Among

2070-586: The United Kingdom ) John Hay . Their Stanford White -designed mansion, Payne Whitney House at 972 Fifth Avenue, was a wedding gift from his maternal uncle, Oliver Hazard Payne . The couple also had an estate, Greentree , in Manhasset, New York . Together, they had two children: On September 20, 1911, Whitney was aboard the RMS Olympic when it was rammed by the warship HMS Hawke. Olympic

2139-725: The United States and in Europe. He owned Easter Hero , the Jack Anthony trained horse who was the first to win the Cheltenham Gold Cup twice in succession, in 1929 under the mount of Dick Rees and again in 1930, when ridden by Tommy Cullinan . In the 1929 Grand National , his horse twisted a plate and was beaten by a nose at the finish. Although Whitney entered the Grand National annually, he never again came close to winning. The Whitneys entered four horses in

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2208-803: The United States, the North Shore-Long Island Jewish Health System. In 1953, Whitney received The Hundred Year Association of New York 's Gold Medal Award "in recognition of outstanding contributions to the City of New York." In the late 1960s/early 1970's John Hay Whitney donated two small parcels of land in Manhasset to the County of Nassau and to the Manhasset-Lakeville Volunteer Fire Department. The Nassau County parcel

2277-859: The Whitneys used when they attended horse races; a golfing cottage in Augusta, Georgia , where he was a member of the Augusta National Golf Club ; and a spacious house Cherry Hill in Virginia Water, Surrey, England , near the Ascot Racecourse . Mr. Whitney also owned an estate in Aiken, South Carolina , which he considered his "retirement" home and where he hoped to spend his final days. Whitney died on February 8, 1982, at North Shore Hospital, Manhasset, Long Island, after

2346-491: The Yale Endowment Fund shortly before his death, sufficient estate funds were given to enable Yale's construction of the 9½ story Payne Whitney Gymnasium that too was completed in 1932. As a tribute to him, a road in Manhasset was named after him, Payne Whitney Lane. In 1902, Whitney married Helen Julia Hay (1875–1944), the daughter of then- United States Secretary of State (and former U.S. Ambassador to

2415-682: The arts, financing several Broadway productions and films, including two Academy Award for Best Picture, Gone with the Wind (1939) and Rebecca (1940) . He was an early supporter of Fred Astaire , his longtime friend, and helped secure Astaire his first major film contract with RKO Pictures . His large art collection included famous works by Pierre-Auguste Renoir , Claude Monet , Edgar Degas , Édouard Manet , Edward Hopper , Henri Matisse , James McNeill Whistler , John Singer Sargent , Paul Cézanne , Paul Gauguin , William Blake and Vincent Van Gogh . Works from his collection have been exhibited at

2484-559: The board of trustees of the Museum of Modern Art in New York City, and named President of the MoMA Film Library in 1935. In 1941 he succeeded Nelson A. Rockefeller as President of MoMA. In 1946 he succeeded Stephen C. Clark as chairman of the board of trustees When Whitney moved to England as United States ambassador, he took a number of his favourite artworks with him to enjoy during his posting. Before his return to

2553-664: The board. He put up half the money to option Margaret Mitchell 's Gone with the Wind for the Selznick film version , in which he then invested, and later in Rebecca (1940). Whitney served in the United States Army Air Forces as an intelligence officer during World War II , assigned to the Office of Strategic Services . This is where he met his good friend and former leader of the CIA, Allen Dulles. He

2622-792: The cigarettes it rolled. Public stigma was attached to this machine-rolled uniformity, and Allen & Ginter rejected the machine almost immediately. The first Bonsack machine was installed in the Durham Duke tobacco plant on April 30, 1884. Duke set a deal with the Bonsack Machine Company when he installed his machine. Duke agreed to produce all cigarettes with his two rented Bonsack machines and in return, Bonsack reduced Duke's royalties from $ 0.30 per thousand cigarettes to $ 0.20 per thousand. Duke also hired one of Bonsack's mechanics, resulting in fewer breakdowns of his machines than his competitors’. This secret contract resulted in

2691-728: The cigarettes, plug tobacco, smoking tobacco, and snuff produced in the United States. With Duke's market control, American Tobacco grew its equity from $ 25,000,000 to $ 316,000,000. American Tobacco Company quickly became known as the “Tobacco Trust” upon its founding. Duke controlled the cigarette market, and his trust caught the attention of legislators in the United States, a country with historical aversion to monopolies . American Tobacco Company focused solely on making and selling cigarettes, leaving growing of tobacco and retail distribution to independent North Carolina farmers. Nonetheless, Duke aimed to eliminate inefficiencies and middlemen through vertical consolidation . Vertical consolidation

2760-648: The company, 65 companies and 29 individuals were named in the suit. The Supreme Court ordered the company to dissolve in 1911 on the same day that it ordered the Standard Oil Trust to dissolve. The ruling in United States v. American Tobacco Co. stated that the combination of the tobacco companies “in and of itself, as well as each and all of the elements composing it whether corporate or individual, whether considered collectively or separately [was] in restraint of trade and an attempt to monopolize, and

2829-418: The company, is a multi-use rail-trail that begins just south of the Durham complex and runs 22 miles (35 km) towards Chatham and Wake Counties. It follows the route of the railroad ( Norfolk Southern Railway (former) Durham Branch) that once served the factories, but was later abandoned when these facilities were shut down. In 1925 George Washington Hill 's father died and he became the new president of

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2898-439: The company. A year later Lucky Strike accounted for one fifth of U.S. cigarette sales, and the brand was among the five best-selling US-consumed cigarettes. In 1927 Hill began directing his marketing efforts toward women, which was the first female targeted advertising of cigarettes at this time. The success of the advertising campaign, which used movie actors and singers to promote the brand, can be attributed to Albert Lasker of

2967-505: The course of eight months, a plan for the dissolution, meant to assure competition among the new companies, was negotiated. The trust needed to dissolve in such a way that no manufacturer had a monopoly on any type of tobacco product. Investors, holding millions of dollars of securities, also needed to be considered. A large question was how to distribute trademarks and brands between the resulting companies. The American Tobacco Company's assets were split off into: American Tobacco Company,

3036-446: The cultural change that occurred for women in the United States during the 1920s, made cigarette consumption increasingly prevalent. In fact, not only was the public open to the idea of women smoking cigarettes, but manufacturers boldly advertised and encouraged feminine usage of the cigarette through cigarette cards. The advertising budgets of important cigarette manufacturers such as the American Tobacco Company rapidly expanded until

3105-757: The existing R. J. Reynolds , Liggett & Myers , and Lorillard . The monopoly became an oligopoly . The main result of the dissolution of American Tobacco Trust and the creation of these companies was an increase in advertising and promotion in the industry as a form of competition. Liggett & Myers kept control of these plants: Liggett and Myers, St. Louis; Spaulding and Merrick, Chicago; Allen and Ginter, Richmond; smoking tobacco factory in Chicago; Nall and Williams, Louisville; John Bollman Company, San Francisco; Pinkerton Company, Toledo; W. R. Irby, New Orleans; two cigar factories in Baltimore and Philadelphia, and

3174-403: The golden age of radio, as well as early television, American Tobacco was known for advertisements featuring a fast-talking tobacco auctioneer named L. A. "Speed" Riggs . His rapid-fire and song-like patter would always end with the exclamation, "Sold, American!" Another famous tobacco auctioneer, F. E. Boone, was often heard in tandem with Riggs. These cigarette advertisements in conjunction with

3243-427: The help of Whitney's boss, who then enlisted Whitney's financial participation, in his efforts to oust founder and Chairman Eric P. Swenson, casting Whitney in the role of corporate raider before the term existed. Whitney was soon Freeport's biggest shareholder, enabling Williams to replace the chairman and his management team. Claiborne was made a vice-president; Williams became Freeport's president in 1933, and Whitney

3312-414: The idea of investing in Technicolor. They joined forces and founded Pioneer Pictures in 1933, with a distribution deal with RKO to distribute Pioneer's films. Whitney and his cousin Cornelius Vanderbilt Whitney bought a 15% stake in Technicolor. Whitney was also the major investor in David O. Selznick 's production company Selznick International Pictures , putting up $ 870,000 and serving as chairman of

3381-552: The library $ 12,000,000. Whitney made charitable contributions to the rowing team at his alma mater, Yale University, including donating funds to build a dormitory for the crew. His will bequeathed more than $ 20 million to establish the Payne Whitney Psychiatric Clinic at Cornell University 's medical school , now called Weill Cornell Medicine , and New York Hospital , now New York–Presbyterian Hospital in New York City. Smaller amounts to other educational and medical institutions. Although he had contributed $ 1,000,000 to

3450-443: The name of the American Tobacco Company. The five constituent companies of American Tobacco: W. Duke & Sons, Allen & Ginter , W.S. Kimball & Company, Kinney Tobacco , and Goodwin & Company – produced 90% of the cigarettes made in 1890, the first year the American Tobacco Company was listed on the NYSE . Within two decades of its founding, the American Tobacco company absorbed about 250 companies and produced 80% of

3519-476: The paintings in his collection, Jock Whitney's prized possession was the Bal au moulin de la Galette painted in 1876 by the French artist Pierre-Auguste Renoir . In 1990, his widow put the painting up for auction with Sotheby's , New York and it sold for US$ 78 million to Japanese businessman Ryoei Saito . Whitney's widow donated a number of paintings from his collection to the Greentree Foundation. One of those paintings by Pablo Picasso , Garçon à la pipe

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3588-443: The racially and culturally deprived. He became a major contributor to Yale University, where he served as a Fellow of the corporation. In 1951, he and his wife Betsey Cushing Whitney donated land from their " Greentree " estate in Manhasset, New York toward the building of North Shore Hospital. Currently called North Shore University Hospital , it is the flagship hospital of the 3rd largest not-for-profit secular healthcare system in

3657-456: The remaining buildings and expansion of the water feature at the north end of the site, was under construction as of late 2006. Many office spaces in the ATC are now used by Duke University . It was listed on the National Register of Historic Places in 2000 as the American Tobacco Company Manufacturing Plant. The nearby Watts and Yuille Warehouses were listed in 1984 and the Smith Warehouse in 1985. The American Tobacco Trail , named for

3726-409: The two countries in the wake of the Suez Crisis and purchased the New York Herald Tribune . Through the tribune, he was influential in the election of John Lindsay as mayor of New York City in 1965. Whitney was a skilled polo player and raised thoroughbred racing horses, which won him the Cheltenham Gold Cup in 1929 and 1930 and were frequent entrants in the Kentucky Derby. He was a patron of

3795-470: The wealthiest men in the world. Whitney was an influential figure in New York City politics and the politics of the Republican Party . As a moderate internationalist, Whitney was an early supporter of Dwight D. Eisenhower 's presidential campaigns, and in 1957, Eisenhower appointed him United States Ambassador to the United Kingdom , a position which had been held by his grandfather and namesake, John Hay . While ambassador, Whitney improved relations between

3864-603: Was Helen Hay Whitney . The Whitneys' family mansion, Payne Whitney House on New York's Fifth Avenue , was around the corner from James B. Duke House , home of the founder of the American Tobacco Co. , father of Doris Duke . Whitney's uncle, Oliver Hazard Payne , a business partner of John D. Rockefeller , arranged the funding for Duke to buy out his competitors. Jock Whitney attended Groton School , then Yale College . He joined Delta Kappa Epsilon fraternity (Phi chapter), as his father had. Whitney, his father, grandfather, and great-uncle were oarsmen at Yale, and his father

3933-456: Was a clerk at the firm of Lee, Higginson & Co where, through his boss, J.T. Claiborne, Jr., he met former Lee, Higginson clerk Langbourne Meade Williams, Jr. , who had come to Claiborne for help in his efforts to gain control of Freeport Texas Co. Williams was a scion of a founding investment firm in the sulfur mining company. In 1929, the year after Whitney became one of the wealthiest men in America, through inheritance, Williams enlisted

4002-420: Was an American businessman and member of the influential Whitney family . He inherited a fortune and enlarged it through business dealings, then devoted much of his money and efforts to a wide variety of philanthropic purposes. His will included funds to expand the New York Hospital , now called NewYork-Presbyterian Hospital , where the Payne Whitney Psychiatric Clinic was established. William Payne Whitney

4071-436: Was appointed chairman of the board. In 1946, Whitney founded J.H. Whitney & Company , the oldest venture capital firm in the U.S., with Benno C. Schmidt, Sr. —who coined the term "venture capital"—with J. T. Claiborne as a partner. Whitney put up $ 10 million to finance entrepreneurs with business plans who were unwelcome at banks. Companies Whitney invested in included Spencer Chemical and Minute Maid . In 1958, while he

4140-418: Was auctioned by Sotheby's in May 2004 for $ 104 million The following works have been publicly exhibited or sold from the former collection of John Hay Whitney. Sources: John Hay Whitney Collection (Catalogue), Tate Gallery, 1960, John Hay Whitney Collection (Catalogue), National Gallery of Art, 1983, Sotheby's Catalogue, auction 10 May 1999, Sotheby's Catalogue, auction 5 May 2004 Whitney gave Fred Astaire

4209-493: Was born on March 20, 1876, to William Collins Whitney (1841–1904) and Flora Payne (1842–1893). His siblings included: elder brother, Harry Payne Whitney (1872–1930), Pauline Payne Whitney (1874–1916), and younger sister, Dorothy Payne Whitney (1887–1968). After his mother's death and his father's remarriage (of which he apparently disapproved), Whitney essentially dropped the first name he shared with his father, and became commonly known simply as Payne Whitney. This choice

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4278-538: Was captain of the crew in 1898. He was a member of Scroll and Key . While at Yale, he inspired the coining of the term " crew cut " for the haircut favored by the rowing crew which still bears the name. After graduating in 1926, Whitney went to Oxford University , but the death of his father on May 25, 1927 necessitated his returning home. He inherited a trust fund of $ 20 million (approximately $ 343.9 million in 2023 dollars), and later inherited four times that amount from his mother. In 1929, Whitney, despite his vast wealth,

4347-457: Was one of the original 12 members of the Dow Jones Industrial Average in 1896. The American Tobacco Company dominated the industry by acquiring the Lucky Strike Company and over 200 other rival firms. Federal Antitrust action begun in 1907 broke the company into several major companies in 1911. The American Tobacco Company restructured itself in 1969, forming a holding company called American Brands, Inc. , which operated American Tobacco as

4416-459: Was posthumously inducted to the National Museum of Racing's Hall of Fame as Pillar of the Turf. Whitney was the major backer of Dwight D. Eisenhower and a member of the New York Young Republican Club . Eisenhower appointed him United States Ambassador to the United Kingdom , a post held sixty years earlier by Whitney's grandfather John Hay . Whitney played a major role in improving Anglo-American relations, which had been severely strained during

4485-473: Was romantically linked to Tallulah Bankhead , Joan Bennett , Paulette Goddard and Joan Crawford . Clark Gable and Carole Lombard met at one of Whitney's parties. In the early 1930s, Jock Whitney began an affair with Nina Gore Vidal; simultaneously, his wife had an affair with Nina Vidal's husband Eugene Vidal . The couple divorced in 1940, but Liz Whitney remained at Llangollen for the rest of her life, becoming an internationally renowned horse breeder and

4554-533: Was still ambassador to the United Kingdom, his company Whitney Communications Corp. bought the New York Herald Tribune , and was its publisher from 1961 to its closure in 1966. He was chairman of the International Herald Tribune from 1966 until his death. Whitney Communications also owned and operated other newspapers, magazines and broadcasting stations. Whitney's television stations were sold to Dun & Bradstreet in 1969. Whitney invested in several Broadway shows, including Peter Arno 's 1931 revue Here Goes

4623-463: Was taken prisoner by the Germans in southern France, but escaped when the train transporting him to a POW camp came under Allied fire. Whitney inherited his family's love of horses, a predilection he shared with his sister, Joan Whitney Payson . Jock and his sister ran Greentree Stables in the U.S., owned by their mother. In 1928, he became the youngest member ever elected to The Jockey Club . Whitney and his first wife "Liz" raced horses both in

4692-412: Was the new home for the 6th Police Precinct of the Nassau County Police, located at the S/E intersection of Community Drive and East Community Drive. Just east of the 6th pct, at 2 E Community Dr., the M-LFD parcel was the new home of Fire Company #2 of the M-LFD, where John Hay Whitney was voted in by the membership of Company number two as an Honorary Member of the company. In 1930 Whitney was elected to

4761-496: Was the sister ship of the RMS Titanic . Whitney died in 1927 at his Greentree estate. American Tobacco Co. 35°59′36.77″N 78°54′16.84″W  /  35.9935472°N 78.9046778°W  / 35.9935472; -78.9046778 The American Tobacco Company was a tobacco company founded in 1890 by J. B. Duke through a merger between a number of U.S. tobacco manufacturers including Allen and Ginter , Goodwin & Company , and Kinney Brothers . The company

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