- Payne Whitney
Infobox Person
name = Payne Whitney
image_size =
caption =
birth_date = March 20, 1876
birth_place =New York City flagicon|USA
death_date = May 25, 1927
death_place =Manhasset, New York flagicon|USA
occupation = Investor
Racehorse owner/breeder
PhilanthropistWilliam Payne Whitney (
March 20 ,1876 -May 25 ,1927 ) was a wealthy American businessman and member of the influentialWhitney family . The son ofWilliam C. Whitney and Flora Payne, and younger brother to Harry, he was known throughout his life by his middle name.Payne Whitney attended
Groton School and thenYale University . There, he was a member ofSkull & Bones ,Delta Kappa Epsilon , and captained the Yale rowing team. In later years, he helped finance the team, including donating funds to build a dormitory for the crew. After graduating in 1898, Whitney then studied law at theHarvard Law School , receiving hisBachelor of Laws in 1901.In 1902, he married Helen Hay (1875-1944), the daughter of then-
United States Secretary of State (and formerU.S. Ambassador to the United Kingdom )John Hay . TheirStanford White -designed house at972 Fifth Avenue was a wedding gift from his maternal uncle,Oliver Hazard Payne . The couple also had an estate,Greentree , inManhasset, New York . Their son,John Hay Whitney , also served as the Ambassador to the U.K. Daughter Joan, an avid sportsperson, was the first owner of theNew York Mets Major League Baseball team.In addition to a substantial inheritance from his father, Payne Whitney inherited $63,000,000 from his uncle, Col. Oliver Hazard Payne. Amongst his many investments, Whitney had major holdings in banking, tobacco, railroads, mining and oil. He was 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 the Northern Finance Corporation.
Throughout his life, Payne Whitney was involved in philanthropic work for a variety of causes. A trustee of the
New York Public Library in 1923 he gifted the library $12,000,000.A
horse racing enthusiast in the tradition of his father and brother, Payne Whitney'sGreentree Stable , named for theirLong Island estate, was a very significant racing and breeding operation forthoroughbred horses.Whitney died in 1927 at his Greentree estate. His will bequeathed more than $20 million to the
New York Hospital and smaller amounts to other educational and medical institutions. His estate funds contributed to the establishment of thePayne Whitney Psychiatric Clinic atNew York-Presbyterian Hospital in 1932. Although he had contributed $1,000,000 to theYale Endowment Fund shortly before his death, sufficient estate funds were also given to Yale to enable construction of the 9½ storeyPayne Whitney Gym that too was completed in 1932. As a tribute to him, a road in Manhasset was named after him, Payne Whitney Lane.References
* cite news
author=
title=Harry Payne Whitney, Youthful Guard of Millions; He Says His Life Will Be Devoted to Business -- He May Sell Horses Some Day, but Not Now.
date=
work=New York Times
url=http://query.nytimes.com/gst/abstract.html?res=9C01EEDC123AE733A25756C0A9609C946597D6CF
accessdate=2008-08-09
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