Edward Thomas "E.T." Bedford (February 19, 1849 – May 21, 1931) was an American executive of
Standard Oil. In 1902, he founded the Corn Products Refining Company, now known as
Ingredion
Ingredion Incorporated is an American multinational ingredient provider based in Westchester, Illinois, producing mainly starches, non-GMO sweeteners, stevia, and pea protein. The company turns corn, tapioca, potatoes, plant-based stevia, grain ...
.
E.T. was an active member of the community in
Westport, Connecticut
Westport is a town in Fairfield County, Connecticut, United States, along the Long Island Sound within Connecticut's Gold Coast. It is northeast of New York City. The town had a population of 27,141 according to the 2020 U.S. Census.
History
...
, having donated buildings to the city for their middle school, firehouse, and a
YMCA
YMCA, sometimes regionally called the Y, is a worldwide youth organization based in Geneva, Switzerland, with more than 64 million beneficiaries in 120 countries. It was founded on 6 June 1844 by George Williams (philanthropist), Georg ...
for the youth to use.
After resigning from his position at the Standard Oil Company of New Jersey in 1909, he worked full-time for the Corn Products Refining Co., up until his death on May 21, 1931.
Early life
E.T. Bedford was born February 19, 1849, in
Greens Farms, Connecticut
Green's Farms is the oldest neighborhood in the town of Westport in Fairfield County, Connecticut, United States. It was listed as a census-designated place prior to the 2020 census.
Geography
Boundary
The boundaries of the neighborhood, like ...
, to Frederick Thomas Bedford and Mary Anne Elizabeth Pace, British immigrants who had arrived from London the previous year. Frederick was a deacon in the church and a noted wood carver; the hand carved frame for the portrait of The Prince of Wales, who was King Edward VII at the time, was his most famous piece.
["The Encyclopedia Americana", Frederick Converse Beach, George Edwin Rines, 1915]
E.T. went to school at
Adams Academy
Adams Academy was a school that opened in 1872 in Quincy, Massachusetts, United States. John Adams, the second President of the United States, had many years before established the Adams Temple and School Fund. This fund gave of land to the peopl ...
in Greens Farms, as well as the public schools of
Brooklyn
Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...
, and Maple Grove Academy in
Westport, Connecticut
Westport is a town in Fairfield County, Connecticut, United States, along the Long Island Sound within Connecticut's Gold Coast. It is northeast of New York City. The town had a population of 27,141 according to the 2020 U.S. Census.
History
...
. Please note: Adams Academy, a former prep school, is in Quincy MA and opened in 1872 when E.T. Bedford was 23. Appears to be the wrong school.
Career
He spent his time working on the farm with his father and neighbors. One of his proudest moments was buying a winter jacket from the money he earned as a 14-year-old farm hand. Frederick Thomas was a farmer and made a large amount of money selling onions, which had a large boom post-
Civil War
A civil war or intrastate war is a war between organized groups within the same state (or country).
The aim of one side may be to take control of the country or a region, to achieve independence for a region, or to change government policies ...
. Taking what he learned from farming with his father and the community, E.T. joined
Charles Pratt and Company
Charles Pratt and Company was an oil company that was formed in 1867 by Charles Pratt and Henry H. Rogers in Brooklyn, New York. It became part of John D. Rockefeller's Standard Oil organization in 1874.
History
Pratt, born in Watertown, Massach ...
as a salesman.
E.T. helped the chemist
Robert Chesebrough
Robert Augustus Chesebrough, (January 9, 1837 – September 8, 1933) was an American chemist who discovered petroleum jelly—which he marketed as Vaseline—and founder of the Chesebrough Manufacturing Company.
Life and career
Born in ...
establish sales for his new product,
Vaseline
Vaseline ()Also pronounced with the main stress on the last syllable . is an American brand of petroleum jelly-based products owned by transnational company Unilever. Products include plain petroleum jelly and a selection of skin creams, soa ...
.
By 1880, E.T. was the managing partner of the firm Thompson and Bedford Company, Limited, consisting of R.J. Thompson, himself,
Charles Pratt
Charles Pratt (October 2, 1830 – May 4, 1891) was an American businessman. Pratt was a pioneer of the U.S. petroleum industry, and he established his kerosene refinery Astral Oil Works in Brooklyn, New York. He then lived with his growing fam ...
, and
Henry H. Rogers
Henry Huttleston Rogers (January 29, 1840 – May 19, 1909) was an American industrialist and financier. He made his fortune in the oil refining business, becoming a leader at Standard Oil. He also played a major role in numerous corporations a ...
, most of whom became prominent leaders in petroleum through the
Standard Oil Co. His firm was the eastern selling agents for Standard Oil, which owned the majority stake in his company's stock. Thompson retired and E.T. became the president of the company on May 15, 1911. The Standard Oil Company was dissolved under the
Sherman Antitrust Act
The Sherman Antitrust Act of 1890 (, ) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author.
...
. His department at the Standard Oil Company became the Thompson and Bedford department again, but with Thompson retired, Bedford was the president and head of the company once more.
In 1903, E.T. was elected director of the
Standard Oil Company of New Jersey. On January 1, 1909, he retired from active management of the company to pursue his interest in the
Corn Products Refining Company (CPRC), which was an $80 million company of which he was president. After a public sale of $10 million in bonds, E.T. was able to make the CPRC grow and become incredibly profitable, with a profit of over $3 million per year.
![La Pallice - La Rochelle - Bedford Petroleum Company](https://upload.wikimedia.org/wikipedia/commons/6/62/La_Pallice_-_La_Rochelle_-_Bedford_Petroleum_Company.jpg)
E.T. had many businesses going on at once. He was associated with the ice business in New York with the notorious
Charles W. Morse. he was the President of Corn Oil Refining Products, the New York Glucose Company, the Bedford Petroleum Company of France, the Colonial Oil Company of New Jersey, and the
Self Winding Clock Company
The Self Winding Clock Company (SWCC) was a major manufacturer of electromechanical clocks from 1886 until about 1970. Based in New York City, the company was one of the first to power its clocks with an electric motor instead of winding by hand. ...
; Vice President of the Matheson Lead Company; a Director of the Standard Oil Company of New Jersey, the Bush Terminal Company, the Thompson-Starrett Company; and a Trustee and Director of the Title Guarantee and Trust Company, the Southport Trust Company of Connecticut, and the Long Island Safe Deposit Company of Brooklyn.
Horse racing
Aside from his many successful business ventures, E.T. Bedford was an expert breeder and horseman, holding a world record in the team to road wagon over a half-mile track of 2:12.25, also the race record to wagon of 2:08.25, which is the fastest mile driven in which more than two horses competed.
Legacy
E.T. Bedford was actively involved in community projects and philanthropy. The first YMCA building in Westport, CT was donated by him in 1923 so the youth of the day would have a place to congregate in a safe and recreational fashion. A quote from his commencement speech on the opening of the YMCA building:
Sometimes on a Saturday afternoon and often of an evening I used to go to Westport and I have stood outside the windows of the old Westport hotel, where this building now stands, watching a game of pool or billiards. I was not allowed to enter on account of the saloon. The recollection of this and the experience taught me as to the need of some place for boys and young men to congregate lead to this building, which I hope may not only fill this want, but also be the headquarters for many good things that can be done for the benefit of our town.
As reported in the Westporter Herald- "In our office we have perhaps 400 young men and women. Occasionally we hear from their mothers, sometimes from their fathers, that they work too hard. In my experience, this has never been true. It is not the extra hour at the office that is impairing their health or lessening their strength, it is the hours they spend in enjoyment, dancing, late suppers, etc. It is my belief no one has ever shortened his life from work. Of course they might worry in connection with their work, but not from the work itself. Take Mr. Edison. We know the hours he works in his laboratory, disregarding time, in the interest he takes in his work, and see what a vigorous man he is and what he has accomplished."
Do not think, boys and young men, that you work too hard – the whole question is, do you work hard enough?
Bedford Park, Bronx was named after E.T. in 1906 by his contemporary Leonard Jerome, who had developed that part of the Bronx.
Bedford Park, Illinois
Bedford Park is a village in Cook County, Illinois, United States, and is an industrial suburb of Chicago. The population was 602 at the 2020 census. Bedford Park consists of a small residential area and vast amounts of heavy industry sprawling t ...
, was named for E.T., having been the owner of the company
Corn Products International which brought in the work for the area. The people decided to call it Bedford Park after the owner of the company.
References
External links
*
1849 births
1931 deaths
Businesspeople from Connecticut
American energy industry executives
Standard Oil
People from Fairfield, Connecticut
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