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. He attended public schools in Framingham and the Chauncey Hill School in Boston. In 1897, he graduated from the Massachusetts Institute of Technology.

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. In 1930, he became chairman of the board of directors. In 1931, the business was consolidated with

Chase Chase or CHASE may refer to: Businesses * Chase Bank, a national bank based in New York City, New York * Chase Aircraft (1943–1954), a defunct American aircraft manufacturing company * Chase Coaches, a defunct bus operator in England * Chase Co ...

Securities to become Chase, Harris, Forbes Corporation. In 1934, Chase, Harris, Forbes dissolved its banking affiliates and Macomber became chairman of the

First Boston Corporation : ''For the company after its acquisition by Credit Suisse, see Credit Suisse First Boston (known as CSFB and CS First Boston)'' The First Boston Corporation was a New York-based bulge bracket investment bank, founded in 1932 and acquired by Cred ...

. He retired from the board on December 31, 1947. 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 Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpor ...

, the International Paper Company, Chase National Bank, United Shoe Machinery Corporation, and

Puget Sound Power and Light Puget Sound Energy (PSE) is an energy utility company based in the U.S. state of Washington that provides electrical power and natural gas to the Puget Sound region. The utility serves electricity to more than 1.1 million customers in Island, Ki ...

. 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 Madison Square Garden, colloquially known as The Garden or by its initials MSG, is a multi-purpose indoor arena in New York City. It is located in Midtown Manhattan between Seventh and Eighth avenues from 31st to 33rd Street, above Pennsylva ...

Corporation, the

Boston and Maine Corporation The Boston and Maine Railroad was a U.S. Class I railroad in northern New England. Originally chartered in 1835, it became part of what was the Pan Am Railways network in 1983 (most of which was purchased by CSX in 2022). At the end of 1970, B ...

, and a number of Boston businessmen, also included Tex Rickard,

Homer Loring Homer Loring was an American industrialist who served as chairman of the Boston & Maine Railroad from 1924 to 1928. He was known for reorganizing large industries. Early life Loring was born on October 1875 in Newton Center, Massachusetts. He att ...

, George Hannauer, Edward Lawrence Logan, Louis K. Liggett, Charles F. Adams, Huntington Hardwick, and Joseph Gilman. 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 The Boston Garden-Arena Corporation was an American corporation that oversaw the operations of the Boston Garden from 1934 to 1973. It was formed when the Boston Arena Corporation gained control of the Boston Garden from the Madison Square Garden ...

Public service

During World War I, Macomber served as chairman of the New England

Liberty Loan A liberty bond (or liberty loan) was a war bond that was sold in the United States to support the Allied cause in World War I. Subscribing to the bonds became a symbol of patriotic duty in the United States and introduced the idea of financi ...

committee and of Metropolitan Boston trade in the United War Work campaign. From 1919 to 1920, Macomber served as President of the Boston Chamber of Commerce. On September 3, 1920, Massachusetts State Treasurer

Fred J. Burrell Fred Jefferson Burrell (March 12, 1889 – October 15, 1955) was a Massachusetts businessman and politician who served in the Massachusetts House of Representatives and as Treasurer and Receiver-General of Massachusetts from January 21, 1920 – ...

resigned following an investigation by a special legislative committee and Governor

Calvin Coolidge Calvin Coolidge (born John Calvin Coolidge Jr.; ; July 4, 1872January 5, 1933) was the 30th president of the United States from 1923 to 1929. Born in Vermont, Coolidge was a History of the Republican Party (United States), Republican lawyer ...

appointed Macomber,

Albert P. Langtry Albert Perkins Langtry (July 27, 1860 – August 28, 1939) was an American newspaper editor and publisher, politician, Massachusetts Secretary of the Commonwealth, and a member of the Republican Party (United States), Republican Party. Biography ...

, and

Henry A. Wyman Henry Augustus Wyman was an American attorney who served as Acting Attorney General of Massachusetts following the resignation of Henry Converse Atwill and Acting Treasurer and Receiver-General of Massachusetts (along with Albert P. Langtry and ...

to administer the office until a successor could be confirmed. In 1922, Macomber was elected a life member of the board of trustees at Tufts College. In 1926, he was named chairman of

Massachusetts General Hospital Massachusetts General Hospital (Mass General or MGH) is the original and largest teaching hospital of Harvard Medical School located in the West End neighborhood of Boston, Massachusetts. It is the third oldest general hospital in the United Stat ...

's finance campaign committee.

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 Gallant Fox (March 23, 1927 – November 13, 1954) was a champion American Thoroughbred racehorse who is the second winner of the American Triple Crown. In a racing career which lasted from 1929 to 1930, Gallant Fox won 11 of his 17 races includ ...

. Petee-Wrack ran in the

1928 Kentucky Derby The 1928 Kentucky Derby was the 54th running of the Kentucky Derby. The race was run on May 19, 1928. Payout ;The Kentucky Derby Payout Schedule Field *Margins – 3 Lengths *Time – 2:10 2/5 *Track – Heavy References Kentucky Der ...

and Preakness Stakes and won the 1928 Travers Stakes, 1929

Twin City Handicap The Twin City Handicap was an American Thoroughbred horse race first run in 1884 at Sheepshead Bay Race Track in Sheepshead Bay, New York where it continued annually through 1909. Following passage by the New York State Legislature of the Hart� ...

, and 1930

Suburban Handicap The Suburban Stakes is an American Grade II Thoroughbred horse race run annually at Belmont Park in Elmont, New York. Open to horses age three and older, it is now run at the mile distance on dirt for a $700,000 purse. Named after the City and Su ...

. Petee-Wrack's offspring included Widener Challenge Cup winner Columbiana, Grand National winner Brother Jones, and Maryland Hunt Cup winners Peterski and Pine Rep. Macomber was the first president of the Eastern Horse Club, which conducted races at

The Country Club The Country Club, located in Brookline, Massachusetts, is the oldest golf-oriented country club in the United States. (The Philadelphia Cricket Club, founded in 1854, was the first country club for any sport.) It holds an important place in ...

and Raceland from 1926 to 1935. After parimutuel betting was legalized in Massachusetts, Macomber, Charles Adams,

Bayard Tuckerman Jr. Bayard Tuckerman Jr. (April 19, 1889 – April 14, 1974) was an American jockey, businessman, and politician. Early life Tuckerman was born on April 19, 1889 in Morristown, New Jersey, to Bayard Tuckerman and Annie Smith Tuckerman. He was raised ...

, and members of the Eastern Horse Club formed the Eastern Racing Association to open a thoroughbred race track in East Boston. At Macomber's suggestion, the new track was named

Suffolk Downs Suffolk Downs is a former Thoroughbred race track in East Boston, Massachusetts, United States. The track opened in 1935 after being built by Joseph A. Tomasello for a cost of $2 million. It was sold in May 2017 to a developer who plans to crea ...

. Beginning in 1956, the closing race of Suffolk Downs' spring meeting was called the John R. Macomber Memorial Handicap.

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. In 1929, his horse Coronel won The Country Club Grand National steeplechase race.

Raceland

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. In 1930, the stable and clubhouse were destroyed by fire, but he replaced the buildings in time for the next year's meet.

Death

Macomber died at his home in Framingham on May 11, 1955, at the age of 80. His will provided for the continuance of Raceland to care for his horses and dogs for the rest of their lives. Never married, he left the bulk of his estate to the

Massachusetts Society for the Prevention of Cruelty to Animals The Massachusetts Society for the Prevention of Cruelty to Animals-Angell Animal Medical Center (MSPCA-Angell) is a 501(c)(3) non-profit organization with its main headquarters on South Huntington Avenue in the Jamaica Plain neighborhood of Bos ...

(MSPCA) and

References

{{DEFAULTSORT:Macomber, John R. 1875 births 1955 deaths American financiers American philanthropists American racehorse owners and breeders Massachusetts Institute of Technology alumni Massachusetts Republicans People associated with the MSPCA-Angell People from Framingham, Massachusetts Suffolk Downs executives