Horace Rackham

Horace H. Rackham (June 27, 1858 - June 12, 1933) [http://www.houghten.com/phpgedview/individual.php?pid=I6342&ged=houghten.ged Geneological data] ] was one of the original stockholders in the Ford Motor Company and a noted philanthropist.

Early Life and Ford

Rackham was born in Harrison, MichiganRoss, Robert Budd; Catlin; George Byron, and Burton, Clarence Monroe, [http://books.google.com/books?id=4n8fC5f3eccC&pg=RA1-PA197 "Landmarks of Detroit: A History of the City"] , Evening News Association, 1898, p. 197] . He graduated from high school in Leslie, Michigan in 1878. In 1879, he moved to Detroit, Michigan to work for Berry Brothers. In 1884, he began studying law under the employ of Adolph Sloman, and was admitted to the Bar in 1885. The next year, he married Mary A. Horton of Fenton, Michigan.

In 1894, he partnered with John W. Anderson to open a law firm. The partnership with was very successful, counting among their clients Alexander Y. Malcomson, a Detroit coal dealer. In 1903, at Malcomson's advice, Henry Ford hired Rackham and Anderson to draw up papers incorporating the Ford Motor Company [http://www.rackham.umich.edu/about_us/rackham_building/horace_and_mary/ Horace H. Rackham School of Graduate Studies] , Horace and Mary Rackham] . Ford (and Malcomson) also convinced the partners to buy stock in the company. Rackham scraped together $5,000 by borrowing some money and selling some real estate parcels Merz, Charles, [http://books.google.com/books?id=c_WLfyo8HHYC&pg=PA74 "And Then Came Ford"] , READ BOOKS, 2007, ISBN 1406751936, p.74] . With great uncertainty, and against the advice of others, (the president of the Michigan Savings Bank president infamously told Rackham "The horse ishere to stay, but the automobile is only a novelty – a fad,"The City of Huntington Woods, Historic District Study Committee, [http://www.ci.huntington-woods.mi.us/vertical/Sites/%7BCC8F46A0-5AD4-4749-96AE-40974FFE381C%7D/uploads/%7B8502C4AC-51B5-4494-9792-71F813FA3BC0%7D.PDF "Preliminary Report"] , Rackham Golf Course Historic District Proposal "Rackham Historic District", presented July 18, 2006, pp. 3-7] ) Rackham bought 50 shares of Ford stock (from a total of 890 shares) [http://local.aaca.org/siraaca/car_giants_2.htm The Rise of Detroit] , John Chamberlain, "Staten Island Auto Echoes"] ; Anderson bought another 50. In addition to Ford, Anderson, and Rackham, seven other people were awarded stock in the company, including Malcomson, James J. Couzens (future mayor of Detroit and Michigan Senator) and John Francis Dodge and Horace Elgin Dodge (who later founded the Dodge Brothers Motor Vehicle Company). At the first meeting of stockholders, Rackham was elected chairman.Bryan, Ford R., [http://www.hfha.org/birthformoco3.htm "The Birth of Ford Motor Company"] , retrieved from [http://www.hfha.org/mainav.htm The Henry Ford Historical Association website] , Dec 12, 2007.]

Ford Motor Company was wildly successful, providing substantial dividends, and in 1913 Rackham quit his law practice. In 1919, Edsel Ford (acting for his father Henry) purchased Rackham's stock for 12.5 million dollars. Rackham spent the rest of his life as a philanthropist, giving money to children's charities, the University of Michigan, and other causes.

Detroit Zoo

From 1924 to 1928, Rackham was the first president of the Detroit Zoological Commission, which negotiated with the city for support for the zoo [http://www.detroit1701.org/Rackham%20Memorial%20Fountain.html Detroit 1701] : Rackham Fountain] . In 1924, Rackham purchased acres of land in what is now Huntington Woods, Michigan near land owned by the Detroit Zoological Society. Through his friend James Couzens (the mayor of Detroit), Rackham anonymously promised to donate the land to Detroit if voters would approve financing for the Detroit Zoo [http://www.detroitzoo.org/About/About_the_Zoo/Detroit_Zoological_Society/ Detroit Zoological Society] , history] . A millage was approved, and Rackham followed through by giving 22 acres of his purchase to the Zoo for use as a parking lot; a memorial fountain at the zoo bears his name. The remaining acreage was given to the city of Detroit, explicitly for use as a public golf course. In 1925 the Rackham Golf Course, reportedly the first 18-hole course constructed in Michigan, opened to the public.

Philanthropy

in Detroit, intended for use by the Extension Service of the University of Michigan and the Engineering Society of Detroit [http://www.daads.org/modern/1801/article09.htm The Horace H. Rackham Educational Memorial Building] , Mary Johanna Byrnes, "The Modern," 2005.] , was built in 1940 using money willed to the University [http://detroit1701.org/RackhamEducMemorialBldg.htm Detroit 1701] : Rackham Educational Memorial Building] .

After the deaths of Mary Rackham in 1947, the Horace H. and Mary A. Rackham Fund was created. The fund was to be used expressly "for such benevolent, charitable, educational, scientific, religious and public purposes ... will promote the health, welfare, happiness, education, training and development of men, women and children, particularly the sick, aged, young, erring, poor, crippled, helpless, handicapped, unfortunate and underprivileged, regardless of race, color religion or station."

Sources

References

* Ross, Robert Budd, Catlin, George Byron, Burton, Clarence Monroe, [http://books.google.com/books?id=4n8fC5f3eccC&pg=RA1-PA197"Landmarks of Detroit: A History of the City"] , Evening News Association, 1898, p. 197.
* Merz,, Charles, [http://books.google.com/books?id=c_WLfyo8HHYC&pg=PA74 "And Then Came Ford"] , Read Books, 2004, ISBN 1406751936, p. 74.