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McCormick Family Financial Records

 Collection
Identifier: Midwest-MS-McCormick Family

Scope and Content of the Collection

Eight financial ledgers for members of the McCormick family.

Most of the ledgers are for personal finances, such as journals for cash received/disbursed as well as stock trading. Five of the ledgers appear to be for Cyrus H. McCormick, Jr., though some entries continue after his death and may be for his son, Cyrus H. McCormick III. The earliest ledger (1890-1935) is for Cyrus H. McCormick, Jr.’s personal expenses, and includes such entries as services for the residence and grounds of his Lake Forest estate and trips abroad. There is a copy of a 1906 legal settlement with Herman H. Kohlsaat affixed to one of the pages. Several more ledgers are also for personal expenses, including entries for loans to family members, like McCormick’s loan totaling $200,000 to Cyrus H. McCormick III for improvements on his son’s home, as well as donations to various organizations and causes. There is also a ledger for non-cash assets like stocks and bonds, and salary records. Additionally, there are two ledgers (1928-1935 cash received/disbursed, and 1927-1941 stocks and other assets) for Harold F. McCormick, and a 1923-1958 general ledger for McCormick real estate.

Dates

  • 1890-1958

Creator

Language

Materials are in English.

Conditions Governing Access

The McCormick Family Financial Records are open for research in the Special Collections Reading Room (Priority III).

Ownership and Literary Rights

The McCormick Family Financial Records are the physical property of the Newberry Library. Copyright may belong to the authors or their legal heirs or assigns. For permission to publish or reproduce any materials from this collection, contact the Roger and Julie Baskes Department of Special Collections.

Biography of Cyrus H. McCormick and McCormick Family

Chicago-based manufacturers and philanthropists.

Cyrus Hall McCormick, Jr. (1859-1936), was the oldest son of reaping machine inventor Cyrus Hall McCormick, Sr. After his father’s 1884 death, Cyrus H. McCormick, Jr. took over as president of the McCormick Harvesting Machine Company, and continued in that role when the company merged with rival Deering Harvester Company in 1902 to create the International Harvester Company. He married Harriet Bradley Hammond in 1889 and had three children. He retired as president in 1919, but remained as chairman of the board. Harriet died in 1921, and in 1927 Cyrus married Alice M. Hoit.

McCormick’s brother, Harold Fowler McCormick (1872-1941), also worked for International Harvester and served as vice-president from 1901-1919. He took over as president from his brother in 1919 and remained in that position until 1922, when he resigned and took up the new position of Chairman of the Executive Committee. Harold McCormick married Edith Rockefeller in 1895, with whom he had three children. They later divorced, and he married opera singer Ganna Walska in 1922; they divorced in 1931. He took over as chairman of the board from his brother in 1935.

McCormick’s son Cyrus H. McCormick III (1890-1970) began his career with the company in sales at its Wichita branch, then became branch manager, and eventually stepped in as vice-president of manufacturing in 1922 when his uncle resigned as president. He later became chairman of the company. He married Dorothy Linn in 1915.

The McCormicks were devoted philanthropists, particularly in the Chicago area. They were active in and donated generously to organizations like the World War I War Fund, the Fatherless Children of France Society, the Y.M.C.A., the Art Institute of Chicago, and the Chicago Orchestral Association.

Extent

2.5 Linear Feet (8 volumes)

Abstract

Eight financial ledgers for members of the McCormick family. Primarily records for Cyrus Hall McCormick, Jr., including records of cash received/disbursed, journals, and stocks. There are also personal financial ledgers for McCormick's brother Harold Fowler McCormick and entries for McCormick's son, Cyrus H. McCormick III, as well as account records for McCormick real estate in the Chicago area.

Arrangement

Arranged chronologically.

Collection Stack Location

1 25 4-5

Provenance

Unknown, 1995.

Processed by

Emma Reynolds, 2010.

Acknowledgements

This inventory was created with the generous support of the National Endowment for the Humanities. Any views, findings, conclusions, or recommendations expressed in this inventory do not necessarily represent those of the National Endowment for the Humanities.
Title
Inventory of the McCormick Family Financial Records, 1890-1958
Status
Completed
Author
Emma Reynolds
Date
©2010.
Language of description
English
Script of description
Latin

Repository Details

Part of the The Newberry Library - Modern Manuscripts Repository

Contact:
60 West Walton Street
Chicago Illinois 60610 United States
312-255-3512