Marjorie Makes Many Marks on the Market

 

  

https://lccn.loc.gov/99472879

Born in 1887, Marjorie Merriweather Post emerged as a powerful economic and business figure in the early 20th century. Her presence in the financial and business world during this time reflect a transformative era in American economic history. This time was marked by industrial growth, societal change, and shifting gender roles. By analyzing her life through primary and secondary sources, one can see how she was an inspirational force that left an enduring legacy.

Early Life and Inheritance

Marjorie owed much of her business talents to her father, C.W. Post, He was an influential figure in the food industry, best known for founding the Postum Cereal Company in 1895. When raising his daughter, Post realized that his daughter could not vote, but she could learn about business. He dedicated the time necessary to pass down his business knowledge to her.[1]

With her father’s suicide in 1914, Marjorie inherited a majority stake in the family business.[2] This inheritance served as the crucial turning point for Marjorie by providing her substantial resources as well as business influence. This financial security left by her father would enable her to live a life her father could have only imagined.

Leadership and Expansion

In the early 1920s, Marjorie took a more active role in the family business. She was instrumental in guiding the Postum company through a period of significant expansion and modernization. The New York Times’ database contains a detailed report on Postum’s ten-million-dollar investment in General Foods. The article details the monumental power play and details the stock information. The article immediately predicts this move will make Postum the “largest single food enterprise in the world.”[3] Prior to this purchase, Postum had already acquired the Certo Corporation, the Calumet Baking Powder Company, the Minute Tapioca Company of Massachusetts, Birdseye, and more.[4] Although her father had a strong opposition to coffee, the purchase of Cheek-Neal’s Maxwell House Coffee provided another valuable product to the Postum line up.[5]

Time passed and Postum realized the diversity in Postum’s acquisitions truly developed it into “General Foods.” Citing that the name “General Foods” more adequately addressed the goals of the company, Postum legally changed its name to General Foods Corporation in 1929.[6] One month after the name change, General Foods reported profits of $9,848,057.[7] Marjorie was instrumental in the Postum changes. She helped to guide her father’s company to unprecedented success. She served as a leader of one of the largest food corporations in America until 1958.[8] With her guidance, the company diversified their product line and utilized the new idea of advertising with resounding success. General Foods remains a well-known brand people recognize today.

Investments and Real Estate

Marjorie Merriweather Post’s business acumen extended well beyond the company. She found the need to diversify herself. She found some fulfillment through real estate purchases. Her 1927 purchase of her Mar-a-Lago estate serves as a prime example of her real estate investment strategy. Located in Palm Beach, Florida, the home showcased her personality and life. Although today the property is best known for belonging to Former President Donald Trump, Post and her family hosted a wide array of important people during their ownership.[9] The New York Times reported that Majorie and her husband, E.F. Hutton, treated guests to a circus provided by John Ringling for their guests’ entertainment.[10]

https://www.loc.gov/rr/print/res/114_habs.html

Marjorie purchased an additional home in Washington, DC in 1955. According to the estate’s website, shortly after the purchase she decided Hillwood would become a museum for the education and enjoyment of the public. Post maintained Hillwood as her Spring and Fall residence. The original estate plan involved the Smithsonian taking over Hillwood. However, that did not happen. The estate and all contents were returned to the Post Foundation. [11] Today, visitors can see not only Post’s beautiful estate, but they can also examine some of her Russian art collection, another investment of Post’s, that is displayed at the property.[12]

Philanthropy and Social Influence

Marjorie’s financial successes enabled her to expand her philanthropic and social causes. She put her wealth to excellent use by supporting a wide range of charities. The current Post Consumer Brands website states that the American Red Cross, National Symphony Orchestra, Salvation Army, and the John F. Kennedy Center for the Performing Arts are just a few of the groups she supported generously.[13] Many places honor Marjorie by naming things after her. For example, a very popular concert venue, Merriweather Post Pavilion in Maryland, proudly displays her name to thank her for her support of the arts.[14]

Conclusion

Marjorie Merriweather Post’s economic and business ventures demonstrate her resilience and adaptability in a rapidly changing economic landscape. Her effective and strategic approach to the management of the Postum Cereal Company, in addition to her investments and philanthropy highlight her role as a pioneering businesswoman. She challenged gender roles and proved women deserve a seat at the board room table. Her strategies proved successful. Her real estate investments show her long-term strategic thinking in the use of real estate for long-term gain. Her philanthropy highlights the use of economic success to perpetual societal change. Marjorie Merriweather Post’s life reflects a dynamic interplay of personal ambition, innovative business practices, and societal impact.

 

Bibliography:

Baltimore Heritage. “Five Minute Histories: Merriweather Post Pavilion.” YouTube. September 6, 2023. https://www.youtube.com/watch?v=iibbdVCYvgc.‌

Charlton, Linda. Special to The New York Times. "Saddened Smithsonian Returns Gift of Estate." New York Times (1923-), Apr 30, 1976. 50, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/saddened-smithsonian-returns-gift-estate/docview/122668269/se-2.

Dowd, Maureen. "Rich Little Rich Girl: Marjorie Merriweather Post Inherited a Cereal Fortune, Married Four Times and Knew how to Enjoy Herself. AMERICAN EMPRESS the Life and Times of Marjorie Merriweather Post. by Nancy Rubin. Illustrated. 445 Pp. New York: Villard Books. $27.50." New York Times (1923-), Feb 12, 1995. 1, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/rich-little-girl/docview/109398561/se-2.

“Hillwood Home | Hillwood Estate, Museum and Garden.” n.d. Hillwoodmuseum.org. https://hillwoodmuseum.org/estate.‌

Hoover, Gary. 2020. “Forgotten Giant: General Foods.” Business History - the American Business History Center. October 23, 2020. https://americanbusinesshistory.org/forgotten-giant-general-foods/.

‌"Invests $10,000,000 in General Foods: Postum Reveals Transaction in Application to List 150,000 Additional Shares. Recapitalization Planned New Concern’s Preferred Stock to Be Eliminated--Exchange Admits Other Securities to Eliminate Preferred Stock. Postum’s Interest Explained." New York Times (1923-), Jun 13, 1929: 40. https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/invests-10-000-general-foods/docview/105023015/se-2.

Luongo, Michael. “A Winter’s Tale: A Deep Dive into an Obscure Archive Reveals the Ironic History of Mar-a-Lago.” Smithsonian 48, no. 7 (November 2017): 11–13. https://search.ebscohost.com/login.aspx?direct=true&db=31h&AN=126085990&site=ehost-live&scope=site.

“Marjorie Merriweather Post: The Founder of Post Consumer Brands.” n.d. Post Consumer Brands. https://www.postconsumerbrands.com/news/marjorie-post/.

‌"Mrs. Post Will Donate Estate to Smithsonian." New York Times (1923-), Jan 18, 1969. 13, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/mrs-post-will-donate-estate-smithsonian/docview/118492204/se-2.

"New Postum Name on Stock Board Today: $9,848,057 Semi-Annual Profits Also Reported under Title of General Foods Company." New York Times (1923-), Jul 25, 1929. 34, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/new-postum-name-on-stock-board-today/docview/104918063/se-2.

"Postum to Get Freezing Process." New York Times (1923-), May 08, 1929. 56, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/postum-get-freezing-process/docview/105025449/se-2.

"Postum Change Approved: Stockholders Vote General Foods Corporation as New Name." New York Times (1923-), Jun 28, 1929. 33, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/postum-change-approved/docview/104972083/se-2.

"Postum Co. Expands.: Arranges to Buy the Minute Tapioca Co. of Massachusetts." New York Times (1923-), Sep 28, 1926. 35, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/postum-co-expands/docview/103681807/se-2.

"Postum Confirms Deal.: All Capital Stock of Calumet Baking Powder Acquired." New York Times (1923-), Sep 13, 1928. 47, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/postum-confirms-deal/docview/104464613/se-2.

"Postum Stock Increased: Shareholders Also Approve Purchase of Certo Corporation." New York Times (1923-), Mar 14, 1929. 40, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/postum-stock-increased/docview/104802050/se-2.

"Report $45,000,000 Deal.: Paper Says Cheek-Neal Coffee Company Is Sold to Postum." New York Times (1923-), Jun 02, 1928, pp. 3. ProQuest Historical Newspapers: The New York Times with Index, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/reports-45-000-deal/docview/104556528/se-2.

Special to The New York Times. "E.F. Huttons Give Circus in Florida: Entertain Several Hundred Friends with Show on Palm Beach Estate. John Ringling Lends Band Real Freaks on Exhibition in Side Show--Audience Treated to Thrilling Stunts. Strassburgers Entertain. Presentation of Flags." New York Times (1923-), Mar 12, 1929. 32, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/e-f-huttons-give-circus-florida/docview/105033094/se-2

Special to The New York Times. "Mrs. Marjorie Merriweather Post is Dead at 86: A Rich Working Woman Homes Filled with Antiques Lessons from Father First Married at 18 First Home Too Small Three Rules for Guests." New York Times (1923-), Sep 13, 1973. 50, https://go.openathens.net/redirector/liberty.edu?url=https://www.proquest.com/newspapers/mrs-marjorie-merriweather-post-is-dead-at-86/docview/119816538/se-2.

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[1] Gary Hoover, “Forgotten Giant: General Foods,” Business History - the American Business History Center, October 23, 2020, https://americanbusinesshistory.org/forgotten-giant-general-foods/.‌

[2] Maureen Dowd, "Rich Little Rich Girl: Marjorie Merriweather Post Inherited a Cereal Fortune, Married Four Times and Knew how to Enjoy Herself. American Empress: The Life and Times of Marjorie Merriweather Post. by Nancy Rubin. Illustrated. 445 Pp. New York: Villard Books. $27.50," New York Times (1923-), Feb 12, 1995.

[3] "Invests $10,000,000 in General Foods: Postum Reveals Transaction in Application to List 150,000 Additional Shares. Recapitalization Planned New Concern’s Preferred Stock to Be Eliminated--Exchange Admits Other Securities to Eliminate Preferred Stock. Postum’s Interest Explained," New York Times (1923-), Jun 13, 1929: 40.

[4] "Postum Stock Increased: Shareholders Also Approve Purchase of Certo Corporation," New York Times (1923-), Mar 14, 1929. 40; "Postum Confirms Deal.: All Capital Stock of Calumet Baking Powder Acquired," New York Times (1923-), Sep 13, 1928. 47; "Postum Co. Expands.: Arranges to Buy the Minute Tapioca Co. of Massachusetts." New York Times (1923-), Sep 28, 1926. 35; "Postum to Get Freezing Process." New York Times (1923-), May 08, 1929. 56.

[5] Gary Hoover, “Forgotten Giant: General Foods,” Business History - the American Business History Center, October 23, 2020, https://americanbusinesshistory.org/forgotten-giant-general-foods/; "Report $45,000,000 Deal.: Paper Says Cheek-Neal Coffee Company Is Sold to Postum." New York Times (1923-), Jun 02, 1928, pp. 3.

[6] "Postum Change Approved: Stockholders Vote General Foods Corporation as New Name," New York Times (1923-), Jun 28, 1929. 33.

[7] "New Postum Name on Stock Board Today: $9,848,057 Semi-Annual Profits Also Reported under Title of General Foods Company." New York Times (1923-), Jul 25, 1929. 34.

[8] “Marjorie Merriweather Post: The Founder of Post Consumer Brands.” n.d. Post Consumer Brands. https://www.postconsumerbrands.com/news/marjorie-post/.‌

[9] Gary Hoover, “Forgotten Giant: General Foods,” Business History - the American Business History Center, October 23, 2020, https://americanbusinesshistory.org/forgotten-giant-general-foods/.‌

[10] Special to The New York Times. "E.F. Huttons Give Circus in Florida: Entertain Several Hundred Friends with Show on Palm Beach Estate. John Ringling Lends Band Real Freaks on Exhibition in Side Show--Audience Treated to Thrilling Stunts. Strassburgers Entertain. Presentation of Flags." New York Times (1923-), Mar 12, 1929. 32,

[11] "Mrs. Post Will Donate Estate to Smithsonian." New York Times (1923-), Jan 18, 1969, 13; Linda Charlton, Special to The New York Times. "Saddened Smithsonian Returns Gift of Estate." New York Times (1923-), Apr 30, 1976, 50. 

[12] “Hillwood Home | Hillwood Estate, Museum and Garden.” n.d. Hillwoodmuseum.org. https://hillwoodmuseum.org/estate.‌

[13] “Marjorie Merriweather Post: The Founder of Post Consumer Brands.” n.d. Post Consumer Brands. https://www.postconsumerbrands.com/news/marjorie-post/.

[14] Baltimore Heritage, “Five Minute Histories: Merriweather Post Pavilion,” YouTube, September 6, 2023, https://www.youtube.com/watch?v=iibbdVCYvgc.‌