Andrew William Mellon 1855-1937, American financier, industrialist, and public official, b. Pittsburgh. He studied at the Western Univ. of Pennsylvania (now the Univ. of Pittsburgh), but he left college to organize a lumber business with his brother, Richard B. Mellon. Soon they joined interests with their father, Thomas Mellon, a successful Pittsburgh banker and lawyer, who had helped Henry C. Frick to expand his holdings in the coke industry. When Thomas Mellon retired (1886), the sons took over the banking firm of Thomas Mellon and Sons. In 1889, Andrew Mellon led in establishing the Union Trust Company of Pittsburgh—later to become one of the larger financial institutions in the United States and merge with the Mellon National Bank (and ultimately become Mellon Financial Corporation)—and the Union Savings Bank was created as a subsidiary firm. Meanwhile Andrew Mellon expanded his holdings in key American industries and secured large interests in the Gulf Oil Company, the American Locomotive Company, the Pittsburgh Coal Company, and in hydroelectric, bridge-building, public-utility, steel, insurance, and traction companies. He also played an important role in originating the huge Aluminum Company of America (Alcoa). Mellon resigned (1921) as president of the Mellon National Bank to become U.S. secretary of the treasury and held that cabinet post until 1932 under Presidents Harding, Coolidge, and Hoover. As secretary, Mellon worked for a downward revision...
Andrew William Mellon 1855-1937, American financier, industrialist, and public official, b. Pittsburgh. He studied at the Western Univ. of Pennsylvania (now the Univ. of Pittsburgh), but he left college to organize a lumber business with his brother, Richard B. Mellon. Soon they joined interests with their father, Thomas Mellon, a successful Pittsburgh banker and lawyer, who had helped Henry C. Frick to expand his holdings in the coke industry. When Thomas Mellon retired (1886), the sons took over the banking firm of Thomas Mellon and Sons. In 1889, Andrew Mellon led in establishing the Union Trust Company of Pittsburgh—later to become one of the larger financial institutions in the United States and merge with the Mellon National Bank (and ultimately become Mellon Financial Corporation)—and the Union Savings Bank was created as a subsidiary firm. Meanwhile Andrew Mellon expanded his holdings in key American industries and secured large interests in the Gulf Oil Company, the American Locomotive Company, the Pittsburgh Coal Company, and in hydroelectric, bridge-building, public-utility, steel, insurance, and traction companies. He also played an important role in originating the huge Aluminum Company of America (Alcoa). Mellon resigned (1921) as president of the Mellon National Bank to become U.S. secretary of the treasury and held that cabinet post until 1932 under Presidents Harding, Coolidge, and Hoover. As secretary, Mellon worked for a downward revision...
