24 Facts About Sewell Avery

Sewell Lee Avery was an American businessman who achieved early prominence in gypsum mining and became president of the United States Gypsum Company.

Sewell Avery was active in Chicago civil activities, for instance, supporting the Commercial Club's plan for a Museum of Science and Industry and serving as its first president.

Sewell Avery was prominent in social circles, and in 1912 founded the private Lincoln Park Gun Club with Oscar F Mayer, Philip K Wrigley, and other prominent Chicagoans.

Sewell Lee Avery was born in Saginaw, Michigan as the son of Ellen Lee and Waldo A Avery, who were a leading business family of the region, with interests in lumber, banking and mining.

Sewell Avery attended public schools in Saginaw and Detroit, and the Michigan Military Academy.

Sewell Avery earned a bachelor of laws degree in 1894 from the University of Michigan.

Sewell Avery changed the name to Alabaster Company, after the town, because he liked the sound of it.

Sewell Avery kept that position until 1936, managing the company through extended growth.

Sewell Avery began as chairman by cost cutting and closing stores, replacing catalog managers with experienced chain-store managers, and reducing lines that were losing money.

Sewell Avery was admired; an employee later said of this time:.

Sewell Avery turned the place inside out, even to the fixtures and decorations.

Sewell Avery followed up on his early support and served as the first president of the Museum of Science and Industry in Chicago.

Sewell Avery was a financier of the American Liberty League and a national adviser for one of its front organizations, the Crusaders.

Sewell Avery gave generously to the Church League of America.

Sewell Avery was one of many successful businessmen who did not favor the New Deal of President Franklin D Roosevelt.

Sewell Avery endowed several professorial chairs at the University of Chicago, and he financially supported research and expeditions of the Field Museum of Natural History.

Sewell Avery resisted signing a contract after a union had won representation for 7,000 of Montgomery Ward's employees until twice ordered by Roosevelt.

When Sewell Avery refused to settle a strike in 1944, endangering the delivery of essential goods, Roosevelt's administration used emergency measures to remove him from office and temporarily seize the company; in April 1944 two soldiers had to pick him up by an arm each and carry him out of his office.

Soon back in charge of the retail company, Sewell Avery read widely on business.

Sewell Avery continued his bearish position under the Harry S Truman and Dwight D Eisenhower administrations.

Unlike Sears, Sewell Avery resisted pension plans, insurance and profit sharing with employees; he refused to spend money on company expansion.

Soon Sears far outperformed Montgomery Ward; by 1951 it had more than double the business volume and had surpassed Montgomery Ward in retail stores, while Sewell Avery was prepared to weather a depression.

In 1955, Sewell Avery retired with a fortune estimated at $327 million.

Sewell Avery died in 1960, leaving an estate of $20 million to two daughters and seven grandchildren, according to filed inheritance tax returns.