Benjamin Franklin Allen
Benjamin Franklin Allen | |
|---|---|
 Allen in 1908 | |
| Member of the Iowa Senate from the 29th district | |
| In office 1870–1874 | |
| Personal details | |
| Born | April 27, 1829 |
| Died | April 14, 1914 (aged 84) |
| Party | Republican |
| Spouse | Arathusa West |
| Children | 3 |
| Occupation | Politician, businessman |
Benjamin Franklin Allen[a] (April 27, 1829 – April 14, 1914) was a member of Iowa's 29th Senate district, and Iowa's first millionaire. Allen owned multiple companies in Des Moines, then expanded to railroad companies and banks outside of Iowa. Most of his fortune was lost after investing the majority of his wealth into Cook County National Bank in Chicago, which later crashed, causing him to move to California and grow fruit.
Early life
[edit]Allen was born in Salem, Indiana. He lived with his grandfather in Ohio until he turned 17 when he enlisted in military service.[1] Allen was a teamster in Mexico during the Mexican–American War.[2] He travelled to Iowa in 1848 at 19 years old to collect an inheritance from his uncle, Captain James Allen, who was responsible for establishing Fort Des Moines.[1]
Career
[edit]When Allen arrived in Iowa, he started making money as a merchant.[3] In 1850, he started a sawmill and opened a general store.[4] In 1855, Allen started banking in Des Moines, buying 34 acres (14 ha) of land, and creating the State National Bank of Des Moines.[1][3]
Allen was elected to the Des Moines City Council in 1860. Allen would eventually go on to serve as a senator in the Iowa state legislature, representing Polk County during the thirteenth and fourteenth general assemblies.[1]
In 1865, Allen organized the Rock Island Railroad. Allen bought property along the proposed route west to the Missouri River, established a land company, and plotted and sold town sites.[1] Allen also organized multiple energy companies. He started the first gas company in Des Moines, which was later abandoned. He then later organized a coal company which was soon cleaned out.[5] The same year he also started an insurance company with E. J. Ingersoll.[6] In 1871, Allen organized the Des Moines Water Company.[7]
In 1873, Allen and his family moved to Chicago after buying Cook County National Bank. Allen was heavily in debt and wanted use of the bank's money to avoid prison.[2] Allen put most of his fortune into funding the bank, but in 1876, the bank crashed. In the span of 8 years, 2 criminal trials took place for fraud, with Allen being able to escape conviction.[1] Allen sold the rest of his fortunes and moved to Leadville, Colorado to try starting up a store, but failed.[2] Allen then moved to California to grow fruit.[8] He later worked for the California government as a forestry supervisor.[4]
Personal life and death
[edit]
In 1854, Allen married Arathusa West and had 3 children, a daughter, and two sons named Frank and Harry. In 1866, Allen started construction of Terrace Hill. The house took 2 years and $250,000 to build. In 1869, Allen hosted a housewarming party, inviting over 700 guests and spending $8,000 ($180,000 today) on food and flowers. After the Cook County National Bank collapsed, Allen was able to keep Terrace Hill until 1884, when the property was purchased by Frederick M. Hubble for $60,000.[1] Allen died on April 14, 1914, in Hollywood, California.[3]
Notes
[edit]- ↑ Also written as Benjamin F. Allen or B. F. Allen
References
[edit]- 1 2 3 4 5 6 7 State of Iowa.
- 1 2 3 Wiggins.
- 1 2 3 Parker, Henigbaum, Quigley.
- 1 2 The Annals of Iowa, 1920.
- ↑ Andrews (1908), p. 58, 59.
- ↑ Andrews (1908), p. 59.
- ↑ Andrews (1908), p. 64.
- ↑ Andrews (1908), p. 65.
Sources
[edit]- Andrews, Lorenzo F. (1908). Pioneers of Polk County, Iowa: And Reminiscences of Early Days. Baker-Trisler Company.
- "Benjamin Franklin Allen". The Annals of Iowa. 12 (6): 473. 1920. doi:10.17077/0003-4827.4150.
- "Benjamin Franklin Allen (1829-1914)". State of Iowa. Retrieved 2026-07-12.
- Parker, Addison M.; Henigbaum, Fred G.; Quigley, Robert. "Senator Benjamin Franklin Allen". The Iowa Legislature. Archived from the original on 2022-11-08. Retrieved 2026-07-12.
- Wiggins, David. "Allen, Benjamin Franklin "Frank"". The Biographical Dictionary of Iowa. University of Iowa.
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