Hetty Green The Witch of Wall Street

1
Hetty GreenThe Witch of Wall Street

• Liz Bremer
• FNCE 306
• October 2007

2
Agenda

• Early Years
• Aunt Sylvias Will
• Personal Info
• Philosophy on Money
• Collapse of Cisco Son
• Battles with Nemesis
• Later Years
• Legacy

3
Early Years

• Born November 21st, 1834
• Hetty Howland Robinson
• Raised in New Bedford, MA
• Prosperous Whaling Community
• Isaac Howland Jr. and Company
• Quaker Upbringing
• Significant impact
• Father was predominant figure
• Edward Black Hawk Robinson

4
Aunt Sylvias Will

• Howland Family Fortune
• Hettys paranoia
• Sylvia Howland died July 2nd, 1865
• Hetty contested Sylvias will
• Forgery
• Famous Second Page
• Research and Testimony
• Decision Second Will Stands

5
Personal Info

• Married Edward Henry Green on July 11th, 1867
• Moved to England
• Had two children
• Ned Edward Howland Robinson Green
• Sylvia Hetty Sylvia Ann Howland Green
• Moved to Bellows Falls, VT
• After January 1885, lived nowhere for any
  significant length of time

6
Philosophy on Money

• Control of Fortune
• Never controlled entire fortune
• Primary Obsession
• Investments
• Buy Low
• Sell High
• Do Not Panic
• No Excessive Spending
• Housing
• Medical Treatments

7
Collapse of Cisco Son

• Houston Texas Central Railroad defaults
• John J. Cisco Son collapses
• Hetty was the largest depositor
• Edward was the largest debtor
• Hetty moves to New York
• Separates from Edward Green
• Takes on Lewis May
• May manipulates Hetty
• Legal battle ensues
• Securities and cash moved to Chemical Bank of New
  York

8
Battles with Nemesis

• Collis P. Huntington
• Houston Texas Railroad
• Blamed Huntington for Cisco Son losses
• Bondholder in Railroad
• Waco Northwestern Railroad
• Won Railroad at Auction
• Court battle over ownership of land
• California admirers
• 1900 That old devil Huntington is dead serves
  him right.

9
Later Years

• Railroads
• Texas Midland Railroad Company
• Run by Ned
• Lender
• Fair Interest Rates
• Bailed out many
• Real Estate
• Accumulated from foreclosures
• Eventually sold or long-term leased
• Celebrity Status
• Witch of Wall Street
• Never Retired

10
Legacy

• Died July 3rd, 1916
• died of apoplexy in an argument over the virtues
  of skimmed milk
• Fortune valued at 100 million conservatively
• Positive media reflections upon death
• If I Were as Rich as Hetty Green
• Popular song in 1905
• 35th on list of The Wealthy 100
• Guinness Book of World Records
• Greatest Miser