William Lewis Moody Jr.

William Lewis Moody Jr.
Born William Lewis Moody Jr.
(1865-01-25)January 25, 1865
Fairfield, Texas, USA
Died July 21, 1954(1954-07-21) (aged 89)
Galveston, Texas, U.S.
Resting place Galveston, Texas, U.S.
29°16′52″N 94°49′33″W / 29.28111°N 94.82583°W / 29.28111; -94.82583
Citizenship United States
Education Virginia Military Institute
Alma mater University of Texas at Austin
Occupation Insurance and banking executive
Years active 1886–1954
Known for Financial and philanthropic endeavors
Predecessor William Lewis Moody, Sr.
Successor Mary Moody Northen
Political party Democratic
Religion Methodist
Spouse(s) Libbie Shearn Rice Moody
Children William Lewis Moody, III
Shearn Moody Sr.
Mary Moody Northen
Libbie Moody Thompson
Parent(s) Pherabe Elizabeth (Bradley)
William Lewis Moody, Sr.
Relatives Shearn Moody, Jr. (Grandson)

William Lewis Moody Jr. (January 25, 1865 – July 21, 1954)[1][2][3] was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance company, and one of the largest charitable foundations in the United States.[4] Moody was active in the day-to-day operations of his companies until two days before his death.[3]

Personal life

Moody’s parents were Col. William Lewis Moody and Pherabe Elizabeth Moody, née Bradley.[1][3] Moody was born on January 25, 1865 in Fairfield, Texas.[3] After attending boarding schools in Virginia,[3] he attended Virginia Military Institute in Lexington, Virginia.[2][3] Following that, he studied law at the University of Texas before going to work at his father's cotton business in Galveston in 1886.[3]

On August 26, 1890,[2] Moody married Libbie Rice Shearn.[1] They had four children:[1][5]Mary Elizabeth (who married Edwin Clyde Northen[6]), William Lewis III, Shearn, and Libbie (who married Clark W. Thompson). Their family home, "The Moody Mansion", is now a museum.[7] Mary later took over many of the family businesses after Moody's death.[8]

Business interests

In 1889, Moody set up the private bank W. L. Moody and Company,.[1] In 1905, he founded American National Insurance Company,[1][5][9] which, at the time of Moody's death, was the biggest one west of the Mississippi River.[10]

In 1907, Moody founded City National Bank.[11] He served as President of the bank until he died.[11] In 1953, the bank’s name was changed to Moody National Bank in his honor.[1]

Moody's business interests also included ventures outside of the financial arena. In 1923 Moody purchased the Galveston Daily News, the oldest newspaper in Texas, from Alfred H. Belo. He later expanded his media interests by acquiring the Galveston Tribune.[3]

In 1930, Moody founded the National Hotel Company.[1] His holdings at one time included the Galvez Hotel in Galveston and the Menger Hotel in San Antonio, Texas. In 1931, the company took control of a financially troubled Conrad Hilton's hotels, hiring Hilton to help manage the company. The merger later ended with Hilton taking back some of the hotels he had brought to the group.[12]

Legacy

In 1942, Moody and his wife set up the Moody Foundation, to which Moody's estate was transferred after his death.[1][5] The Foundation awards grants to various civic and environmental causes in Texas. The Moodys' daughter Mary helped run the foundation from its inception until her death in 1986, and members of the family are still involved.[5] Today the Moody Foundation has grown into a $1.197 billion USD charitable foundation, making grants throughout the state of Texas.[4]

The Moody Coliseum in University Park, Texas as well as Moody Towers on the University of Houston campus is named after Moody. Texas A&M University Press publishes a series of books called the "W. L. Moody Jr. Natural History Series". At Rice University, one of the endowed chairs is for the W. L. Moody Jr. Professor of Mathematics, currently held by Robert Hardt; past holders include Morton L. Curtis.

On October 21, 2013, it was announced that the foundation gave a $50 million gift to the University of Texas at Austin to name the college of communication the Moody College of Communication[13]

See also

Notes

  1. 1 2 3 4 5 6 7 8 9 "William Lewis Moody Jr.". Historical Marker Society of America. Retrieved June 22, 2009.
  2. 1 2 3 Who Was Who In America, Vol. 3, 1951-1960. Library of Congress number 43-3789.
  3. 1 2 3 4 5 6 7 8 "Moody, William Lewis Jr.". The Handbook of Texas Online. Texas State Historical Association. Retrieved June 22, 2009.
  4. 1 2 Foundation Center, Top 100 Assets
  5. 1 2 3 4 "Foundation History". The Moody Foundation. Retrieved June 22, 2009.
  6. ↑ "Mary Elizabeth Moody Northen". The Handbook of Texas Online. Texas State Historical Association. Retrieved June 24, 2009.
  7. ↑ "The Moody Mansion". The Moody Mansion. Retrieved June 22, 2009.
  8. ↑ "Mary Moody Northen, Incorporated". The Handbook of Texas Online. Texas State Historical Association. Retrieved June 24, 2009.
  9. ↑ "American National Insurance Company". The Handbook of Texas Online. Texas State Historical Association. Retrieved June 24, 2009.
  10. ↑ "Executive Suite". Time, Inc. September 6, 1954. Retrieved June 24, 2009.
  11. 1 2 "About Moody National Bank". Moody National Bank. Retrieved June 22, 2009.
  12. ↑ "Hilton Hotels Corporation". The Handbook of Texas Online. Texas State Historical Association. Retrieved June 24, 2009.
  13. ↑ http://www.utexas.edu/news/2013/10/21/moody-foundation-invests-in-college-of-communication/
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