John E. Burton
John Edgar Burton | |
|---|---|
| Born | Error: Invalid birth date for calculating age New Hartford, New York, U.S. |
| Died | August 13, 1930 (aged 82) Madison, Wisconsin, U.S. |
| Occupation(s) | Entrepreneur, financier, mining executive |
| Years active | 1868–early 1900s |
| Known for | Mining operations in Gogebic Range, Alaska's Seward Peninsula; real estate investments; coin collection |
John Edgar Burton (October 19, 1847 – August 13, 1930) was a prominent American entrepreneur and financier. His mining operations spanned the Gogebic Range in Michigan and Wisconsin, as well as locations in Alaska’s Seward Peninsula, California, Colorado, and Mexico. Beyond mining, Burton made significant investments in real estate and various industrial sectors.
Early life
John Edgar Burton was born in New Hartford, New York, to John Burton Sr., a shoemaker who emigrated from England, and Ruth Janette (Allen) Burton. He initially trained under his father before graduating with distinction from Whitestown Seminary in 1868. He continued his studies at Cazenovia Seminary, where he earned first place in oratory competitions.
Career
Burton’s professional journey began in education as a teacher and principal in Illinois and Wisconsin between 1868 and 1872. He then established the Geneva Herald newspaper, managing its publication until 1877. Following this period, from 1877 to 1881, he engaged in real estate ventures and manufacturing enterprises in Lake Geneva.
In 1881, Burton took on the role of general agent and manager for Wisconsin at the Equitable Life Assurance Society of New York, later broadening his responsibilities to include Michigan and Minnesota. He is credited with issuing Wisconsin’s inaugural $100,000 insurance policy and amassed over $6.5 million in premiums within four years.
Choosing to resign in 1885 to dedicate himself to mining investments, Burton became a principal supporter of development in the Gogebic Range. He played a major role in building Hurley, Wisconsin’s infrastructure by establishing the Burton House hotel, the Iron Exchange Bank, and a foundry. At that time, he owned seven mines employing upwards of 1,000 workers. By 1888, his wealth had reached millionaire status; however, setbacks due to copper mine failures during 1888–1889 caused many investors to withdraw their support.
Following these challenges, Burton diversified his portfolio by investing $140,000 into a manufacturing plant in Chicago and expanding into livestock and other industries. In Lake Geneva, he controlled approximately one-sixth of the town’s real estate alongside holdings such as the First National Bank. His ventures also included financing the Aguan Navigation and Improvement Company, which aimed to construct a canal connecting Honduras’s Aguán River with the Caribbean Sea to facilitate mahogany trade. Furthermore, he founded the American Fiber Company and pursued business opportunities in Cuba.
During the 1890s, Burton developed a crystal mine located in Calaveras County, California; managed operations at the Green Mountain Hydraulic gold mine; and oversaw silver mining activities in Colorado and Mexico.
Starting in 1904, his focus shifted toward tin and gold mining on Alaska’s Seward Peninsula where he consolidated several existing tin mining enterprises.
Other interests
In 1873, Burton was elected as town clerk of Lake Geneva.
A passionate collector, he assembled one of the most extensive coin collections in the United States and was affiliated with the American Numismatic Association. Additionally, Burton curated a private library containing 26,000 volumes—including 3,000 dedicated to Abraham Lincoln—which by 1915 represented the largest Lincolniana collection globally. Among his prized possessions was a signed edition of the Emancipation Proclamation. In November 1915, these collections were auctioned through Anderson Galleries in New York City.
Burton held membership as a Royal Arch Mason and served as vice president of the Wisconsin Historical Society.
Personal life
On December 7, 1869, Burton wed Lucretia Delphine Johnson from Killawag, New York. The couple raised four children and made their home in Lake Geneva, Wisconsin.
Burton died in Madison, Wisconsin, on August 13, 1930.
External links
- John Edgar Burton Papers finding aid – American Heritage Center, University of Wyoming