Justin Potter
Justin Smith "Jet" Potter | |
|---|---|
| Born | 1898 Liberty, Tennessee, U.S. |
| Died | 1961 |
| Occupation(s) | Entrepreneur, coal industry executive |
| Years active | 1920–1961 |
| Known for | Coal mining, anti-union activities, opposition to Tennessee Valley Authority |
Justin Smith "Jet" Potter (1898–1961) was a prominent American entrepreneur based in Tennessee, whose business ventures spanned coal mining and distribution in Kentucky, chemical production, insurance, banking, and media ownership. Known for his staunch anti-union stance, he employed armed personnel to prevent union activities within his coal operations and was an outspoken critic of the Tennessee Valley Authority.
Early life
Potter was born in 1898 in Liberty, Tennessee and relocated during childhood to Nashville, Tennessee. His father worked in banking. His brother, Edward Potter Jr., established the Commerce Union Bank in Nashville, an institution that eventually merged into Bank of America.
Career
In 1920, Potter launched the Nashville Coal Co., which by 1955 had become the tenth largest coal producer in the United States. That same year, he sold the company to businessman Cyrus Eaton for $18 million. Three years later, in 1958, he acquired a majority stake and assumed the presidency of Virginia-Carolina Chemical Co.. Potter also held a board position with Cherokee Insurance Corporation.
As President of Crescent Coal Co., headquartered in Central City, Kentucky, Potter controlled over 100,000 acres of coal-bearing land across Western Kentucky, including a significant mine near Uniontown, Kentucky. He enforced rigorous anti-union policies and openly denounced union leader John L. Lewis. His approach included employing armed guards to bar union organizers from his mining sites. Additionally, he mentored notable coal industry leader Joe C. Davis Jr..
Potter was a fierce opponent of the Tennessee Valley Authority (TVA), actively working to challenge its political backers such as Estes Kefauver and Albert Gore Sr.. As majority owner of Farm and Ranch Magazine from 1956 to 1959, he utilized the platform to criticize the TVA as a "socialistic" initiative and placed full-page advertisements in the Chicago Tribune branding it a "communist rathole."
By the conclusion of his career, Potter's fortune was estimated at approximately $200 million, ranking him among the wealthiest individuals in the Southern United States.
Personal life
He was married to Valere (Blair) Potter, a philanthropist who co-founded the Peabody Preparatory School of Musical Arts in 1964, which later became the Blair School of Music at Vanderbilt University. The Valere Blair Potter Chair at the Blair School and the Valere Potter Scholarship Fund at the Vanderbilt University School of Nursing bear her name.
During the 1950s, Potter experienced a stroke and ultimately passed away from cancer in December 1961.
Legacy
Facilities named in his honor include the Boy Scouts center located at Woodmont Boulevard and Hillsboro Road in Nashville as well as the library in Smithville, Tennessee.