Samuel Newhouse
Samuel Newhouse | |
|---|---|
| Born | Template:Birth date New York City, U.S. |
| Died | September 22, 1930 (aged 76) |
| Occupation(s) | Businessman, mining industry leader |
| Known for | Development of Bingham Canyon Mine, founding the community of Newhouse, building Salt Lake City's first skyscrapers |
Samuel Newhouse (October 18, 1853 – September 22, 1930) was a prominent American businessman and leader in the mining industry.
Life and career
Newhouse was born in New York City to Jewish immigrants from Europe. He pursued legal studies and practiced law in Pennsylvania before relocating to Colorado in 1879. Upon settling in Leadville, he launched a career in the freight transportation sector.
In 1883, he wed Ida Stingly, who was then 16 years old. While overseeing hotel operations in Leadville, he invested in mining properties near Ouray, Colorado, which he later sold for several million dollars. Subsequently, he moved to Denver, where he became an active speculator and promoter, cultivating extensive networks across the eastern United States and Europe.
By 1896, Newhouse had shifted his focus to Utah, collaborating with Thomas Weir to attract British capital for the developing copper mining ventures at Bingham Canyon. This project ultimately grew into the significant Bingham Canyon Mine. He also committed approximately $2 million toward silver mining enterprises near Beaver, Utah, where he established the mine, milling facilities, and the community of Newhouse, which bears his name. Moreover, he contributed significantly to the construction of the Newhouse Tunnel (currently known as the Argo Tunnel) designed for mine water drainage in Idaho Springs, Colorado.
Although Newhouse owned homes on Long Island, in London, and a French chateau, his preferred residence was in Salt Lake City. There, he developed an extensive downtown area with the intention of relocating the city’s commercial hub southward from Temple Square. He was responsible for erecting Salt Lake City's first skyscrapers—the Boston and Newhouse buildings—each rising eleven stories.
At one time, Newhouse held ownership of the plot that would later host New York City's iconic Flatiron Building. Nevertheless, his financial empire ultimately collapsed in 1916.