Jesse Hoyt
1815 - 1882
One of Saginaw’s greatest benefactors never lived in Saginaw. He died in New York City in 1882 but his influence is still being felt and his generosity is still being enjoyed.
Jesse Hoyt was born in New York March 12, 1815, the son of James Hoyt, a wealthy merchant who educated his four sons to pursue careers in business and finance. Jesse Hoyt’s connection with Saginaw began when his father decided to back Norman Little who proposed to establish a new city in Michigan. Little had originally attempted to develop the Saginaw City area but had run into problems and animosity after the Panic of 1837. Little, with James Hoyt’s backing, moved up the river and established East Saginaw.
Meanwhile, young Jesse had joined his father’s business and eventually took over responsibility for the Saginaw property. At first glance, the modest, gentle and gentlemanly Jesse Hoyt seemed ill-suited to determine the fate of brash and brawling East Saginaw but his keen business sense, vision and imagination made him invaluable. Jesse Hoyt’s first major project was to build a plank road from East Saginaw to Flint, opening the area to the outside world. In addition, the men he sent to Michigan were well-chosen: men like Dr. Henry Potter, William Webber, Sanford Keeler and Augustus Mershon, a veritable Who’s Who of early Saginaw.
In 1854, after the death of James Hoyt, his son formed Jesse Hoyt and Company. Three years later, the company built the Bancroft House. Outsiders sneered that the hotel was far too large and elegant. A visiting Detroit newspaper man commented, “A man who would erect so fine a hotel in a swampy little valley must possess more money than brains.” But Hoyt’s faith in the future was well-placed: the town grew up to the hotel.
Hoyt engaged in many enterprises: He built the Buena Vista Block, the Exchange Block, Irving Block, Power Block and the Mayflower Mill. He promoted the flour mill by sending a ship to London to give away free bags of flour. In 1859, Hoyt organized the East Saginaw Salt Works and by 1870, there were 42 salt works.
To provide jobs—thus attracting new settlers to the area—Hoyt built a shipyard on the river and had land cleared for farming.
He was a founder of the Savings Bank of East Saginaw and was also a large stockholder in the Merchants National Bank of East Saginaw. He and a group of colleagues donated land for East Saginaw’s first school, the Academy. Later, Hoyt School occupied the site and today it is part of St. Mary’s Medical Center.
Probably Hoyt’s most important contribution to Saginaw’s growth was the building of the Flint and Pere Marquette Railroad. When the first train arrived in town, there were speeches, fanfare and brass bands, although some expressed dismay at the age of the engine which was named “The Polliwog.” “That’s no polliwog,” snorted one observer, “It’s a damned old frog!”
Hoyt later became president of the road and in 1879, when the railroad was forced into receivership by the panic of 1873, Hoyt rescued the company. As it turned out, he could have made a small fortune on a steel deal he had put together. Hoyt had contracted for steel rails to replace the old iron rails, using his own money because the F & PM was in receivership. The price of steel jumped and Hoyt could easily and quite legally have made a profit of $250,000 but he refused to take advantage of the situation. Hoyt was also instrumental in building the Pere Marquette depot which was described as a “veritable palace.”
He was responsible for the construction of other area lines: the East Saginaw and Mt. Pleasant and the Saginaw, Tuscola and Huron, which opened new territories to East Saginaw’s growing trade. Hoyt also was the principal owner of the East Saginaw Street Railroad which ran horse cars from the depot on Potter Street to Salina (now South Saginaw). Over the years, Jesse Hoyt visited East Saginaw several times and was always keenly interested in its progress.
When he died on August 14, 1882, he left the city a valuable parcel of property that is now Hoyt Park. Historian James C. Mills wrote, “He foresaw the advantage and value of free breathing and recreational places in the Saginaw of the future.” He also left the city $100,000 for a free reference library—Hoyt Library which is still a vital, much-used and much-loved part of the Saginaw scene.
However, Hoyt’s material gifts were not the most important legacy he left to Saginaw. In a time and an age when the term “robber baron” was almost a compliment and ruthlessness was the rule, Jesse Hoyt was a shining example of integrity, honesty and class.
After his death, his friend and colleague William Webber wrote, “None knew him but to love him, none named him but to praise. He was cheerful and pleasant in all his business relations and was modest and retiring almost to a fault. He never sought prominence for himself: neither rash nor timid, he was wise in counsel, prompt in action and in his official relationships always unselfishly mindful of the trust imposed in him.”