Philip Danforth Armour
Philip Danforth Armour, born May sixteen, 1832, Stockbridge, New York, U.S.—died January 6, 1901, Chicago, Illinois, American entrepreneur and innovator whose large Armour & Company businesses helped make Chicago the meatpacking capital of the world.
Armour earned his first capital in California mining endeavors and cofounded a grain-dealing and meatpacking enterprise in Milwaukee, Wisconsin, in 1863. Anticipating a sharp decline in pork charges near the stop of the American Civil War 1861–sixty five, he made almost $2 million shopping for red meat at depressed prices and promoting it for a long way more in New York City. He have become concerned in his brother Herman Ossian Armour’s grain-commission residence in Milwaukee, to which he added a pork-packing plant in 1868. During the subsequent decade the family’s pastimes were focused in Chicago, and Philip Armour assumed leadership of the firm in 1875. He originated some of slaughtering strategies, the use of waste products, and the sale of canned meat. When refrigeration become introduced in the Eighties, he set up dispensing vegetation in Eastern cities and began exporting meat products to Europe.
In his later years Armour employed part of his wealth, predicted at $50 million, for philanthropic functions, founding the Armour Mission opened in 1886 and funded in element by using a bequest from his overdue brother Joseph F. Armour and the Armour Institute of Technology based in 1890, later the Illinois Institute of Technology, both in Chicago. After his loss of life, Armour’s company endured to prosper under the management of his son, Jonathan Ogden Armour, at whose retirement in 1923 the organization became the largest meatpacking company within the world. Although the organization was offered in 1970, Armour remained a leading American emblem of canned and cured meat products.