Week 42: E. W. Edwards
In 1937, during the depths of the Great Depression, Dr. Alexander J. Chandler and the Chandler Improvement Company lost control of the San Marcos Hotel over a mortgage payment they could not make. The Pacific Mutual Insurance Company foreclosed on the Hotel, casting a shadow of doubt over its future.
Into this uncertainty stepped Edward W. Edwards, a wealthy visitor who had spent years as a guest of the hotel. Edwards was the president of Fifth Third Bank, sat on the board of the Cincinnati Transit Commission, and was the founder of the Edwards Manufacturing Company. Edwards founded his company in Cincinnati in 1901. He quickly grew it into the largest manufacturer of sheet metal construction materials in the country, with offices in Cincinnati, New York, and San Francisco.
Edwards first visited the San Marcos during the 1925-26 winter season. He stayed at the hotel every year thereafter. Then in 1929 he purchased a lot along the fairway of the 18th hole of the golf course and built a house. The Chandler Arizonan, quite dramatically, glowed with pleasure and pride when Edwards announced his intention to build here, exclaiming: “With the world’s capitals and the beauty spots of two hemispheres to choose from in the selection of a winter home, Mr. Edward William Edwards, Chevalier of the Legion of Honor of France, American steel magnate, art connoisseur and patron, and organizer and director of an imposing array of great American industries, has set the seal of his approval upon Chandler.”
The Arizonan was on to something in its description of Edwards. He was a multi-millionaire of his own making. Edwards had a love of art, and competed with the likes of Carnegie and Rockefeller in collecting the world’s finest artworks. He once went on a six week world tour with Monet. He was also an avid golfer, who counted Bobby Jones among his friends and golf buddies, and had a deep appreciation for the San Marcos’ magnificent grass course.
When the San Marcos was faced with its financial problems, Edwards stepped in and purchased it for $75,000. To this day, Edwards’ family is unsure why he invested in the troubled hotel, though some suspect that it was his love of golf that led him to purchase the San Marcos. In addition to feeding his golf obsession, the hotel also gave him a place to display some of his art. Soon after he purchased it, world class paintings and tapestries covered the walls of the San Marcos.
Besides saving the San Marcos, the best thing Edwards ever did for the hotel was to hire John Quarty as the general manager. He struck a deal with Quarty, who had managed hotels in New York City and Colorado Springs, where Quarty and his family would receive no pay but room and board. At the end of each season, if the hotel had made money Quarty would be given his portion in ownership shares.
Edwards suffered from dementia towards the end of his life. He passed away in 1956. His wife and daughter continued to own the San Marcos until Quarty purchased the remaining ownership shares in 1961.