| (1834
- 1914) |
| Inducted: |
1978 |
| Region: |
MidWest |
| Industry: |
Manufacturing
|
|
Frederick Weyerhaeuser and his brother-in-law bought the sawmill they were working at in Rock Island, Illinois after it failed during the 1857 panic. Frederick’s partner ran the mill while Weyerhaeuser took longs treks to buy logs and tracts of land. These extended trips made him an expert in estimating timber values. He was elected president of the Mississippi River Logging Co. because of his expertise. Weyerhaeuser moved west to Minnesota with the industry. In 1893 he bought a home next door to railroad magnate James J. Hill. When Hill’s Northern Pacific needed cash, Frederick purchased 900,000 acres of land from Hill in one of the biggest land deals in U.S. history. The land is worth billions today. Weyerhaeuser Co. still sells more lumber than anyone in the world. |
