The History of Marshall Field

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The American Merchant, Marshall Field, 1834-1906, grew up in Conway, Massachusetts.  As an apprentice at a general store in Pittsfield, Massachusetts Field learned much about the business world.  In 1856 he decided to try his luckin Chicago and became a clerk for a dry-goods store located on Lake Street, which he later became a junior partner in. After nine years of saving his four hundred dollar a year salary, he had $30,000 and decided to start his own business.

A few years later in 1865 he went in to business with Potter Palmer and becamehis partner along with Levi Leiter and started what is now known as today Marshall Field and Company.  They were able to build up business due to attractive window displays as well as money-back guarantees.  Furthermore, they learned the names of their repeat customers to establish a good owner and customer relationship.  Also, doormen would help these customers through the doorway inside the store.  Field is known for originating the motto that “ customer is always right”.

As Potter grew older his health began to fade away and Field bought him out and eventually bought out Leiter.  Potter would later persuade Field to move his business to State Street and he did.  Once he did that, Field did much more advertising.  Marshall Field’s fortune would eventually rise to $120 million. Even though he was rich, he was not necessarily happy.  His family would not live with him.  His wife, daughter, and son lived far away from him.  His son would die as a result of a gunshot wound and was said to be an accident in the family. Others however thought it was a suicide.

Marshall Field made many notable donations in his lifetime.  He gave ten acres of land to the University of Chicago as well as $350,000 in other donations. He also gave $8 million for the establishment of the Field Museum of Natural History. Before he died Marshall Field was worth an estimated $100 million.