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[[top margin]] June 13'38 - [[/top margin]] THE[[cutoff]] CLARENCE H. GEIST, UTILITY LEADER, 72 Philadelphia Financier, Once Associated With Charles G. Dawes in Chicago, Dies FOUNDED TWO GOLF CLUBS Seaview at Atlantic City and Boca Raton in Florida--On Bryn Mawr College Board Special to THE NEW YORK TIMES. PHILADELPHIA, June 12.-Clarence H. Geist, public utility leader and one of Philadelphia's leading financiers, died today at his home, Launfal, in Villanova, after a short illness. Mr. Geist was president of C. H. Geist Company, Inc., with offices in the Packard Building. He was also president and director of the American Pipe and Construction Company, the Philadelphia Suburban Water Company, the Spanish River Land Company and a number of other concerns. He was a director of the United Gas Improvement Company, a member of the board of trustees of Jefferson Medical College, the board of directors of Bryn Mawr College and vice president and director of the Bryn Mawr Horse Show and County Fair. A Native of Indiana Mr. Geist was 72 years old last Jan. 19. Born in 1866 on a farm near La Porte, Ind., Mr. Geist was educated at Valparaiso Normal School and worked on his father's farm until he was 18. At that time he decided to go West and for the next four or five years he roamed the country, dealing in live stock, principally horses, and living largely in the saddle. Speaking of his early life, Mr. Geist said he returned to Chicago at that time because "no one in the West had any money, and I discovered the fact that I could not make any money where there wasn't any." He worked for the Rock Island Railroad for about a year before entering the real estate business. After spending about seven years in the real estate business, Mr. Geist became associated with former Vice President Charles G. Dawes and the latter's brother, Rufus, in the development of gas and electric utility companies. His interests in the field continued to increase for many years until in 1930 he was looked upon as the largest individual holder of public utility stocks in the country. Mr. Geist and the Dawes brothers finally sold their Midwest holdings to the Insull interests. A Follower of Golf Mr. Geist continued to increase his holdings in utility companies in the eastern part of the country. One of these was the Philadelphia Suburban Water Company, which supplies forty-nine towns in the vicinity of the city. He was believed to be the largest U. G. I. stockholder, at one time being reported to own 400,000 shares of the company's stock. In addition to his utility interests, Mr. Geist was the head of two of the best-known clubs in the country, the Seaview Golf Club at Absecon, near Atlantic City, and the Boca Raton Club at Boca Raton, Fla. Golf was the financier's favorite sport and he developed courses at the two clubs until they became nationally known. Mr. Geist founded Seaview in 1914 and Boca Raton in 1928. He was a member of the Bryn Mawr Presbyterian Church and of the following clubs: Union League, Merion Cricket, Racquet, Germantown, Philadelphia Cricket, Radnor Hunt, Art, Acorn and Wilmington Country. In 1905 he married the former Florence Hewitt of this city and came here to live. Surviving are his widow and three daughters, Mrs. Theodore C. Sheaffer of Devon, Mrs. Van Horn Ely Jr. of Bryn Mawr and Mrs. Alfred Zantzinger of Ithan. Funeral services will be held at his home at 4 P. M. Tuesday. Burial will be private.
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Reopened for Editing 2024-02-06 13:53:11