Homer Loring

Homer Loring (1875-1939) was an American industrialist who served as chairman of the Boston & Maine Railroad from 1924 to 1928. He was known for reorganizing large industries.

Early life Loring was born in October 1875 in Newton Center, Massachusetts. He attended Newton public schools. Loring began his business career with his father's brokerage firm. He also worked for the Saginaw Traction Company and organized the Nevada Consolidated Copper Company. During his tenure as chairman, the B&M built new freight classification yards, improved buildings, roadbeds, and bridges, installed new equipment, consolidated personnel, discontinued or transferred 300 miles of unremunerative lines, enlarged the Hoosac Tunnel, and developed a new North Station complex, which included a new train station, the Boston Garden, Hotel Manger, North Station Industrial Building, and a distributing terminal. Loring's financial reorganization brought $13 million of new funds to the railroad and extended the maturity of $40 million worth of bonds by fifteen years.

Administration and Finance In December 1922, Governor Channing H. Cox nominated Loring to serve on the newly created State Commission on Administration and Finance. Loring was the commission's chairman as well as the budget commissioner. He resigned in September 1924 to fully devote his time to his duties as B&M chairman.

Textiles In October 1928, Loring and associates bought into the Seneca Textile Corporation of New York. On October 9, 1928, Loring announced the formation of the United Merchants and Manufacturers, Inc. Loring served a president of the new company. In January 1929, Loring purchased the Arkwright Mills in Fall River, Massachusetts.

Personal life Loring was married to Mary (Bennett) Loring. The couple had one daughter. In 1936, Loring began residing in a room at The Union League Club in New York City.

Loring died on June 20, 1939, in his room at The Union League Club.