Monroe Dunaway Anderson

Monroe Dunaway Anderson (1873–1939) was a banker and cotton trader from Jackson, Tennessee. With William L. Clayton, Anderson built Anderson, Clayton and Company (formed in 1904 by his brother Frank E. Anderson and Frank's brother-in-law, William L. Clayton) into the world's biggest cotton company. In the event of one of their deaths, the partnership would lose a large amount of money to estate taxes and might be forced to dissolve. In order to avoid this, Anderson created the M.D. Anderson Foundation with an initial sum of $300,000 . In 1939, after Anderson's death the foundation received an additional $19 million (equivalent to $ million in ).

In 1941, the Texas Legislature appropriated $500,000 to build a cancer hospital and research center. The M.D. Anderson Foundation agreed to match the state funds if the hospital were located in Houston at the Texas Medical Center (another project of the Anderson Foundation), and named after Anderson.

Using surplus World War II Army barracks, the hospital operated for 10 years from a converted residence and 46 beds leased in a Houston hospital before moving to its current location in 1954. The center would later become one of the leading cancer research and treatment institutions in the world.

Early life Monroe Dunaway Anderson was born on June 29, 1873, the sixth of eight children born to James W. Anderson and his wife Ellen (née Dunaway) in Jackson, Tennessee. Private J.W. Anderson had enlisted in the Confederate States Army, but had been captured in March 1864 as he returned home to visit his young family in McNairy County (south of Jackson, on the Mississippi border), then was held at Camp Chase near Columbus, Ohio, in part because his uncle James M. Anderson of Glasgow, Kentucky traveled to Washington, D.C. to secure his release. After the war, the elder Anderson founded the First National Bank of Jackson. Although his formal schooling stopped after the eighth grade, "M.D." (as the boy was often called) worked for his father at the bank, where learned about finance and prepared for his later business success. Monroe's older brother, Frank, had already tried working in the bank, but found the routine too boring. Blessed with charisma and a magnetic personality, Frank had already decided he wanted to go into cotton trading. About the same time, he met Burdine Clayton, who had just moved to Jackson from Tupelo, Mississippi, with her family: father Thomas Munroe Clayton, mother Martha Fletcher (née Burdine) and brothers, William (Will) and Benjamin (Ben). Not only did Frank and Burdine fall in love and marry, but Will and Frank became best friends. The two shared the vision of starting a company that would buy, process and sell cotton worldwide.

Starting Anderson, Clayton and Company Monroe, Frank and their brother-in-law, Will, scraped up $9,000 and went to Oklahoma City. On August 1, 1904, they launched their business, Anderson, Clayton and Company, during the era of the Jim Crow economy. Ben Clayton was still working in New York for the American Cotton Company. Will had also worked at the same company, and between them, they had learned about international banking and establishing shipping networks (both by rail and by sea). Ben soon moved south to join them.