William E. Harmon

William E. HarmonWilliam Elmer Harmon (March 25, 1862 ), also known as Jedediah Tingle (cited in some sources as Jebediah Tingle), was a white real estate developer and philanthropist. He founded the William E. Harmon Foundation, which was noted for its support of African-American artists.

Early life

Harmon was born in Ohio and raised in the Midwest; his father was an officer in the 10th Cavalry Regiment. When he was six years old, he and his mother joined their father living in Native American territory.

Career In 1887, Harmon approached his younger brother, Clifford B. Harmon, and their uncle Charles Wood with a business proposition. William felt that there was money to be made by providing a way by which people interested in owning a home could purchase one in installments, making a small down payment and paying what they could monthly. This "Easy Pay Plan" opened the possibility of home and land ownership to large groups who might not otherwise be able to do so. Clifford and his uncle both liked the idea; together they pooled $3000 to start Wood, Harmon & Co.

Their first development was near Loveland, Ohio. Further developments were soon built in Ohio and western Pennsylvania, followed by expansion into various cities in the Midwest and the East Coast of the United States. Wood, Harmon & Co. soon had offices in over 26 cities.

In 1900 Wood, Harmon & Co, purchased large tracts of land in Brooklyn, New York, in anticipation that the building of the Brooklyn Bridge and expansion of the city's rail transit would provide opportunities for the company. This action proved to be fortuitous, with the company ultimately developing over 20,000 building lots in Brooklyn. Wood, Harmon & Co. diversified by creating other companies to acquire and hold business properties and real estate for lease and/or sale. In 1907, William took his partners to court over Clifford and Wood having set up further businesses using the corporate name without his involvement, leading to the dissolution of the company.

Foundation and Jedediah Tingle

The William E. Harmon Foundation, which Harmon established in 1921, Tingle's true identity was not publicly known until after Harmon's death.

Death

Harmon died July 15, 1928, in Southport, Connecticut, after years of illness. At his death, he still had US$2,000,000.