Andrew Tilles
| Cap Tilles | |
|---|---|
C. A. Tilles in St. Louis, MO
|
|
| Born |
November 25, 1865 St. Louis, Missouri |
| Died | November 22, 1951 (aged 85) St. Louis, Missouri |
| Education |
|
| Occupation |
|
| Net worth |
 $360.653 million in 2013 dollars, based on information from Bismarck Times – 1918, and US inflation calculator. |
| Spouse(s) | Corinne (Cora) Lee Eddington (m. 17 October 1901 – 10 June 1909; divorced) |
| Parent(s) |
Louis Tilles (13 February 1829 – 11 September 1875) Rosalie Peck Tilles(1837-10 Aug. 1872) |
| Relatives |
|
Andrew "Cap" Tilles (November 25, 1865 – November 22, 1951) was an American business magnate and philanthropist. At an early age, Tilles adopted his childhood nickname of Cap, which he used for the rest of his life. Tilles revolutionized the United States horse racing industry. Later in life, Tilles dedicated his resources to philanthropic projects in St. Louis, Missouri. In 1896, he co-founded and actively ran an investment syndicate that dominated the US horse racing industry through World War I. The investment syndicate became known in the media as the "Big Three," after its three principal partners: Louis A. Cella, Samuel W. Adler, and C. A. Tilles. The syndicate was officially known as C.A.T., which was short for the Cella, Adler, and Tilles partnership.
In 1905, Tilles was forced to close his race tracks, as a result of progressive politics abolishing gambling in Missouri. The closing of the tracks eventually resulted in a multimillion-dollar personal fortune for Tilles with the sale of the partnership's land holdings in St. Louis. The Delmar Race track land was particularly lucrative property for sale and development along the famed Loop of Delmar Boulevard. Tilles used his fortune to expand C.A.T. across the country. By 1914, Tilles had acquired 25 horse racing tracks across the United States, the most of any investor in US history. In 1901, he founded the Western Turf Association, which eventually monopolized the Midwestern and Southern track systems. By World War One, the Big Three had acquired most every major non-coastal horse race track in the heart of the country, with the exceptions of Hawthorne Race Course in Chicago and Churchill Downs. As president, Tilles revolutionized the horse racing industry by introducing electricity to the game, developing the modern system of licensing book makers, and holding the first ever recorded instance of night racing.
Tilles was also associated with the cigar, real estate, stock, and brokerage businesses. In 1901, C.A.T. took ownership of the Delmar Investment Company, which among its holdings included a . In 1909, bucket shops were declared illegal by the Anti-Bucket Shop Act of Congress. In 1910, Tilles and his partners at the Delmar Investment Company were arrested in the Western Union bucket shop scandal. Federal agents raided Western Union and uncovered a secret and illegal telegraph and ticker service for bucket shops across the country. In 1911, Tilles was extradited to Washington D.C. to stand trial for illegally operating and conspiring to operate a bucket shop in St. Louis. On October 10, 1911, the case was dismissed in favor of Tilles' acquittal after the Anti-Bucket Shop Act was declared unconstitutional by Justice Wright of the district of Columbia Supreme Court.
...
Wikipedia