John Wesley Hanes II
| John Wesley Hanes II | |
|---|---|
| Born | April 24, 1892 Winston-Salem, North Carolina |
| Died | December 24, 1987 Millbrook, New York |
| Residence | Millbrook, New York, New York City |
| Education | Woodberry Forest School, Yale University |
| Occupation | Financier, statesman, Thoroughbred racing executive and owner/breeder |
| Known for | Under Secretary of the Treasury |
| Board member of | , Hearst Corporation, Olin Corporation, New York Racing Association, National Museum of Racing and Hall of Fame, United States Lines, Bankers Trust Company, the Johns-Manville Corporation, P. H. Hanes Knitting Company, Mutual Life Insurance Company (Trustee) |
| Spouse(s) | 1) Agnes Mitchel (died 1916) 2) Hope Yandell Hanes (1906-1992) |
| Children | Son with Agnes: John W. III Daughters with Agnes: June, Ormsby Daughter with Hope: Susan Son with Hope: David G. |
| Parent(s) | John Wesley Hanes & Anna Jannette Hodgin Hanes |
| Relatives | Brothers: James Gordon, Robert March |
John Wesley Hanes II (April 24, 1892 - December 24, 1987) was an American investment banker and corporate turnaround specialist who served as Under Secretary of the United States Treasury and was President of the New York Racing Association and a Thoroughbred racehorse owner and breeder named an Exemplar of Racing.
Born in Winston-Salem, North Carolina, John Hanes II was the son of John Wesley Hanes and Anna Jannette Hodgin Hanes. His father was the founder of Shamrock Mills who was also a significant shareholder of Reynolds Tobacco Company through the sale of a tobacco business he had started.
John Hanes II was educated at the Woodberry Forest School in Madison County, Virginia and went on to graduate from Yale University in 1915. Financial management proved to be Hanes II's forte as it was for his elder brother, Robert March Hanes (1890–1959), a career banker who rose from the teller's job in 1919 at Wachovia Bank & Trust Co. to become its President in 1931, a position he held until his retirement in 1956.
John Hanes II married Agnes Mitchel in 1916 with whom he had three children. She died at their home in Rye, New York on September 19, 1935, In 1937 he married Hope Yandell, former wife of William Arnold Hanger, with whom he had a son and a daughter.
John Hanes II served with the United States Navy during World War I. When the war ended, he went to New York City where found employment as a bond salesman with the Wall Street stock brokerage firm, Charles D. Barney and Company. He quickly demonstrated his skills and was made a general partner in the firm and by 1935 had been elevated to senior partner. Hanes became a governor of the and his high profile resulted in President Roosevelt appointing him to the Federal Securities and Exchange Commission in 1937. In May 1938, President Roosevelt appointed John Hanes II as an Assistant Secretary of the Treasury and in October to Under Secretary of the Treasury to succeed Roswell Magill. His main focus was a Revenue Revision Study that he had completed when he handed in his resignation effective December 31, 1939 when he resigned to return tp private enterprise. In the 1940 presidential election, Hanes broke with the Roosevelt Administration and supported Wendell Willkie in his unsuccessful campaign for president.
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