Hoyt, Jesse

Hoyt, Jesse (1815–82) businessman; born in New York City. He worked as a grocery clerk until 1838 when he formed, with his father, James M. Hoyt & Son, a flour and grain commission house. At his father's death in 1854, the hugely successful business was renamed Jesse Hoyt & Co. Interested in developing the west, in 1851 he began buying large tracts of timberland in the Saginaw Valley of Michigan where he established a lumber company, a small town, and a ship yard. He discovered and mined the abundant salt deposits and promoted the development of several railroads in the western Great Lakes area.