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.
The Cambridge Dictionary of American Biography, by John S. Bowman. Copyright © Cambridge University Press 1995. Reproduced with permission.