George Armour, Date of Birth, Place of Birth, Date of Death

George Armour

Scottish American businessman and philanthropist

Date of Birth: 24-Apr-1812

Place of Birth: Campbeltown, Scotland, United Kingdom

Date of Death: 13-Jun-1881

Profession: businessperson

Zodiac Sign: Taurus

George Armour (April 24, 1812 – June 13, 1881) was a Scottish American businessman and philanthropist known for his contributions to the global distribution process for commodities.
He is credited with developing the grain elevator system, establishing grain trading standards as director and president of the Chicago Board of Trade (CBT), founding the Chicago, Burlington and Quincy Railroad (CBQ), Commercial Club of Chicago , YMCA of Chicago, Merchants' Loan & Trust Company (MLTC), the precursor to Continental Illinois, and the Chicago Academy of Fine Arts which later became the School of the Art Institute of Chicago and Art Institute of Chicago.
He served as a director of several notable companies during his career. As founder of Armour, Dole & Co and other firms, he created the first extensive system of large mechanized grain elevators in Chicago and thus enabled the shipment of grains from the American Midwest to destinations all over the world.
During his tenure, the CBT standardized the grading and selling of grains and established the first commodity futures markets.
He was "popularly known as the father of the grain elevator system" or as a "rapacious, blood sucking insect."