Ira M. Cobe
| Ira M. Cobe | |
|---|---|
| Born | October 29, 1866 |
| July 9, 1931 (aged 64)July 9, 1931 (aged 64) | |
| 🏳️ Nationality | American |
| 🏫 Education | Boston University |
| 💼 Occupation | Businessman, investment banker, lawyer |
Ira Maurice Cobe (October 29, 1866 – July 9, 1931)[1] was an American lawyer, investment banker, financier, and early automobile enthusiast, known for his influence on Chicago’s transportation infrastructure and early American auto racing. He co‑founded the investment firm Cobe & McKinnon and later led key street‑rail and utility companies. Cobe sponsored the Cobe Trophy Race (1909–1910) a precursor to the Indianapolis 500.
Early life and education
Ira Maurice Cobe was born in Boston, Massachusetts, on October 29, 1866,[1] the son of Mark H. and Eva (Morris) Cobe. He attended Boston public schools and earned a law degree from Boston University School of Law. He was admitted to the bar in June 1888 and practiced law in Boston. He married Anne Elizabeth Watts in 1892. [2]
Chicago career
In 1892, Cobe relocated to Chicago and established the investment firm Cobe & McKinnon.[3] [2]
The firm secured Eastern financing for Midwestern infrastructure projects. He later helped form and became president of the Assets Realization Company.[2]
Cobe held prominent roles: chairman of Chicago City Railway Company and board member for Calumet & South Chicago Railway, Hammond, Whiting & East Chicago Railway, and Chicago Elevated Railroads. He also served as director at Chicago Title & Trust, National Bank of the Republic, and Financial Corporation of America.[2]
A contemporary of utilities magnate Samuel Insull, Cobe was considered part of a powerful network of executives—known informally as the "Big Five"—who oversaw several major transportation and utility enterprises in the city.
Cobe Trophy Race
An early automobile enthusiast, Cobe served as president of the Chicago Automobile Club. He sponsored the Cobe Trophy Race, one of the first long-distance car races in the U.S. The 1909 race, held on Indiana public roads, was won by Louis Chevrolet. The 1910 race, at Indianapolis Motor Speedway, was won by Joe Dawson. Both are considered precursors to the Indianapolis 500.[4][5]
Maine estate
In 1909, Cobe acquired 100 acres in Northport, Maine in the village of Bayside to build a mansion, Oak Hall (also known as Hillside Farm), designed by Benjamin H. Marshall of Marshall and Fox and landscaped by Warren H. Manning. Completed circa 1914, it featured a two-story Aeolian organ and served as a venue for cultural and social events.[6]
Death
Anne Elizabeth Cobe died in New York City in 1928. Ira Cobe died on July 9, 1931, at Oak Hall.[7][8]
References
- ↑ 1.0 1.1 "Ira Maurice Cobe – RootsWeb". Retrieved June 27, 2025.
- ↑ 2.0 2.1 2.2 2.3 "Ira Maurice Cobe – Notables of the West". Retrieved June 27, 2025.
- ↑ "Cobe & McKinnon to Quit – NY Times". The New York Times. 19 February 1914. Retrieved June 27, 2025.
- ↑ ""Crowds Expected At Cobe Trophy"". The New York Times. April 4, 1909. p. C7.
- ↑ "Indiana's Cobe Cup Trophy Race – Indianna Landmarks Times". November 2021. Retrieved June 27, 2025.
- ↑ "Oak Hall – American Aristocracy". Retrieved June 27, 2025.
- ↑ "ATTACK IRA M. COBE WILL – NY Times". The New York Times. Retrieved June 27, 2025.
- ↑ "Lb2007.1.72004". Retrieved June 27, 2025.
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