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Sir Samuel Morton Peto, Bt
Historical photo of Morton Peto
|Born||4 August 1809|
Woking, Surrey, England
|Died||13 November 1889(aged 80)|
|Occupation||Civil engineering contractor|
|Spouse(s)||Mary Grissell (four children)|
Sarah Ainsworth Kelsall (11 children)
Sir Samuel Morton Peto, 1st Baronet (4 August 1809 – 13 November 1889) was an English entrepreneur, civil engineer and railway developer, and, for more than 20 years, a Member of Parliament (MP). A partner in the firm of Grissell and Peto, he managed construction firms that built many major buildings and monuments in London, including The Reform Club, The Lyceum, Nelson's Column and the new Houses of Parliament; which made him a millionaire.
Samuel Morton Peto, normally called Morton Peto, was born on 4 August 1809, in Woking, Surrey. As a youth, he was apprenticed as a bricklayer to his uncle Henry Peto, who ran a building firm in London.
When his uncle died in 1830, Peto and his older cousin, Thomas Grissell (who had been a partner to his uncle for five years), went into partnership. The firm of Grissell and Peto (1830–1847) built many well-known buildings in London, including the Reform Club, the Oxford & Cambridge Club, the Lyceum, St James's Theatre and Hungerford Market at Charing Cross. In addition, they built Nelson's Column (1843) and the vast infrastructure project of the London brick sewer.
Another project, in 1848, was the Bloomsbury Baptist Chapel, the first Baptist church with spires in London. Tradition has it that the Crown Commissioner was reluctant to lease the land to nonconformists because of their "dull, spire-less architecture". Peto is said to have exclaimed, "A spire, my Lord? We shall have two!" The church had twin spires until 1951, when they were removed as unsafe.
In 1834 Peto saw the potential of the newly developing railways and dissolved the connection with his uncle's building firm. He and his cousin Grissell founded a business as an independent railway contractor. His firm's first railway work was to build two stations in Curzon Street, Birmingham. Next the firm built its first line of track, the Hanwell and Langley section of the Great Western Railway, which included the Wharncliffe Viaduct.
Grissell became increasingly nervous of the risks taken by Peto, and in 1846 dissolved the partnership.
In 1848 Peto and Edward Betts (who had married Peto's sister Ann) entered into a formal partnership and together they were to work on a large number of railway contracts. Frequently, they also working in partnership with Thomas Brassey.
In February 1855 the British government recognised Peto for his wartime services; he was made Baronet of Somerleyton Hall in the County of Suffolk. King Frederick VII of Denmark honoured Peto[when?] for establishing the Flensburg–Husum–Tönning Railway Company and its construction of railways in the Duchy of Schleswig, which led to a growing export/import trade with the port of Lowestoft. Another project abroad was the Homburg Railway built from 1859 to 1860.
The Peto and Betts partnership became insolvent in 1866 due to a combination of the failure of the bank, Overend, Gurney and Company, and their involvement in the failure of the London Chatham and Dover Railway.
In 1844, Peto bought Somerleyton Hall in Suffolk. He rebuilt the hall with contemporary amenities, as well as constructing a school and more houses in the village. He next built similar projects in Lowestoft. For many years he was the largest employer of labour in the entire world.
Peto served for two decades as a Member of Parliament. He was elected a Liberal Member for Norwich in 1847 to 1854, for Finsbury from 1859 to 1865, and for Bristol from 1865 to 1868. During this time he was one of the most prominent figures in public life. He helped to make a guarantee towards the financing of The Great Exhibition of 1851, backing Joseph Paxton's Crystal Palace.
After his involvement with the insolvency of the London, Chatham and Dover Railway in 1866, and the failure of the Peto and Betts partnership, Peto's personal reputation as a trustworthy businessman was badly damaged and never fully recovered.
In 1868, he had to give up his seat in Parliament, despite having the support of both Benjamin Disraeli and William Ewart Gladstone. He exiled himself to Budapest and tried to promote railways in Russia and Hungary.
An extremely unfavourable portrait of Peto is included in the appendix to George Borrow's Romany Rye, where he is described as "Mr. Flamson". When Peto promoted the Lowestoft Railway and Harbour Company in the 1840s, the railway split Borrow's estate at Oulton Broad, just outside Lowestoft. Borrow deeply resented this and bore a grudge against Peto thereafter.
In Ashford, Kent, Samuel Peto Way is a residential road built upon the old Newtown Railway Works site and was named in his honour.
In May 1831 Peto married Mary Grissell, one of the sisters of his later partner, Thomas Grissell. They had four children before Mary's death in 1842:
Peto then married Sarah Ainsworth Kelsall, the daughter of Henry Kelsall of Rochdale. Peto and Sarah had many children. Of these:
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|Parliament of the United Kingdom|
Marquess of Douro
| Member of Parliament for Norwich
With: Marquess of Douro 1847–1852
Edward Warner 1852–1854
Sir Samuel Bignold
Thomas Slingsby Duncombe
| Member of Parliament for Finsbury
With: Thomas Slingsby Duncombe 1859–1861
William Cox 1861–1865
William McCullagh Torrens
Sir Andrew Lusk
Henry Fitzhardinge Berkeley
| Member of Parliament for Bristol
With: Henry Fitzhardinge Berkeley
Henry Fitzhardinge Berkeley
|Baronetage of the United Kingdom|
|New creation|| Baronet
(of Somerleyton Hall)