Taylor, Myron C.

▪ American financier and diplomat

in full  Myron Charles Taylor  

born Jan. 18, 1874, Lyons, N.Y., U.S.

died May 6, 1959, New York City

      American financier and diplomat who was chief executive of the United States Steel Corporation in the 1930s.

      Though admitted to the bar in 1895, Taylor spent much of his early career in the textile business, operating mills in New England and elsewhere until 1923. At the behest of J.P. Morgan he became a director of United States Steel, serving as chairman of its finance committee from 1927 to 1934 and as chairman of the board and chief executive officer from 1932 to 1938. The financial reorganization that he implemented helped the corporation to survive the Great Depression. Considered progressive in labour relations, he was the first steel executive to sign a labour contract with the Congress of Industrial Organizations (in 1937). Many smaller steel companies followed U.S. Steel's example, and the nation's steel industry was soon unionized.

      After retiring from business in 1938, Taylor was sent by President Franklin D. Roosevelt (Roosevelt, Franklin D.) to a refugee conference in Évian-les-Bains, France, as head of the American delegation. In this capacity he tried to aid the growing numbers of refugees fleeing Nazi Germany. Later he was Roosevelt's special representative to the Vatican, the first to hold such a post since 1867. Though the appointment was criticized by religious leaders as a violation of the separation of church and state, Taylor was reappointed by President Harry S. Truman after World War II. Later he served on other special missions with the rank of ambassador. Active in civic affairs, Taylor donated millions of dollars to humanitarian and cultural institutions, most notably to Cornell University, his alma mater.

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