Louis Graveraet Kaufman

Louis Graveraet Kaufman was born in Marquette, Michigan, November 13, 1870, the sixth of twelve children. He started his career at his father's Marquette County Savings Bank in 1894 as a messenger, studied banking, became Vice President at Peter White's First National Bank of Marquette in 1901, and on Peter White's death moved up to President in 1906. That was the beginning of his enormous success as a banker.

Ideas are powerful things. As president of the Michigan Bankers' Association Kaufman realized national banks could branch with the Comptroller of the Currency's permission. Keeping that thought to himself he moved to New York in 1910 (without, by special dispensation of the Federal Reserve Board, giving up the Presidency of the Marquette bank) to take leadership of Chatham National Bank. He soon merged Chatham with Phenix National and initiated a succession of banking mergers and acquisitions with the goal of converting these state banks into branches of Chatham Phenix National Bank and Trust Company. Reportedly there were $5,000 bets that he would be stopped. Kaufman defied the odds, the Attorney General issued a favorable opinion, the Comptroller granted permission, and on September 20, 1915, five years after arriving in New York from Marquette, the New York Times reported:

"The Chatham and Phenix National Bank will open for business today, with eleven branches in this city. This will be the first time that a national bank in this country has been permitted to operate branches in the same city with the main bank, and it marks a radical change in the attitude of the Federal banking authorities."

In five years under his leadership the deposits of Chatham Bank increased 800% from $7,600,000 to $60,000,000. In 1919 L.G. Kaufman returned to Marquette with his Native American wife to build Granot Loma. By 1925 Chatham Phenix had resources of $300,000,000 and was one of the ten largest banks in the country. Chatham Phoenix merged with Manufacturers Trust in 1932 and that year Kaufman resigned to focus on his interests in Marquette. Back home he shared his great success by contributing generously to his community. As one example of many, Kaufman endowed Marquette's Graveraet High School, the first high school in the country to be so endowed.

Louis Graveraet Kaufman's talents as a deal maker are legendary. He was elected to the Board of General Motors in 1910, helped reorganize GM in 1913 and served on its Board for 22 years. He was also on the board of the Chicago & Erie Railroad Company. And with a small group of investors he funded the construction of the grandest building of his time, the Empire State Building.

Granot Loma itself stands as testament to the uncommon grandness of his vision.

After L.G. Kaufman's death in 1942 his wife inherited the property and used it until 1947 when she moved to the Hotel de Paris where she lived and died in 1959. Joan (Marie) Kaufman and Jack (John Charles) Martin bought the property from Joan's mother's estate that year. Jack cared passionately about the Lodge and preserved it as it was, even keeping the old phone books and medications where they were. Parts of the property to the north were sold, but everything "as far as you can see" on the shoreline was kept intact. Jack Martin died in the early 1980's and in due course for the first time Granot Loma was publicly offered for sale. Muhammad Ali made an offer, which was rebuffed.

Tom Baldwin purchased Granot Loma in 1987.