William J. Rainey biography

WILLIAM J. RAINEY, special loan agent for the Northwestern Mutual Life Insurance Company, of Milwaukee, Wisconsin, is one of the enterprising business men of Dallas, Texas.

He was born in Algonac, Michigan, May 1, 1865, and began his business career in Detroit as a fire-insurance agent. Later, he went to Lansing, Michigan, and engaged as agent for S. L. Smith, land-owner and capitalist, by whom he was employed one year. Then he went to Baraga, in the upper peninsula of Michigan, and engaged in the real-estate business; thence to Iron Mountain, Michigan. He was one of the men who got up the boom in that iron-mountain country. He sold 360 acres of lots in the city of Iron Mountain; was there two years. He was next engaged as secretary and treasurer for the Lock-Stave Company, of upper Michigan, plant now located at Duluth. Subsequently returning to Iron Mountain, he again engaged in the real-estate business, and six months later sold his interests there. He has been in the real-estate business in various parts of the country since that time, until recently. At the present writing he is employed by the Northwestern Mutual Life Insurance Company, and by his business push and tact renders himself a valued agent. This company loans money in large amounts on real estate. The assets of the company are over $50,000,000. It has done a lending business for over three years; in that time it has lent over $90,000,000, and now has loans outstanding to the amount of $50,000,000. The company buys Government, county and municipal bonds; has bought over half a million of Texas bonds since the fall of 1891, and is constantly putting in more money in the State then it takes out.

Mr. Rainey is a man of marked business ability, takes a deep interest in city and county affairs, and is progressive and public-spirited. He is popular not only in business circles, but in social circles as well.

Source: [Anonymous], Memorial and Biographical History of Dallas County, Texas (Chicago: Lewis Publishing Co., 1892), pp. 890.