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Spencer Penrose
Spencer Penrose (November 2, 1865–December 7, 1939) was a businessman, entrepreneur, venture capitalist and philanthropist at the turn of the 20th century. Although principally in and around Colorado Springs, Colorado, his interests included concerns in Arizona, Utah, and Kansas.
== History ==
Spencer was born into a prominent Philadelphia family of Cornish descent〔White, G. Pawley, A Handbook of Cornish Surnames.(Penrose mentioned by name)〕 to Richard Alexandria Fullerton and Sarah Hanna Penrose, and was brother to Boies Penrose and Richard (R.A.F.) Penrose.〔(History of Colorado, Volume 3 p 792-793 )- edited by Wilbur Fiske Stone- Retrieved 2012-01-02〕 In 1886, he graduated last in his class from Harvard.〔(''Spencer Penrose''; El Pomar, A Foundation for Colorado )〕 Penrose started as a ladies-man and an adventurer who became a successful entrepreneur in the gold fields of nearby Cripple Creek in the 1890s as a manager of the local real estate office of Charles L. Tutt, a general supplies' merchant and gold assayer; his great fortune evolved from his associations with his geologist brother's gold and silver mine in the Commonwealth mine in Pearce, Arizona, and in his prescient purchase of Utah property that held enormous reserves of low grade copper ore that was extracted via a new metallurgical technique developed by one of his engineers in his Cripple Creek associations.
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