Martin O. Nelson Sr.; Investing Was His Game But Not His Life

Martin O. Nelson Sr. was the kind of investment banker who could line hearts - as well as bank accounts - with gold.

Self-possessed, upbeat and ever courteous, the one-time Washington Husky rower was as comfortable lounging on a Bahamian beach as he was laying down the bottom line to a greedy securities trader.

It made no never mind to him, as long as it made those he cared for happy - from grandkids to clients.

Mr. Nelson died Oct. 13 at age 82.

"He was a very loving family person, a gentleman of the old school, tip to toes," said his daughter, Karen Knudson of Princeton, N.J. "He loved tennis and was very devoted to the Huskies, especially the crew.

Said his son Martin Jr. of Seattle: "He has given to two shells to the UW. I think he attended about every crew banquet they've had."

His grandson Lars Knudson, also of Princeton, recalled how Mr. Nelson would let his grandchildren decide where they would go on his vacations - Disney World, the Cayman Islands, the Bahamas.

Said his daughter: "He jumped into whatever he was doing with total commitment and enthusiasm. His special love was the Fred Hutchinson Cancer Research Center."

Mr. Nelson directed or served as a trustee with the cancer center, UW Alumni Foundation, Cornish College for the Arts, Children's Home Society of Washington and China Club of Seattle.

He was born in Palo Alto, Calif., to Swedish-immigrant parents who wanted him to become an all-American boy.

They moved to Seattle when he was 2, and he obliged them in their dream: He graduated from Franklin High School, where he had played sports and edited the newspaper, then graduated from the UW, where he was a student-body officer.

In 1933, the economics major became a representative with the investment firm Blyth and Co. He worked there until 1954 - except the war years, when he attained the Army rank of major.

Then he founded his own company, Martin Nelson and Company Investment Bankers. His specialty was long-term securities.

"His technique was to always put the customer first," said Martin Jr. "A lot of traders didn't like him very much because he'd always talk 'em down, then pass the savings to the customer.

"He stressed that the person with $5,000 is just as important as the one with $500,000 or $5 million."

Mr. Nelson must have been right: The firm had many third- and fourth-generation clients, and no lawsuits in 40 years.

He also worked only "half-days," said Martin Jr. - 7 a.m. to 7 p.m.

Other survivors include Mr. Nelson's wife, Rose Marie; son Webb, of Seattle; and seven other grandchildren.

A service will be at 11 a.m. tomorrow at St. Stephen's Episcopal Church, 4805 N.E. 45th St.

Remembrances may be made to the Fred Hutchinson Cancer Research Center or to St. Stephen's.