Eugene Preston Foster (April 4, 1848 – February 12, 1932), commonly known as E. P. Foster, was a rancher, entrepreneur, banker, and philanthropist in Ventura County, California.
A native of Illinois, he moved to California and, in the early 1870s, settled in Ventura County. His early ventures included sheep ranching, managing a local water company, developing natural gas wells along the Ventura River, and planting and operating an apricot orchard. He then acquired an interest in the Bank of Ventura and served as its president from 1890 to 1917, when it was acquired by the Bank of Italy. He also invested in the Union Oil Company of California.
Foster became known as one of the area's most important philanthropists in the early 20th century. He established and donated several parks, including Camp Comfort, Foster Memorial Park, and Seaside Park. He also planted trees throughout the City and County of Ventura and donated Ventura's main public library, the E. P. Foster Library. He also helped fund the construction of Community Memorial Hospital, which was known as the E. P. Foster Memorial Hospital from approximately 1932 to 1962.
The Foster family house at 2717 North Ventura Avenue, built in 1881, was donated to the Ventura School District in 1955. It fell into disrepair and was destroyed by fire in 2010.
Early years
Foster was born in 1848 in either Joliet, Illinois, or Plainfield, Illinois. He moved west with his family in the 1850s, taking an overland route in a covered wagon. The family settled in northern California. Foster grew up near Half Moon Bay.
Business career
Foster moved to Goleta, California, in 1867, and to Ventura County in the early 1870s. He bought land in the Santa Clara Valley and went into the sheep business.
Foster was married to Orpha Woods (1850–1938) at the Barron Ranch (later the site of the California State School for Girls) in Ventura in August 1874. They lived after their marriage on the Rancho El Conejo where Foster operated his sheep business, grazing on portions of the Ranchos Conejo, Simi, and Las Posas. By 1875, Foster's herd had grown to 10,000 head.
After a drought destroyed Foster's sheep business in 1877, he sold what was left of his herd and moved to Ventura, where he worked for W. S. Chaffee's Santa Ana Water Company that supplied water to Ventura. Foster and his wife lived in a house on Chaffee's orchard on Ventura Avenue.
In the early 1880s, Foster partnered with G. W. Chrisman to establish Ventura's first electric light plant and ice plant. He also developed natural gas wells along the Ventura River and planted a large apricot orchard on the J. W. Day ranch to the east of Ventura.
Foster also became active in banking. He sold his interest in the apricot orchards to invest $10,00 in the Bank of Ventura. He became the bank's cashier and later its president from 1890 to 1917. When the Bank of Ventura was acquired by the Bank of Italy (later Bank of America), Foster served on that bank's advisory board. Foster also invested in the Union Oil Company, and much of his wealth came from his oil and banking investments.
Philanthropy
Foster was also known for his leadership in civic affairs and his philanthropy. Parks and recreation were a particular focus of Foster's efforts. He is responsible for the creation of Ventura County's park system and had a direct role as benefactor in three of the County's early parks: