Frederick Lothrop Ames was heir to a fortune in railroads and shovel manufacturing. He was Vice President of the Old Colony Railroad and director of the Union Pacific railroad. At the time of his death, Ames was reported to be the wealthiest person in Massachusetts.

The Ames Building is located in Boston, Massachusetts. It is sometimes ranked as the tallest building in Boston from its completion in 1889 until 1915, when the Custom House Tower was built, but the steeple of the 1867 Church of the Covenant was much taller than the Ames Building. It is nevertheless considered Boston's first skyscraper. In 2007, the building was converted from office space to a luxury hotel. In 2020, the building was purchased by Suffolk University and converted into a student residence hall.