Son of Nephi Willard Clayton and Sybella White, and grandson of William Clayton and Augusta Braddock Clayton. Had three children: Sybella White Clayton G'Schwend (March 12, 1922 – June 3, 2013), "Larry" Lawrence Clayton Jr (1924-1988), and Barbara Ruth Clayton Gookin (June 9, 1926 – December 15, 2013), all likely born in Ogden, Utah. Lawrence Jr was born in Washington D.C.
Clayton received an A.B. from Stanford University in 1914 and an LL.B. from Harvard Law School in 1916. He served in the Field Artillery of the US Army in France during World War 1. President Harry S. Truman appointed Clayton as a member of the Board of Governors of the Federal Reserve System, effective February 14, 1947. Clayton died of a heart attack at home at the age of 58 while in office.
Buried at Arlington National Cemetery Section 8 Grave 539 with his wife Ruth Myrtle Dunn Clayton (September 26, 1896 - October 12, 1954).
- "Archived copy". Archived from the original on 2015-04-02. Retrieved 2015-03-18.CS1 maint: archived copy as title (link)
- http://www.ruckfuneralhomes.com/home/index.cfm?action=public:obituaries.view&o_id=2349933&fh_id=12022, Ruck Funeral Homes, Obituary, accessed March 18, 2015
- http://www.ancestry.com/1940-census/usa/Maryland/Sybella-Clayton_57mswk, Ancestry.com, accessed March 18, 2015.
- "Membership of the Board of Governors". Federal Reserve System. Archived from the original on February 18, 2012. Retrieved March 19, 2011.
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