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HONG KONG DAILY PRESS, WEDNESDAY, JULY 19, 1933
SIR JOHN ELLERMAN
Death Of England's Richest Man
VAST FORTUNE 'IN SHIPPING
ECHOES OF 1858
DAILY PRESS CRÍTICISM OF THE LEGAL SYSTEM
20.—Solicitors, Barristers and
Jacks-of-all-Tradės
The injustice done to the Solici; the private practise of one of them tore in thus depriving them of gentleman and we find that in open rights secured by Act of Parlia-Court, he construas an ordinance | Sir John Ellerman, Bt., C.Hment may not be generally under- of his own concocting in a manner whose death at the age of 71 was stood. To become a Solicitor which the law scouts and shocks announced in our issue of yesterday young man has generally to pay the nerves of the colonists. We was reputed to be by far the premium of £200 £300 for admis need hardly say, that all confidence richest man in Britain,
sion into an office in which he has in men so situated is gone. If the He was head of colossal shipping to serve for five years without fee present barristers find that per interests, he was one of London's.. or reward. He has to pay £120tion of their new duties to be two or three largest landowners, he for the Stamp attached to his artic irksome which the amalgamation was until recently a brewery mag-les, and he has to pay other fees will involve, they can and doubt nate, and probably the greatest in- before passing his examination and less will alter by ordinance the vestment holder in the country. He being admitted on the Roll. Now rulen of the Court so as to suit was richer, indeed, it is sometimes can it be possible that any Act, no their own convenience. Then again sail, than any man has ever heen matter parliamentary or other the disreputable system of retros in Britain before.
wise, can deprive such a person of pective legislation is so prevalent And he was practically personally his living without compensation here that we should not be at all unknown to the general public. Right sure are we it cannot, for surprised to see the law altered
He was said to be worth we wall remember when the Muni- here to help a case over the stile j £30,000,000, A thousand times as cipal Reform Act came into opera which one of our ordinance ful- much is heard in Britain about, tion, all the legal men whom its minating lawyers may have under- Henry Ford, who lives 3,500 miles action projudiced, were secured by taken. At all events, laws should away, as about Sir John Ellerroan, its provisions with ample compen be made so that those who frame his British equivalent, who lived in sation. We do not profess to be them have no chance of subverting London.
able to judge as to the feasibility them to their own purpose. Only One House,
or propriety of amalgamating the Again,lock at the evil influence but we feel well assured and con- having a seat in the Council may two branches of the progression, which the Compradore of a lawyer vinced that the present system of exert in the Chinese population. allotting to each its several and We have seen much of this kind distinctive functions has been the of work and in an immense amount result of vast experience and legis of scandal has it resulted, but w lative acumen.
have yet to see the effects of the
Sir John was probably the only millionaire living in only one house. His house was in Mayfair, where Ed lived a simple life. Once he had a Scottish castle, but he sold it after three years. He had no re- ing stud and did not keep a yacht not do many of the other things the world expects millionaire, to do,
These things simply did not in- terest him. Sir John Ellerman's income was estimated at £1.000,000
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It is absurd to urge, that the con- machipations of a Compradore in templated amalgamation will not, whose master is united the power oust the present Attornies, and, we and influence, of a barrister, on therefore deem it superfluous to attorney, a legislator, a usurer and argue the point. But there is an- government official other phase of the subject
upon Moreover, there is no concealing which too much stress cannot be the fact that there is a very general
a year, but he spent only 3 or 4 perlaid. According to British Law a want of confidence in our Supreme cent. of it." The rest was always reinvested. Yet, when he set his judge cannet sit in Farliament al Court. Certain persons who have heart on something he was sxtra- though a barrister can. Here the appeared there lately rather pro- ordinarily generous. In the war he Judge and half the Bar are mem-minently, are members of the started & hospital for shell-shocked bers of the Legislative Council Legislative Council, and have in men. He paid for everything cut into which an Attorney has no each case come, off with flying co- of his own pocket, and it cost at
chance of being admitted, no, not lours. We of course refer to the least £15,000 a year. He also sub-even as an auditor. If being Legis Queen, Lyall Still and Co., Dent lative Councillors added to the res scribed largely to the Red Cross.
Schaeffer, and the Crown The late Sir John Ellerman was pectability, or standing of the bar against ourselves. It cannot be for bom in Hull in 1862 His father risters enjoying the privilege, then, a moment supposed, that we par Wa A
German Consular official should the honour of their cloth take in this want of confidence in there.
His mother was an English- and the etiquette of their profes-the Court in any of its functions, women, the daughter of a Hull mer-
sion be more tenaciously guarded. criminal or equitable. But we re chant
Here, however, it is quite the re-i peat nevertheless that it is a fact "Not Good Enough,"
verse, for the very barristers thus that there is a great want of con- He went to school in Birming situated are the men, who if not fidence, and should any of our ham. While he was still a youth
the actual promoters, are the mercantile Legislative Councillors. he came to London. He took a job special advocates of this scheme of again become litigants and meet with a firm of accountants in the amalgamation. We have lately see with similar success, this want of City as a clerk. He was a good Legislative Council produced on al still.'
the effect which a seat in the confidence will become more gener- at his work that soon they offered him some slight promotion.. Young John Ellerman countered this with A suggestion that they should take him into partnership! They did not think he was good enough for this, so in the early twenties he started as an accountant for him- sell. His father bad died leaving
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this start he began business in the City.
4
SOVIET PROMISE | PLOT AGAINST KWANGSI
OF TRADE
RESUMPTION OF RELA. TIONS URGED IN NEW YORK
He had an extraordinary fore- sight. By the time he was twenty- five he was making some thousands 'a year. At twenty-seven he started
his first trust company. By thei time he was thirty he was head of
NEW YORK, July-12 four, and the biggest shareholder Visions of a thousand-million in all of them. In twenty years he dollar trade with Soviet Russia to had so prospered that he had be-day completely overshadowed the come a millionaire.
John Ellerman knew nothing whatever about ships at that time Secured Control.
LEADERS
ARRESTS AT NANNING
WECHоw, July 17. The Secret Service Department of the Kwangsi Government has lately discovered a plot organised by reactionary elements to assas sinate a number of high officials and to attempt other reactionary actions aiming at the undermining of the Nanzing Authority. A must- ber of suspects were arrested the protests of patriotic and labour other day in an inn at Nanning organisations so far as the Russian and on one of them a pistol was American committee of the New found.
When he had started his first company at twenty-seven, in 1889, he was able to take a large interest York State Chamber of Commerce The report current of late that in a syndicate which, whs buying was concerned. The committee an four desperadoes attempted Gen- up an Atlantic shipping company,nounced that it had reversed its eral Pei Chung Hai's life at Nan- the Leyland Line.
stand taken in April regarding re ning, lacks confirmation, but the cognition and that it now favoured story lends colour to the belief that the appointment of Ex national the would-be assassins are involved board to decide on what basis rein this plot-Wah Tez Tat Pao. But he was so confident that helations between United States and could make a success of it that he Russia shall be resumed. gradually put almost all his money in the line. He became the biggest ahareholder and secured control He was a genius in business. He ran the ships better than other companies could, and quadrupled the value of the line.
Then, in 1901, he sold his entire interest to an American syndicate headed by J. P. Morgan.
Suon after he bought up three new lince the City, the Hall, and the Bucknall. He was able, to supply the greater part of the capital out of his own pocket.
After that his successes tumbled over one another.
Steamship lines that were not paying came to John. Ellerman, the steamier wizard, for help. He took them over-and in some magic way they made profits. He owed much of his success to his almost incred. ible memory. A few years after he sold the Leyland Line he was controlling between 200 and 300 ships.
By 1920 Sir John was worth prob- ably £32,000,000. His shipping lines Ind £11,000,000 in hard cash assets alone;
Foresaw the Blump.
Until recent sales he was inter- ested in six breweries. Relatively he was not interested largely, but
Maxime Litvinoff in London that
Citing the statement of Mr. ing.
He had no hobbies. Though he Russia ready to spend was a keen mountaineer in his $1,000,000,000 for foreign goods, the young days, and it was nothing for States could get most of this order for seventeen days in the Alps. committee said that the United him to go with a pack on his back
and sensibly. if the Government acted promtly At least 51 per cent. of his fortune.
will go to the Treasury, The Gov erament, he once said, takes all the profits of such enterprise as is his but the individual still hears the risk.
Trade and diplomatic relations should be resumed, the committee believes, and it hopes that a board will find a satisfactory basis.
The examining board should be Perhaps there will never be any composed of men of national re.i ong in Britain again so rich as Sir putation, the committee said, and it John Ellerman. should represent a fair cross SDC- tion of American opinion regarding
Russia.
..
The same committee in April re- commended that no recognition should be granted unless Russia ternational obligations and to meet gave ironclad pledges to observe in-
certain outstanding obligations.. After a heated debate, the Chamber aproved of the resolution.
Since the State of New York would receive the bulk of the coun try's trade with Russia, the com- mittee reconsidered ita former stand.-United Prean.
only to the extent of a few months before any one else expect
milliona
ed it, in 1998, he saw the world'
But it is said that he would go crash would come. round in his car to inspect himself public-houses his company proposed
to buy. Those were his methods.
Ho was one of the few who fore- saw the present slump on its way,
No Hobbies.
What kind of person was the Richest Man Ever Known ✨ in
He could always deducs priceless Britain top information about world affairs from He was reserved and taciturn, little economic signs that meant He said so little that people have nothing to other people. Six | said they found his company, bor:
(Oontinued at foot of next cal.)
(Continued on next calumin).
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He said:
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"COME BACK NEXT MONTH"
W sentative returned, it was too late! Unforeseeable physical developments had not only ended his earning days, but had left him uninsurable, No longer could ho earn a livelihood for his dependants. Too late now to protect their future. Don't you say "some time later" to the Manufacturers Life agent. Let him tell you how to provide sgainst life's uncertainties.
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