1939-03-14 — Page 15

Tuesday,

HONGKONG TELEGRAPH

March 14, 1939,

HOW BRITAIN'S RICHEST MAN Seiberling,. Jr.

HANDLES HIS VAST WEALTH

Four Experts Form A "Brains Trust”

THE DEATH RECENTLY OF SIR WILLIAM COX, WHO MANAGED A CONSIDER- ABLE PART OF SIR JOHN. ELLERMAN'S MILLIONS AND WAS HIS CLOSEST ADVISER, WILL MARK A TURNING-POINT IN THE LIFE OF THE RICHEST MAN IN BRITAIN.

No one man will ever be appointed again to share with Sir John all the secrets of the Ellerman fortune.

..

Sir John has now decided to manage his own financial affairs. His decision to do so is particularly Important because in a few years' time he will become master for the first time since his father's death in 1933 of the full interest yield by the entire Ellerman posses- sions.

Under his father's will the full fortune only comes to him when he reaches the thirties.

NEW CHAPTER

In the Ove years since, 1933 a new chapter has been added to this most remarkable of all, the great British fortunes.

has resulted in a rise to a total at present of something in the region of £60,000,000.

خرید

Toledo, O.

Frank Selberling, Jr., scion of the Akron rubber magnate, has bleycled his way through art centres of Eu- rope and into a job as an assistant to the director of Toleda Museum † of 'Art

Group photograph taken of the Chinese Engineering Society at the St. Francis' Hotel recently-Royal Studio.

At this Agure it is by far the tertains on a scale he never attempt- greatest fortune in Britain, and pro-ed before,

When the late Sir John Ellerman bably in Europe. There are indeed The attachment between the old died his millens were mainly in few fortunes in the world that equal man and the young one was very close. When Sir William died sud- shipping, real estate, brewery and it

When Sir John Ellerman Inherited denly in Nottingham last month, newspaper shares. But in addition there were vast interests in scores the fortune on his father's death his Sir John hurried there by motor-car. of industrial companies, and huge financial education had barely begun. He felt a great personal grief and sums of cash in the banks which had That was where the importance of himself arranged for the body to be brought back by road. He followed death Sir William Cox lay. accumulated agninst

Sir William, who had risen from behind in another car.

Sir John now It took three years to complete a minor part in the Ellerman oT-|

intends to de- jegate

Sir some of

William's position of great; the tally of the estate, but in the ganisation to epd It was sworn at £30,084,000, power, quickly won the confidence powers' to one or two men he can

This was

abnormally

trust. low of the shy heir whom he had known estimate due to the fact that Sir John since babyhood.

One of these is had died in the-course of the slump

been duties.

John

BA

These trustees are young Sir John trustees. If Sir John manages them himself, Mr. Frederick George Burt as part of his personal affairs he (the late Sir John's confidential will do so without taking any pficial secretary), and the Debenture managing directorships. Securities Investment Trust Com Certain recent Investments in pany, Lid., of which eighty-two-

newspaper shares mado by Sir year-old Sir Miles Mottinson, KC, John apparently on the advice of is chairman Sir Miles is considered Sir William Cox, have not been

too happy. the greatest trust expert in the City

One block of shares of London.

have fallen to nearly one-sixth of the value at which he bought them.

A fourth name should really be added to the trusteeship, This is Mr. Hubert Stanley Holden, manog-

It is probable that when Sir John ung director of the Ellerman Lines, has a fuller income at his command Ltd., the great Ellerman shipping he will allow large sums to accumu-

Sir John learned to lean on the six-year-old Me Rely to be thirty-expert and the man who has more tate in the banks, as his father did,

period when values were low, round advice and great experience of At one period a few years earlier Cox. He was able to retire into Sir

himself valued his quiet privacy. estate at the colossal figure of £71,000,000.

COMING OUT

Raphael de Sola, his brother-in-law. Mr. de Sola is a financier, with shipping interests both in this country and in Indin. He has already handled some of the Ellerman Investments, Death duties of £10,000,000 were During the last year or two, how- The complicated control of the paid, which left the present Sir John ever, he has begun to come more Ellerman millions has never been understood by the general Ellerman, then about twenty-four out of his shell. He is now visiting clearly years of age, with a starting fortune more frequently the offices in Moor- public. It may be intereting i 1

£18,000,000.

gate, from where the principal Eller- clear up some of the misunderstand. Since then there has been an man concerns are directed. Further Ings.

"When the late Sir John Elterman astonishing rise in values which, evidence that he intended to lead the aided by the fact that Sir John life of a millionaire was his pur-made his will he appointed three

1031

year of 20, Kensington trustees who were to manage the Ellerman lives very frugally and chase leaves his wealth to accumulate, Paláce-gardens, There he now en-estate until his son was over thirty.

of

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AUSTRALIAN BUTTER

other man in Britain.

thi

shipping responsibilities than my The first Sir John Jald the founda- Sir Miles Mattinson, Mr. Burl and Lions of his colossal fortune by own- Mr. Holden are the only directors ing ships. Shipping is still the most valuable branch of the Elterman of the Debenture Securities Invest-

Interests. ment Trust. These turce › men, with Sir William Cox, formed the Lines controlled by the Ellerman Inner "brains trust" of the Elterman millions have 700,000 tons at sea, the

largest shipping combine in esmpanies.

The will directed that any matter country. Sir John owns 104 large of importance in relation to the ocean-going steamers in one Eller- Ellerman estate in its entirety was

of his soaring As an instance wealth; the profit earned by Eller- Between two and. three million

mon Lines,

In 1937 Lich, pounds were handed over for Sir £1,177.906. That was ti per cent. John's personal use immediately more than in 1930, and the 1938 pro- on his father's death. He has had it was 23 per cent, more than the other large sums, amounting to year before that,

lo be dealt with by the trustees.

bוכן

company alone.

was

Abrary, Supres

DO FISH SLEEP?

Wo are genuinely sorry for our goldfish.

He has nowhere to lie down, except on the hard glass door of bla little bowl." And he yawns all day long, as if even the crispest ant's egg would bore him to tears,"

The one great advantage of being a fish is that a fish has no hips. How cruel to one's hips is an unyielding mattress!·

The Troul that wouldn't rise,

CAN YOU

SLEEP

AT

NIGHT?

YOU WILL, IF YOU USE THE

"EVENREST"

with STAYOUNG'S '.

MATTRESS

LUXURY INNER-SPRING UNit Price

$8950

Indian Fakir protesting against substitute for an "EVENREST" Mattress,.

Whiteaway, Laidlaw & Co., Ltd.

about another £3,000,000, since Sir John Ellerman, the master of S

then. The investment of most of

this personal fortune of £6,000,000 the sixty million fortune, is now was one of the duties of Sir W- twenty-nine.

Ham Cox.

SAFE

CAB DRIVERS SAN FRANCISCO. Seven, taxicab drivers of this city for having driven 700,000 miles_In_ wore presented with gold watches

The will "trust" is distinct from the Ellerman Properly Trust. Near- ly all the share capital of the Pro- perty Trust company belongs to the estate which the "will trustees" con- trol. In addition, other large real estate possessions are also controlled jave years without incurring even a by the trustees, although Sir William Cox managed many at them.

scratched fender or dent in their machines. However, while taking full credit for their own driving, they pro- The management of these estates admitted that luck alone had will not have to be considered by the bably saved their machines.

SIR JOHN'S PART

Curate in Train Smash

·

Missed His Wedding

On the way to Eastbourne for his wedding, the Rev. Edwin Stratton, curate at St. Matthew's, Wolverhampton, scrambled from the wreckage in the Hatfield train smash recently and endeavoured to get to London by coach.

At Potters Bar.he collapsed and was taken to the Cottage Hospital, where he was detained for observation.

It is suspected that Mr. Stratton,, man to go to Potters Bar, whose home is in Biggleswade, has internal injuries.

BRIDE'S DASH

"We were able to advise the vicar

of: St. Michael's, but a number of guests arrived at the church. Find- His bride-to-be, Miss Elle God-ing no one there they came on here

couse... dard, of Gore Park Road, Eastbourne, to find out the

"After Elsie had gone a telegram dashed the hospital from East-

to. bourne when she heard the news. came from Mr. Stratton saying that

at

REPULSE BAY Hotel

Geo. Pio-Ulski's String Quintette

every SUNDAY for Tiffin 1 p.m. to 2.30 p.m.

Fred Carpio's Dance Orchestra.

every WEDNESDAY for Dinner

9 p.m. to 1 a.m. -

A la Carte & Table d'Hote

They were to have been married he was delayed brit next day, THE HONG KONG & SHANGHAI HOTELS, LTD.

at St. Michael's Church, Eastbourne,

and would be coming next

Miss Goddard, formerly an nusist Mr. Stratton was standing in the ant in an Eastbourne store, was

corridor of the wrecked coach when dressing for the wedding when a the trash occurred.

Bor telegram came from Potters

Hospital.

JUMPED OVER FENCE

He Wus thrown flat in the corridor "She collapsed with the shock," and probably this saved his life, be- her mother sald, "When she re-cause both sides of the carriage covered she hastly dressed and were enved. in; and he was left just dashed off in taxi with the best a small aperture through which he

was able to crawl out,

He ran from the track, scrambled.

The Lambeth Walk up the steep snow-covered banks of

Passes Bath Test

the cutting, jumped over a wire fence

and boarded a passing motor-coach

bound for London.

THE Lambeth Walk was "red" at "He told me," said Captain John the historic Assembly Rooms, Bath, Metcalfe, a passenger in the train, recently and won.

"that he reckoned, he would not, be.

It had been banned by the chal-very late for his wedding." man of the entertainments" - sub- committee, Alderman Bateman, without the knowledge and authority.

of other members, and the decision Was resented,

deference to

The committee, in public opinion and ridicule revoked the bon.

̈མ་

£50,000 SPENT Experts, including the makers of the spring floor, attended a dance in the Assembly Rooms to sde whether damage to the rooms, on which £50,- 000 was recently spent, was caused by the dance, také je danas se von H They stated that the crack in the plaster was 'not? taused by undub, vibration as a result of tho Lambeth Walk>

PEPSODENT

TOOTH PASTE

AND

POWDER CONTAIN TRIUM

FOR GREATER

CLEANSING POWER

COPIES OF

PHOTOGRAPHS

by "Staff Photographer"

appearing in the

"SOUTH CHINA MORNING POST"

"THE

and

HONGKONG TELEGRAPH”

may be purchased

at the Business Office

The Hongkong. Telegraph, Morning Post: Building, Wyndham Street.

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