1939-05-11 — Page 2

Thursday,

HONGKONG TELEGRAPH

May 11, 1939.

By

How To Make-And Keep-A Million: BY A VERY

RICH MAN

You Must Be Honest In Your Dealings And Simple In Your Tastes

When Your Dreams Come True You Will Be Disappointed

(By A CORRESPONDENT)

A MAN who controls £30,000,000 capital and who in one group of trust companies alone daily safeguards the savings of 100,000 investors, has just turned eighty-four. His hair is white and scanty, his gentle face is that of a very old man, yet his brain is alert, his memory fault- less, and his words chosen with the precision of a judge.

In his long Ke, before he left law for the City, he has been a com- merelal barrister and has sat as

Recorder.

fin

State will take more than half of it in death duties, another ten per cent. in.legacy duties, besides making him pay nearly two-thirds of his income while he is alive in income-tax and super-tax,

At eighty-four this man is credited among fanciers

ns possessing the soundest judgment in the City of

"In any case millionaires 10-day London.

don't know what they will be worth Ilis companies have weathered de--don't even know if they will still pressions.

advice ragerly be millionaires-more than two years) sought by some of Britain's richest ahead. men.

"Despite all this, the millionaires | He says he is not a mililonaire of Britain are the most generous himself.

people in the country. They give at least 10 per cent. of their incomes away to charity. tributery year £15,000,000 is

But this master brain behind so much widely distributed wealth has studied the mathematics of making millions.

I saw him last week in its Victorian drawing-room in Kensing ion, after his usual day at his office- strinding crect with his back towards a glowing fre, springing up on his toes and down on his heels in lively emphasis of a point-he felt in the

can-

to the maintenance of the voluntary hospitals alone,

"ATOR!

millionaires I have known don't relish their children becom- Ing millionaires by inheritance. They fear that it will paralyse their energies."

Since money for its own sake no

mod to talk Just a Jille about longer brings him happiness, I asked

him what does.

money.

ANXIETIES THAT killed

It has brought him disillusionment. To all rich men who have spont half a century in umassing wealth has "My chief satisfaction," he said. came, he says, this same sad dis-"s doing the day's work. In my illusionment, a sense of emptiness case, If I do that work well I know and unfalfilment.

that the security of tens of thousands "After the thrill of acquiring it of investors will be protected. and watching i

has long

My

second claim to satisfaction is he said, "what satisfaction is enjoying good health. No man has passed." there in having a vast sum of money? become a millionaire by his

"Unless you are a miser and want effort without carefully safeguarding to convert all your riches into gold his health.

grow

own

cains so that you can count them, He would not be able to stand the Is not much satisfaction in strain of toiling for his riches. His there having credits at the bank, bits of mind would never remain clear for forming the sound judgment which paper, slure certificates.

guide itim.

"When you are okt-and all milijonaires who make their for- tunes themselves live to grow old there is little meaning in money itself, although, as the late Sir John Ellerman could at one time have done, you can write out a cheque for £10,000,000 with little or no disturbance to your Investments, "There is pleasure in giving money away, but is a rule the richer a man gets, the more closely he scrutinises what purpose he is giving it away for. "He remembers the toll and anxie- ties that the acquisition of his millions! lins caused.

MOST GENEROUS "And he remembers, too, that if his fortune is over £2,000,000, the

must

"He could never live long enough to amass a fortune that would last and, if he neglected his health once! success was reached, he would be in- capable of surviving the worries and responsibilities which are is in- escapable burden.

UFS

Critically in a Hollywood hospital recently was Della Bogart, 17, Alm actress, attacked by an unidentified assailant who fractured her skull. Brutal assault was similar to one in which Anya Sosoyeva, dancer, was killed recently. Above, Della is visited by her parents, Mr. and Mrs, Harry Bogart,

Petty Officers Wanted

Expansion of the Navy has led to severe shortage of petty officers. The Admiralty announced recently that ships would be commissioned or recommissioned for sea with leading sea men acting as P.O.s and C.P.O.s in proportions up to 15 per cent. of normal complement in those ranks.

And here is proof of that argu- ment

Rockefeller lived to ninety

Andrew Carnegie was, eighty- four,

Beuen.

Lipton clghty-one,

EMPIRE

NEWS

RULERS' REPLY TO THE VICEROY

NEW DELIII

The address of the Viceroy of India, the Marques of Linlithgow, at the annual meeting of the Chamber of Princes recently has created a profound impression.

The Congress Press regards, his frank advice to the rulers to place their Administrations above criticism and to ensure proper opportunities for their subjects to ventilate their Krievances, as a gesture before the talks between Lord Linlithgow and Mr. Gandhi.

The reply made by the Maharaja Jam Saheb of Nawanngar na Chan- cellor, on behalf of the Chamber, Indientes, however, that the rulers cmphasise the distinction between administrative and constitutional re- forms,

The

Chancellor declared that their Highnesses would not be found wanting in efforts to improve their Governments, and voiced the will- Ingness of the smaller states with limited resources to consider a voluntary combination for certain administrative purposes, as long as it was not Injurious to their in- dividual sovereignty, NEW ZEALAND

BIGGER PENSIONS FOR 100,000

In readiness for the inauguration of the new social security benents

who are

"I could name many financial ad-scheme, the Pensions Department is venturers who have built themselves supplying special forms for those palaces only

not al present receiving And themselves 10 crashing soon after.

pensions or allowances.

total of 202,650 men, women "An income of £30,000 should be und children will benefit, of whom enough for a millionaire to live on. 100,000 receive benefits now, which Vanderbilt eighty-three.

"Compound interest on savings is will automatically be increased from Lord Trent (Jesse Boot, of Boots the key to Increasing your riches. 23s. 6d. to 30s. Chemists) eighty-one,

An investment al 5 per cent, doubles British Care Bought-Britain re- LOTG Ashton

(£10,000,000) itself in fourteen years at compound tained its big lead in the New Zea £13,000.000 Gut:mess

market land motor chr fortune) interest.

last year. Of the 28,380 cars Imported, 17,030 "The most successful man is the were from Britain, 7,735 from Cand- (£10,000,000)

man who makes the fewest blunders, da, 2,718 from the United States, and I have lived a long life, my experi: 297 from Europe. The total value of (£35,000,000) once goes back a great distance and motor vehicles and parts sold by my financial vision Edea forward, per Britain to New Zealand during the (£2,000,000)

haps, more than some men's. But year was £3,140,275, I do not claim to be prophetic.

Southern Rhodesia "Luck is only a small factor in the life of a millionaire. Judgment, self-denial, industry and health are the things that count.

eightil

Lord Ashton

righty-eight,

Sir David Yule seventy.

Lord Runciman ninety.

Str Joseph Robinson (£10,000,- 000) eighty-nine.

The late Sir John Ellerman, the £40,000,000 king of English money "Keep your health if you want makers, died at seventy-three. to be rich and live. Don't let your But the old nan, with his back to millions go to your stomach. the fire, argued that Ellerman's was Avold sumptuous meals, fal cigars a premature death. He succumbed champagne.

to the unfathomed anxieties which "And if working. That health is good, keep crowded in upon him.

is one reason why I Ellerman could not stop making still go to my office every day.

money, for if he stopped, if he lost "I'm strongly opposed to com-a million pounds, it might mean un- pulsory retirement at sixty or sixty-employment and disaster for thous. five. If they are healthy, men are sands of employees. then at their best."

This aged man, who has seen so many-fortunes-von-and-lost, told

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"There is more gambling on the The first reactions to the report on the Stack Exchange to-day than, say, of the Royal Commission two generations ago. But fortunes Claser Co-operation of the Rhodeslas made by gambling rarely endure. and Nyasaland, is satisfaction that "Millionaires in my experience the Imperial Government is recom- have not gambled to become rich., mended to accept the principle of Speculative fnvestment

not eventual amalgamation of the three gambling.

territories.

If the Imperial Government and the greatest fortunes have been made ment agree to set up the recommend

"My observation proves that all the Southern Rhodesian--Govern-] A NAT "It is impossible to become rich by playing the game according to the ed inter-territorial council, this will and stay rich by dishonesty. You rules of the game for any particular keep alive the question of amalgamn-. will not keep your riches.

industry, will lose your reputation in the long run and every hand will turn ugainst you.

You

"A rich man who wishes to be- come a millionaire must not live extravagantly. He should not main- taln several expensive establish- ments and large staff of servants,

CRASHED SOON AFTER "Ellerman

tion.

"At times it may be a harshi The report may be regarded as a game, as in the case of Rockefeller milestone on the rond to the estab and Carnegie, but the generallishment of an eventual Dominion morality of every market is sound, of Rhodesia Southern Rhodesia, for if I were not the market Northern Rhodesia, and Nyasaland- would go

of to everlasting smith which many hope to see as, one creens.

the member States of a Federated British Africa-South Africa, Rho-

"The City man of to-day is RB desis, and East Africa. honest as his counterpart filly years The acknowledgment of Southern had one magnificent ago. He els up to the morals of Rhodesia's claims to the northern house in South Audley-street, Moy-his calling, and those morals in the portion of Bechuanaland is also wel- fair, but only one house.

City of London are high,"

comed.

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TO-MORROW THE KING'S

Get a grip on yourself

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1914...

WAR BREAKS OUT!

Vornon Castle is thinking of onlisting in 'the R.A.F. Irene is fearful.

A poignant scone in a GREAT film

The best of all Astaire-Rogers pictures

“THE STORY OF VERNON & IRENE CASTLE”

DISTILLED OVER 10 YEARS AGO BY

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HAL ROACH p

TOPPER TAKES A TRIP,

CONSTANCE starring ROLAND

BENNETT YOUNG

...

with BILLIE BURKE - ALAN MOWBRAY

MAL, VERREE TEASDALE FRANKUN PANGBORN ALEXANDER D'ÁRCY. AR. ATLAS (The Thin Man" Dog) Dirced by NORMAN Z. MCLEOD Screen Flybylactiam, Eddie Merchand Corey Ford, from, pe fooral by Thorne Smith HILTON H. BEH EMartivo. Pri Zuter. Released more United Artists.