River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1893-07-06

him. A conhrmatory dispatch was re-
eeived at 2:I5 p. IN. The message stated
that Mr. Drexel had slight attack of
pleurisy, but recovered and was then
seized with apoplexy, from which he
died.
The announcement of Mr.. Drexefs
death occasioned the greatest sorrow
among both bankers and the general
public here and in Philadelphia. The
members of the Philadelphia banking
house, presuming on the authenticity
of the report of Mr. Drexel's death, said
that the death of Mr.. Drexel will
not affect the business of that firm.
Mr.. Drexel, it is said, made provisions
fol The inevitable some years ago, and
his money or the greater portion of it,
will remain in the firm. His interest
in the firm of Drexel 81 Co. is estimated
to be more than $4,000, 000 Mr.. Drexel
is said to have arranged his affairs
more than two years ago.
Mr.. Wright. one of the managing
directors of Drexel. Morgan & Co.,
cabled J. Pierrepont Morgan, who is
now in London, the news of Mr.. Drex-
els death, and says that Mr.. Morgan
will go at once to Carlsbad and with Mr..
Harris, who accompanied Mr. Drexe
abroad, will make preparations to
have the body brought to this country.
The body of the dead financier will he
placed in the Drexel mausoleum in
Philadelphia, where other members of
the family rest. This mausoleum is
one of the finest in the country and
was built about twelve years ago.
MIR. DrexeIs fortune, estimated at
from $40, 100000 to s35, ZOO. 900, will re-
main in the family, but it is said that
he frequently expressed the intention
of leaving substantial donations to the
Drexel college in Philadelphia. which
he endowed with $1,000 900, and the
home for printers ut Colorado Springs,
which he and George w. Childs jointly
endowed.
Mr. Drexel was one of the most
prominent bankers of this country. He
was at the head of the firm of Drexel
& Co, in Philadelphia, and was part
ner in the New York house of Drexel,
Morgan & Co. and the Paris bank of
Drexel, Harjes & Co. The banks in
which he was interested also main
tanned close business relations with j.
5. Morgan & Co.. the London bankers.
The various Drexel banking houses
have always been money-fIrnishing
establishments. They have conducted
careful and conservative business in
supplying the capital for private and
corporate undertakings, and have in
the course of their history en-
gineered successfully many financial
operations of far-reaching interest.
Anthony J. Drexel always took
deep interest in the affairs of these
establishments, and much of the sue
cess which they enjoyed has been due
to his sagacity and keen business in
stinct. Mr.. Drexel had a quick percep-
ton, and his ability to at once com
prehend the chief bearing of the prop
osition at hand enabled him to prompt
ly exercise his Judgment.
Mr.. DreXel was the son of Francis
Martin Drexel, a native of the Austrian
Tyrol, who to avoid one of Napoleon
Bonaparte's conseriptions came to this
country and settled in Philadelphia.
The elder Drexel founded the great
banking house of Drexel e Co., in
Philadelphia, in 1887. The Paris branch
was founded in 1868, and the New York
house-Drexel, Morgan & Coin 1871.
Anthony J. Drexel was born in Phil
adelphia in 1926, and during the greater
part of his life was at the head of the
bank in that city founded by his father,
having been identified with that insti-
tuition ever since he was 10 years of age.
His brother, Joseph w. Drexel, who
was the leading spirit in the New York
house, died in that city in 1888 Both
brothers were illustrious examples of
wealth combined with whole-hearted,
practical philanthropy.