The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-07-01


stances This news was, in itself, of some
degree Of comfort to his griefstricken
family, who were Immediately apprised of
its receipt by Mr.. Childs. Two of Mr..
DreXels sons were in the bank all day
| Colonel Anthony j. DreXel and Mr. George
| w. Childs Drexel. The other son, Mr.
John r.. DreXel, is at Bar Harbor, Me-,
with his wife, and the only surviving
daughter, Mrs. John r. Fell, is with her
husband at their country seat at Fort
| Washington, Pa.
1t is more than probable that the family
will accept the thoughtful offer rendered
| by Mr. Clement A. Griscom, president of
the International Steam Navigation COM
pany of the use of any of the steamships
of his line to convey the remains of Mr.
A. j. Drexel to this country, and to make
| special arrangements for the convenience
of those who will comprise the funeral es-
cort.
1t Is stated at the office of Messrs. Drexel
| & Co. that the death of Mr.. Drexel will
make no change whatever in the business
of DreXel q Co., and will not affect in any
material way any of Mr.. DreNel's enter
prises outside of the banking business. OF
| course the value of his immense property,
real and personal, or its disposition, will
not be known until his will has been
opened and read. This will not take place
| until after his interment in the family
| mausoleum in Woodlands cemetery
His death removes a remarkable figure
No man in Philadelphia was better known
or more highly respected. Either in bust
ness or in private life, the news of his
death was, therefore, great shock. To the
many it was "a surprise, but to those in
timately acquainted with him and his fam
lily it was not entirely unexpected. In all
circles expressions of regrets were voiced.
Mr.. George w Childs, the lifelong friend
of the dead tinancier, was deeply affected
as he spoke of Mr.. Drexels death, and his
voice wavered as he said; II would rather
it had been myself that had died-much
| better me than Mr.. DreXeln
Mr.. DrexeIs Career.
Anthony Joseph Drexel was born in
Philadelphia in 1926 His father, Francis
Martin DreXel, who established the large
financial institution of which his son was
| the head, was a native of Donbirn in Aus
trian Tyrol, where he was born in 1899,
coming to America in 1917 The house of
Drexel & Co. was established in 1887
After the death of f. NJ Drexel in 1863
he was succeeded by his two sons, A. J.
and Francis A. DreXel, under whose man
agement the firm became one of the most
successful in the country The New York
| house of DreXel Morgan & Co. was
! founded in 1850, and the Paris institution
of Drexel, Harjes & Co. seventeen years
later.
Anthony J. Drexel entered the bank
when he was 10 years old, aud before he
had finished his studies in school. The
history of the firm from that time is prac-
tically the history of his life. To his di-
| recting hand, in large measure, has been
attributed the wide influence and soliditv
of the firm In all negotiations touching
upon the supplying of capital he had a
quick and intuitive perception, enabling
him to arrive at decisions without DELAY
In all his operations he as regarded as a
just and generous man, and he always took
notice not only of the interest of his own
banks, but Of that of those with whom he
was dealing
The firms he was interested in have more
than once been called upon to stay panic
in critical times At the opening of the
Franco-Prussian war in 1870, a large num-
Der of travellers and tourists having
DreXel letters of credit, We're in Germany,
Switzerland, France, or elsewhere on the
continent. They were cut off from COM
municatio.., and could not travel as the
railways We're seized, In the emergency
the house of DreXel, Harjes & Co. directed
a large amount of gold TO be sent to Cen
eva and other places to protect their
letters of credit. This gave instant relief
and won big praise for the Drexels.
The high character OF Mr.. Drexel won
him many friends, in Phi iladelphia partic-
ularly. He was public spirited and gave
literally to many charitable institutions.
He recently founded and heavily endowed
the Drexel institute in Philadelphia, which
has already gained wide reputation, anG
has been greatly assisted by Mr.. Drexels
warm friend, George w, Childs, who pre-
iented 10 it his rare aud valuable colleo
ion of prints, manuscripts, relics and au
ographs.