The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-15
WALL STREET BROKER
HAS GONE TO ABYssINIA TO START
A BANK.
Is Carrying Many Valuable Presents
to King MeneIik and His
Wife.

SDANCd SldNto SohSdA 1chcE6 III
whose mission" to Abyssinia TO establish
trade relations between Menelik IL and
Uncle Sam has attracted considerable news
paper attention on both sides of the Atlantic.
is likely TO find, when he gets there, that
he has been ''scooped.' to use a Western
newspaper phrase, by an unofficial New
York broker. William Henry Ellis, one of
Wall streets well-known brokers', started
some two months ago, with little beating
of drums or flourish of trumpets, on a sim
liar expedition on his own account. and is
probably on the scene by now. He did not
go with a marine guard. nor yet with an
escort of gunboats. No United States lieu
tenant was detached from his ship to ar
range the details OF Mr.. Ellis's journey. He
went simply about the legitimate business
of a Wall-street broker, seeking whom he
might devour. Not content with the nice
little white bar-lambs that occasionally
stray into 1.-The street" he has gone out after
that tough old black sheep, Menelik III, of
Abyssinia, the ablest native monarch that
civilization has developed In Africa.
Mr.. Skinner expects to spend Christmas
in the capital of Ethiopia Mr.. Ellis, ac-
cording to the managers of his Wall-street
O-AAOCs NoINONo ~ eB1AAa IN CT lOAAA<
having completed his business at the capital
of Ethiopia. Mr.. Skinner has said a good
deal about what his expedition is going to
accomplish and about the wholly private
nature OF Ellis's expedition. Mr.. Ellis is
saying nothing. He's probably busy just
about now saving wood.
William Henry Ellis is sometimes called
1.-The Moor of Wall Street" and is rated
as many times a Millionaire. He has gone
to Abyssinia with no set idea of what he
is going to do there, but with a very def
mite idea that he can do something, or
some one, probably. 1t Is a Ian of great
opportunities; 1t has had a most progress
i've native ruler; it is practically the only
part of Africa that has been able to main
tain itself a free and unprotected native
empire. Every other African state is a
protectorate of one or another of the Euro
pean nations.
For some time past Mr.. Ellis has been
diligently informing himself concerning
Abyssinia, its condition and it's needs. He
has been in communication with represent
atives of Menelik, and has become con-
vinced that 1t is a land where a poor Wall
street millionaire may turn an honest penny
| several of them, in fact-if he gets there
first. Mr.. Ellis means to get there first.
He started early in September, and is now
well on his way, having acquired such
a start of all possible competitors that he
Will easily distance them for the prize.
The fact that he does not know what the
prize will prove to be rather adds to the
piquancy of the situation. He thinks it
| may turn out 10 be a national bank. Then,
again, II may not.
SEEMS TO NEED A BANK.
Abyssinia seems to be ripe for the estab-
lishment OF a bank. She has no banking
facilities. and yet she has considerable
trade. From two Of her principal towns
the exports for 1900 were estimated at close
upon 5000. 600. and their imports at nearly
a million more. But the Abyssinian dollar
is worth two shillings, or about SO cents.
She exports civet. coffee, gum and wax in
considerable quantities, and as much of her
gold and ivory as can escape the clutches
of Menelik. who takes heavy toll as they
pass by. There are lots of things she could
export, but does not bother with. For in
stance, she has rich iron regions as yet
undeveloped, and she has forests abound
ing in valuable trees, and cotton, sugar
cane, date palm. and the vines thrive well
in many districts, but have never been seri-
ously cultivated. She produces hides, skins
and tobacco. though not as yet in sufficient
quantity for export. In any one of these
Mr.. Ellis may find the golden opportunity
for which he is looking.
She imports American, English and In
dian cottons, wool and wooden goods. Tur-
lery and Italian and Swedish matches.
About 81. 100000 worth Of American cotton
textiles are sold there annually. and Britain
sends about 500, 900 worth of coal there
i0Co thdi ~
peals chiefly to Mr.. Ellis, the idea of es-
tablishing a bank there which shall handle
the existing trade and so facilitate opera
tons as to greatly increase it. But he is
not SO narrow-minded as to be unwilling
to consider any profitable investment out
side OF the realm of high finance
Also Abyssinia needs a mint. At pres
ent her wealth Is stored In the Kings
treasure houses. Her currency, such as II
is. is coined in France. 1t would appeal to
the romantic and picturesque idea of even
a Wall-street broker to establish a mint
for the great-grandson many times re-
moved OF King Solomon and the Queen OF
| Sheba. And 1t Is that-no less-that Meme
lk claims for himself, "a direct descent
from Menelik I, son Of the Queen of Sheba
and King Solomon" Is 1t any wonder that
Rin Sails an nim hion of gSdah Nssu ana Is II s6 OF
wonder that the idea Of commercializing
Abyssinia and making 1t the great country
| peals powerfully to an imaginative Wall
street millionaire whose thirst for millions
is yet unslaked?
And Abyssinia is the only part OF Africa
that looks as If 1t could fulfill that promise
1t is the only native state of unquestioned
independence. The beginnings of its history
are lost in the mists of Biblical and elias
| steal tradition. Its modern history, SO far
| as Europe knows II, begins like that of q
| good part of Africa. with the craze that de.
veloped early in the nineteenth century to
discover the sources of the Nile.
| In 1850 an glo-Abyssini treaty was
| signed. In 1856 Theodore was crowned EN-
| peror. Shortly after two British ENJOYS
were Killed in a civil war. and subsequently
| Theodore decided that it was desirable tc
be on friendly terms with Britain. SO he
| dispatched a letter to the Queen asking fol
a friendly alliance.
LESSON TAUGHT BY BRITAIN.
The letter probably reached some official
p%igeonhole or waste basket. AT any rate
it was never answered. a piece of bad man
ners which Theodore resented by casting
Captain Cameron, who had in 1862 succeed
ed the slain ENJOYS, into chains. Another