Evening star., 1909-06-12
Richest Man in London
Lunched FrugaI|y on Buns
Special Correspondence of The Star.

LONDON, May 90 1899.
OWN in what corresponds to
Wall street in London, there
used to be, until few weeks
ago. a man who was seen at
lunch time with apple in
one hand and a penny bun in the other.
walking along Lombard street. abstract
edly taking a bite from one and then from
the other. oblivious of the fact that
smartly dressed brokers were staring at
him. A few of the bigger brokers knew
who he was, and that this frugal lunch
was due not to stinginess, but to sim
plicity of taste and hatred of ostentatious
money spending. They knew that he was
liberal giver to charities. and that the
five or six million dollars he had in
herited from his father was being thrift
lily spent on safe securities when prices
were low But they didn't know that
he was the richest untitled citizen OF
England.
This week this man died. and when
little paragraph was given in the
obituary columns to Charles Morrison,
most readers wondered who he was, and
why the papers gave him any space at
all. Today. it appeared that the newly
improvised government death and sue
cessiou duties on Morrisons estate will
net the government and tighten the tax
payers of about S1l l,J0o.ovo. this being
the percentage of tax estimated on
approximately $6O,UU,ooo. amassed SO
quietly by this unostentatious investor
In the Dry Goods Trade.
The foundation of the Morrison fortune
was laid in the dry goods trade. His
father, James Morrison. was Scotch
farmer lad who came TO London and got
a job in a wholesale dry goods house.
After d while he went into business for
himself. and when he died he left 5000
600 to each of his four children. Charles
continued for some years at the head of
the business, but when it was formed
into a company he gave up all connec-
ton with it except as a shareholder, and
went in for finance.
His operations were not of the spec
tacular kind, however. He operated con-
servatively, buying gilt-edged securities
when they were low and selling when
they were high. He seldom held any
thing long. His profits were reinvested,
and although he had an income it Is
estimated of between Sioo.Go0 and S5Oo.Ooo
a year, ne seldom spent more than S5O,UO,
and most OF that was devoted to charity
and to keeping up the beautiful estate
him by his father. He gave 5000 every
year to the Kings Hospital fund, and
largely to other objects. 1t is related
also that he gave away about So day
in srpall charities in connection with
his estate.
Loved Pictures ana BOOKS.
In addition to stock operations Nor
rison made money in real estate. He
owned two OF the biggest Office buildings
in the financial district, and some very
choice blocks in other parts of London.
Morrison's two passions next to making
money were pictures and literature He
had one of the finest collections of pic
lures in England at his house at Basil
a. of "
by his father but he added 10 it from
time TO time. always purchasing judi
cously and with rare good taste. Among
the choicest of his treasures ls one OF
the largest and finest pictures ever paint
ed by Turner. 1t is ten feet long. He
also possessed a smaller Turner. which
had been described ty a famous critic
as IAN enchanting picture; fine Con
stable, and works by Wilkie. Stanf1eld,
Collins and other English masters.
Leonardo magnificent Rembrandt
..Hendrickje in a White Cloak one Of
the finest known Hobbemas and Jan
Steen were among his collection
He was an omnivorous reader, and he
had an encyclopedia memory He often
surprised his friends by quoting long
passages from books which he had read
as boy or young man, and he also
did little work as an author. In 1904
he published book on The Relations
Between Capital and Labor which was
carefully reasoned treatise on the sub
ject from the point of view OF the capl-
taliat. Morrison took a keen interest
in social questions. and although he was
q strong opponent of what he considered
the errors of socialism he was an ad-
vocate of the cooperative movement.
and the views which he advanced were
considered radical in the days when the
book published In 1909. when he
was eghty-tive years old. he published
a book entitled Doubts on Darwinsm
by Sem-Darwinian, which was also
a careful essay on the Darwinian theory
and its modern notifications
Although he was known to a few as
the richest man in the city. Morrison's
appearance was practically unknown to
the public He took no part in any pub
lie movements and his advice was never
sought on finance, for the reason that
he always refused TO discuss 1t. He was
willing enough to talk to his few in
Inmates on books and pictures. but he
tabooed the subject of money.