The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-05-11
By Dabbling IN American Sc
curities Edward Is Reported
to Have Cleaned Up About
Five Millions.
SOLD REAL ESTATE OF
MOTHER IN NEW YORK
And Trusted Proceeds to Cas-
sci, Who, on a. Single Flyer
in Steel Common, Melted a
Cool Million.

COOJ MlljlOn.
New York. May 11.--NOw that Wall
street has dressed itself in somber
garb. with the Stock Exchange, the
banking house Of J. r. Morgan y Co,
and other commercial Institutions
drared in sable and purple flags half
Inasted on all the principal buildings
the American speculator il asking:
"How much did King Edward make
in his operations ON the street,"
The answer comes readily enough.
and from the most authentic sources.
about $5.OOO.OOO. or f1.O0O.O0O dur
ing the declining years OF his life.''
Favored Real Estate.
King Edward differed greatly from
the late Queen Victoria. Like the AS
tors. Victoria had supreme confidence
In real estate, and In her life time had
acquired through trusted agents in
whom the title was vested large par
cells OF real estate. including some OF
the most dilapidatsd and unwholesome
tsnemsnts IN the city OF New York.
The claG1 q property resembled to
some extent that held by Trinity
church, and the return thereon Wa en-
Ormous.
E1ward had tsus sporting instincts
WSoth6r 1t tack tho fof16 * kY1chfln&,
shootine Or coursino. % The money
derived from the sale Of his mothers
AmericAn property was invested In
An6eican securities.
n Nesal Fashion.
And whom King Edward plunged
IN the New York market he did It
IN truly . regal fashion.
On : flyer ii Steel common 1t was
reported In Wall street today that
prior to the panic Of 1907 the king
cleaned up . clear 81 100000 His
activities were not confined to Steel.
but the king plunged heavily In both
Union and Southern Pacific, and made
vast sums OF money out Of his trades. I"
The monarch had an abiding confid.
ence in the financial acumen of the
late Edward HI. Hartman. and 1t was
not until Hartman, few weeks prior
to his death, had conveyed to his per-
sonal friends his belief that the price
or stocks was too high and that there
must inevitably come q reaction that
the British monarch abandoned Wall
street az . field OF speculation.
AZ . Handsome Profit.
King Edward had practically closed
out all his accounts prior to December
!. last. and In each instance at a hand
come profit.
In his operations In Wall street
King Edward was aided in two direc.
tions. First, he had the advice Of that
astute English flnancier, Sir Ernest
Cassel. and secondly. the good will. to
say nothing Of the "tips" Of American
millionaires thoroughly acquainted
with conditions in Wall street. but
who desired to carry favor with those
who ruled In English society
Tho open sesame In English society
IL Z presentation at court. Where the
American millionaire or banker had
been an aid to the kings advisers In
an American Investment. and especial
" where the venture had turned out
to be successful. It was not a difficult
matter to have swung open the doors
OF Buckingham Palace at kings levet
IN behalf of some OF the Americans
kinswomen.
American Mlillonaires Aided Him.
The 81 100000 King Edward is sale
to have made by his plunge In Stee
common Ii attributed to the goot
offices OF an American millionaire who
had plainly told the British monarch
that Steel was good thing In tht
American market and bound to result
{. in : profit.
Wall street recalls that many mys
terious visits were made to this coun
try by Sir Ernest Cassel, although ex
cept In the innermost circles non,
knew that these 'little Journeys t.
New York were for the express pur
pose Of investing the king OF England,
surplus sovereigns In American secur
ities. usually ON sure tip that tn,
market would shortly assume an up
ward tendency. He generally made hi
headquarters 1t the banking house o
Kuhn, Loeb q Co.
In December, prior to the break Il
Rock Island and long before the semi
panic created BY the slump Of HockinI
Gal, and Iron wall street heard tina
the king was liquidating his American
holdinGs In quiet and inconspicuou
WY and taking handsome profits
when he finally got out It was estims
\ ted that his winnings were not Il
short OF $5OOOsO0O. and 1t the time Q
N NJ death hiE holaings were Of 20 IN
( nnitesimal character - to cause n
a,erM . 10 their disposition.