New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-02
PRINCES TRUST A F|zzLEg
German Mobiles Compelled to
Mortgage Estates.
KAISER'S AID NOT GIVEN
Failed to Make Concession His
Most Intimate Friend
Sought.
IFrom The Tribune Correspondent

TFrom The Tribune Correspondent
Berlin, Oct. 9.-Prince Max Egon zu
Furstenberg, the Kaiser's best friend
and one of the wealthiest princes in Ger
many, is now deep in commercial Difficult
ties, owing to the lack OF support which
his enterprise. the Princes Trust" has
''''''e' 81 ''' '''l''' - many 3
mercial world. The prince is the richest
man In the Grand Duchy Of Baden.
STILL he has done such bad business in,
specializing in real estate and financing -
hopeless concerns that he has been COM
PEELED to float public loan of 100000 ~
and to mortgage the bulk Of his magnin-
cent estate al Donaueschingen (Baden) 20
security. The Kaiser is a guest of the
prince on that estate during the shooting
season every year.
The business experiment begun by ,i
Prince Max Egon zu Furstenberg. to-a9
gether with his intimate friend, Prince,
Hohenlohe, was entirely novel. Both "a,
princes have travelled extensively In the
United States and have brought home
from America the impression that wealth.
only remains and increases If he who
possesses it works. Stin for one AGO
quainted with the habits and conceptions ~
Of German aristocracy, especially aris-
tocracy situated in the immediate vicinity
of the imperial throne. the step taken BY
both princes actually to work" seemed
incredible.
Kaisers Closest Friend.
The leader of the Princes Trust" and
the promoter Of the idea OF running
princely commercial enterprise is Prince
Furstenberg He enjoys the distinction
Of being the only mortal allowed to call W
the Emperor Wilhelm in private to-
gether with some members OF the i'm
perial family
His kinsman, Prince Christian Kraft zu
Hohenlohe, who conducts the business or
the Trust" with him, was worth about
SIS, COO 900, consisting mostly of vast es-
tate in Silesia and rich zinc mines In
the same province. Both were forced by
the disparity between their large estates
and the limited income therefrom to fight
for the actual maintenance of their
wealth. They combined their fortunes
and formed syndicate with threefold
purpose, purchase OF land. exploitation of
lobe zinc mines.
The new loan which Prince Furstenberg
has now been compelled to float shows.
however. that the concern has been dis
appointed in this manifold object. The
land company depending on the Trusts
money mas been badly handicapped during
the last two years by the great crisis in
the German building trade, due to reck--"
less over-building. but the Hohenlohe
mines constantly yield dividend OF IL
per cent Another scheme launched by
Prince Furstenberg was the creation Of a
new emigrant line from Emden to New
York. but the combined opposition Of the
Hamburg American Line and the North
German Lloyd has caused this scheme 10
be shelved.
What is now going to happen no one
knows but II seems probable that unless
some sharp Improvement comes the
Princes Trust will have to be liquidat-7I
ed. Obviously, the belief, which seemed
TO be that OF the trusts leaders, that 1t
sufficed TO be a Knight OF the Black Eagle
TO conduct one of the greatest financial
business concerns ever seen in Germany,
has now been sadly and definitely shat
tered.
Many Millions Squandered.
Had both princes deemed At to apply
for the help OF staff OF expert and
practical business men the mlsfortunes
of the trust would certainly have been
minimized, but doing this would have
been considered by the princes as an alb
dication unworthy Of such high person
ages And now the result is known. I'm
countable millions have been squandered
and lost and the vast estates Of both trust
leaders are mortgaged and partly lost. sf
The princes have also been bitterly dis
appointed by the very straightforward
and Independent attitude OF the Kaiser
toward their undertaking. Whether they
acknowledged 1t or not IL Is known that
they expected his majestys moral sup
port at least TO obtain the concession for
the Emden-New York emigrant line But
the Kaiser refused TO be drawn into the
controversy and ordered the Prussian
government to decide in the interest OF
the nation. The decision was against tie
scheme, and papers friendly to the trust
Immediately insinuated that the Kaiser
was leading shareholder in the Bremen
and Hamburg shipping concerns, which,
OF course, was authoritatively denied. '''i
Prince Furstenberg. however, retains 20 'i
this day his sovereign's friendship and'H
good will, but the Kaisers friendship has
often been threatened by the trusts ext
gencies, and therefore II Is probable that
Prince Furstenberg will as soon as pos
sible and nvenient withdraw from diff
fcut commercial business and return to
his former occupation, which made him
the most conspicuous figure of Germany's
court society and army