New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-05
JUNIOR CLERK TO
KING OF FINANCE
Remarkable Career of Sir Ernest
Cassel, for Whom Peerage
Has No Attraction.

When the story Of empires for the
latter half of the nineteenth century
comes TO be written, the name Of sir
Ernest CaSsel, the famous financier and
owner of Hapsburg. who ran second in
the sensational Derby of 1914. will 'g-
ure largely in its pages. Since 1910,
when Sir Ernest retired from business,
little has been heard of the famous
fnancier. bu; the astonishing form OF
Hapsburg, who started at 30 20 /
against, recalls TO mind the great imam
cier's wonderful achievements and trl-
umphs.
As a matter OF fact the rise of S,r
Ernest Cassel TO wealth and fame Is
one of the most remarkable romances
Of modern industry. Forty-six FEARS
ago a young man of sixteen, whose
father. a small banker in Cologne, had
been unable 10 find room for HIM IN ms
Office, came to England. and soon found
himself seated on tall stool IN Liv-
erpool grain merchants Office as junior
clerk.
WON FAME AT NINETEEN.
In addition to a thorough understand
ing of French and German, he knew
English fairly well. and these adVan
tages and mis- remarkable knowledge
of bookkeeping and close study
of financial transactions, ultimately
brought him under the notice OF MI
Bischo schcim. with the result tha' ~
entered the house of Bischoffshelm q
Go!dsmid. in London. With that hrm
he remained for thirty years.
1, was in the Offices of this firm
that he got his first insight INTO cry
finance. and his chance came when ne
was called upon to disentangle the com
plications of certain business wnicn
had got into difficulties. And, although
at that time he was only nineteen
years old, such was young CasseIs cN-
traordinary aptitude for dealing WIN WIZ,
financial difficulties that he speedily
occomnI;shcd what. even to the head
of his firm, appeared to be an almost
impossible task.
From that time he was marked
man. and one who knew him at TINS
ncriod has said: "You knew you were
with a master mind before he had
spoken ten words. One did not know
which TO admire most-his WONDERFUL
canscitv for work or the marvellous
clarity of his brain
SOME OF HIS TRIUMPHS.
To recount Sir Ernest Cassers tri-
umphs since those days would be mo-
notonous. Launching out on his own
account. the first task he set himself
was the Strengthening out of the imam
ces of Argentina. Then he made the
RAILWAYS of Sweden and Mexico pros
porous and paying. raised huge loan
for China after it was defeated by
japan. supplied the sinews OF war lot
the great Nile irrigation works. effect
ed the amalgamation of the Vickers-
Maxim firm and the Barrow Shipbuild-
ing Works. and helped considerably IN
starting the Central London Railway,
from which London's system of tubes
has grown. The result Of all this was
that before he was fifty he was credited
with being a multi-millionaire.
FRIEND OF KINGS.
As MANY readers are aware, Sir
Ernest was a close personal friend OF
the late King Edward, and he also en-
lows the friendship Of the German En-
peror II was through his personal
friendship with the late King that Sir
Ernest became interested IN the cam
naion against consumption. In 1902 h."
placed the sum of 100000 at King Id.
wards disposal for the purpose OF
founding a fully equipped consumption
sanatorium.
This. however. is only one Of many
benefactions on the part OF SIR Ernest
which have made him even more IA
nous as a philanthropist than as a
financier.
Then. again, he is an enthusiastic art
patron and sportsman. since ms nrst
annearance in the list OF winning own
crs. in 1896. he has taken a growing
interest in the turf, and has fine
establishment at Newmarket
II is an open secret that. a peerage
has becn his for the asking for the last
few years. but Sir Ernest is quite con-
tent TO remain a knight. Personally,
he is a man Of quiet, retiring dispose
ton. who seeks no publicity or honors'
-Tit-Bits.