The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1916-12-04
Rise to Social Heights Of Frank
J. Mackey, of Chicago,
Recalled.
FRIEND OF KING EDWARD
Great Fortune Reported Made
on High Interest From
Poor.

CHICAGO, Dec. 4.-Preparing
Federal explosion at the root OF the
loan agent business. District Attorney
C1yne announced he would send
special agents to question Mrs. c. NJ.
French, the eighty-year-old widow
Of Reedsburg. Wis. who IL said to be
the nominal head of an Immense chain
OF loan offices.
Mrs. French Is the mother of Frank
J.. Mackey. whose income from the
sorapings OF the poor to pay interest
on small loans has enabled him to
enjoy himself in the society of two
continents. Mrs. Mackey died In
1917; Mackey now is around sixty
From Reedsburg came word that
Mrs. French. because Of her advanced
age, cannot be questioned In relation
to the business conducted with her
that she has always been In Ignorance
OF the true state OF affairs.
Son Ran Business.
q. c. Morse. Mrs. French's nephew.
who 10 vice president OF a bank In
Reedsburg. said Maokey always has
been business manager for his mother
and that little is known OF the real
state OF the family's fortune. Mrs
French Is said In Reedsburg to have
been wealthy before the loan business
was started.
This never has been denied by
Mackey. But Mackey In the past has
referred to his mothers 100000 as n
shoestring" upon which he founded a
fortune OF millions. II IL said Chicago
alone contributes more than 81 900 900
annually to the Golfers of the money
lenders In business In the city.
In former years Mackey was an ar.
GENT polo player. the associate of so.
ctal personages, and was even cred.
tied with being tho companion OF
King Edward VII on several social
excursions. Mackey In said TO own
residences In n half dozen cities, but
recently he has been spending most
Of his time in California.
One Suit Settled.
Mackey's last general public mon.
tion In connection with his loan bust.
meas was In 1912. when his company
was sued by woman whose piano
had been taken from her because of
a delinquent $50 payment He OK.
planned that he came TO Chicago TO
visit relatives, but Il was notable that
the woman was paid $40 In settle.
ment of her suit
Sometimes tho important as well as
the lowly suffer. Mackey once loaned
Mexican mining company S250,OOO ut
10 per cent and took over a quarter
interest In the mines as we'll. IL was
what Mackey called "the rub" DIS.
trict Attorney Clyne said he would
try TO learn ~ the interstate com.
merce laws or tho postal laws were
violated In the conduct OF Mackeys
business.
Golden Returns.
Mackey's rise to financial and social
prominence testifes to the golden re.
turns OF the business. lie began his
business life as clerk In a 81. Paul
real estate office. Hero he saw the
possibilities OF the loan business. He
had the idea, the same idea upon
which the business IL based today.
but he was without capital. He went
20 friends who hdd money. explained
his scheme and In 1878 was able TO
open. under his own name. his nrst
Office.
He made no much money from the
start that In 1882 he came TO Chicago
and started the business that has
grown into his present trust" The
rived from his investments soon
placed him In the millionaire class,
and IL was then that Mackey, prob.
Snl , prSmp, ssss ey lbs tao oei daily, am
name from the company shingle.
Power Behind the Throne.
He and his wife wished TO enter
society. Maekey suddenly disappeared
from the active management OF his
Chicago companies and became what
he Is today-the power behind the
throne. Later he expanded his organ.
ization until Il now operates all over
the country.
Chicago society didn't forget that
Mackey had been In the loan business,
but New York didn't know much about
n and London had never heard. Mrs.
Maokey, beautiful, brilliant. clever and
ambitious. swiftly made her way into
London society. She wore pearls,
made generous presents, entertained
on a startling scale and soon became
talked about. Mackey, besides foot.
ing the bills, played polo and won
the friendship OF the King.
Mackey usually makes one or two
visits a year to his Chicago office in
the Wilioughby building, On these
occasions he ceases for the time being
10 pose as the bored English society
man and becomes the clear headed
loan man with the details OF his bust.
ness at his fingers ends,