The sun., 1916-12-04
j. s. LOOKING INTO
LOAN OFFICE CHAIN
Rise to Social Heights Of
Frank j. Mackey Of Chi
cagO Recalled.
OF KING EDWARD
Great Fortune Reported Made
by Collecting High Inter-
est From Poor.

CHICAGO, Dec. 3.-Preparing a Federal
explosion at the root Of the loan agent
business, District Attorney Clyne yes
terday announced he would send . spe-
cial agent to question Mrs. c. NJ. French.
the eighty-year-old widow Of Reedsburg.
Wis. who is said to be the nominal head
Of an immense chain Of loan offices.
Mrs. French is thV mother Of Frank
j. Mackey, whose Income from the
scrapings 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 1912. Mackey now
is around 60 year OF age.
From Reedsburg last night came word
that Mrs. French. because OF her ad-
vanced age. cannot be questioned In re-
money. II was said by her friends that
she has always been in ignorance OF the
true state of affairs.
O. c. Morse. Mrs. French's nephew.
who is vice-president Of a bank in Reeds
burg. said Mackey always has been
business manage for his mother and
that little Is known OF the real state Of
the family's fortune. Mrs. French Is
said In Reedsburg to Ia been wealthy
before the Joan business was started.
: was Ardent Polo Player.
This never has been denied by Mackey.
But Mackey In the past has referred 10
his mothers 800. 900 as a 'shoestrins'
upon which he founded a fortune OF mil
lions. 1t Is said Chicago alone con-
tributes more than $1,000. 900 annually
to the golfers OF the money lenders In
business In the city.
In former years Mackey was an ar
dent polo player. the associate OF SO
cial personages. and vas even credited
with being the companion OF King Ed
ward VII. on several social excursions.
Mackey IL said to own residences in a
half dozen cities, but recently he has
been spending most of his time in Cali
fornia.
Mackey's last general public mention
In connection with his loan business was
in 1912, when his company was sued
by n woman whose piano had been taker
from her because OF a delinquent So
payment. He explained that he cam
TO Chicago 20 visit relatives. but II wa
notable that the woman was paid sl1l
In settlement OF her suit.
Sometimes the important As we'll a,
the lowly suffer. Mackey once loane,
a Mexican mining company s25O.O0O a
~ Y tSiihs anu looh oNSi a 4uait e ~
terest In the mines As we'll. II wal
what Macked called 'the rub" Dlstric
Attorney Clyne said last night he woult
try TO learn II the Interstate commerc
laws or the postal laws we're violated II
the conduct Of Mackey's business.
Golden Returns.
: Mackey's rise to financial and socia
prominence tes,ifes to the golden re
tums OF the business. He began hi
: business life as a clerk In a ST. Pau
real estate office. Here he saw the pos
; sibilities OF the loan business. He haI
: the idea. the same Idea upon which tn
business Is based to-day. but wa
! without capital. He went to Yriend
who had money. explained his schem
; and in 1873 was able to open. under hi
> own name. his first office.
, He made so smuch money from III
start that In 1882 he came to Chicag
{ and started the business that has grow
l into his present trust" The wonderfu
! rates of interest he derived from his In
vestments soon placed him In the mill
! ionaire class. and IL was then tina
> Mackey. probably prompted by his No
cially ambitious wife. decided to tax
down his name from he compan
single. He and his wife wished I
enter society. Mackey suddenly disar
peared from the active management @
his Chicago companies and became whs
he is to-day-the power behind III
] throne. Later he expanded his organ
! ization until II now operates all owe
tho country.
Chicago society didn't forget tha
Mackey had been IN the loan business
= but New York didn't now much abo,
1t and London had never heard. Mr.
Mackey, beautiful, brilliant. clever an
ambitious. swiftly made her way I'm,
London society. She wore pearls. mad
generous presents. entertained on
startling scale and soon became talke
about. Mackey, besides footing III
bills. played polo and won the frient
ship of the King.
Mackey usually makes one or tw
visits IA year to his Chicago office
y the Willoughby Building. ON these O,
: casions he ceases for the time being
4. pose as the bored English society ma
and becomes the clear headed loan ma
Z with the details OF his business at h
q fingers ends.