Intermountain Jewish news., 1926-10-07

give II to Jacob, Esau will have it"
has come true in the case Of famous
Jewish millionaire in Budapest, who
in the course Of very short time has
lost the whole of his vast fortune of
over 10 million dollars and now in
his SEVENTEEN year is a convict behind
prison walls.
Former Fiop King
II is the Hungarian Flour King,
Emil Bacher, himself an old Maskil
and 4 son of the Hebrew writer, Ba-
cher. who translated the German clas-
sizes into Hebrew. After fifty years
OF tireless work, Bacher grew to be
the richest man in Hungary and the
strongest man in Hungarian economic
life. He was the director of the larg-
est milling concerns in the world. 1t
was never known that Bacher should
have had need to borrow money from
anywhere. All his big business trans
actions were carried on by his own
capital. He was veritably king of the
wheat market in Europe, and many a
time he even dared to dictate prices
to the Chicago Wheat Exchange. Emil
Bacher was man Of high repute.
The City of London, the center of the
British financial world, offered him
on its own initiative credits to the
amount Of millions of pounds, but he
would only laugh at the proposal and
turn it down. He was hard working
jew with a tenacious unyielding char
acter. He would work for more than
twenty hours day and had no time
to think of charity or of anything
except business.
War On Chicago Exchange
Suddenly Bacher took it into his
head to declare wa ragainst the Chi
cago Corn Exchange. He got an idea
that the American corn spectators
were raising wheat prices in the whole
Of Europe and that this meant that
his own twenty-seven giant mills were
not bringing him the profit they should
be bringing, so he embarked on a
campaign against the Chicago Corn
Exchange. But America is very
rich country and it was hardly likely
| that it would allow itself to be die
tated to by n European millionaire
This the seventy-year old mill king of
/ Hungary did not understand and the
result was that his campaign cost
him the whole of his fortune.
But Bacher is a stiff-necked jew
| 1t was not enough for him that he
had lost his fortune. He was deter
mined to fight to the very end. Sc
he accepted an English credit of ono
and half million pounds and went
on with his fight against Chicago
In a short time the borrowed money
was gone to the last penny and rum
ors began to spread in Hungary about
Emil Bacher being on the verge OF
bankruptcy. These rumors got t.
London and Bacher's creditors de
nianded the immediate repayment OF
their advance. To prevent running
Hungary's credit abroad, the Hungar
ian government proclaimed Bacher':
mills under state control and repaic
Bacher's debts.
Al Inside of Year
The whole decline and fall oi
Bacher took less than year from be
ginning to end. In twinkling he had
lest the colossal fortune he haC
amassed in fifty years of hard work
"As long as Bacher is alive and works
he will accept money from nobody
people had said. He was the only Jew
whom the anti-Semitic government
did not dare to touch during the time
of the pogroms. Even now the gov
ernmcnt has already repaid most OF
his debt to England. Bacher remained
honest to the last. He gave up to the
DR.. Eigler, eye, ear, nose and throat