Evening star., 1937-09-05
YOUNGER MELONS.
RULE RICH EMPIRE
Cousins Paul and Richard
Buckle Down to Business
of Managing Millions.

cent like his famous father, the late
Andrew w, sits behind chrome and
black desk on the third floor Of the
Mellon National Bank. His Office is
next to the room once occupied by
the former Secretary of the Treasury.
Richard King Mellon, 38, tall,
husky son of Richard Beatty Mellon,
who was brother and partner of "A.
W. is on hunting trip in Alaska,
but will return soon to his office on the
first floor of the bank. He is president
of the s30O,ooO,oo0 institution
Thus Paul and Dick two of the
worlds richest cousins. carry on the
tradition and the fortune that was
started 100 years ago in Pittsburgh
by their grandfather, Judge Thomas
A. Mellon.
Paul manages his own private for
tune as president of the Coalesced Co.,
a holding company established by his
father for him and his sister Ailsa
tMrs. David K. E. Bruce. The death
of his father last week has also made
him one of three trustees of the A.
w. Mellon Charitable and Educational
Trust.
Guardian of Wish.
He will help carry out his fathers
wish that the wealth of the trust be
used for the betterment of mankind
Before his death the elder Mellon
gave more than $3l 100000 to the
trust, and his will directs that the bulk
of his personal estate go to the trust.
Financial circles estimate that this
addition may range between 100 and
200 millions.
Paul arrives at his Office early and
leaves late. He follows the Mellon
tradition of hard work. Since his
fathers passing he has consented to
see only persons intimately related to
the family or its far-flung business in
tereSts.
Dick. besides running the bank, is
president of the Mellbank Corp. and
director of more than dozen giant
corporation in which Mellon money
Is at work.
Dick Mellon is like his father, at
whose death he succeeded as head
OF the banking nrm IN S34.
PLAYS and Works Hard.
He plavs hard and works hard and
loves horses. But he doesn't have
much time to play since taking over
leadership of the famllys banking
interests, he told an interviewer not
long ago.
is the banking job tough?" he was
asked
Dick grinned
No. Some days it's easy. The
only thing that gets me is the tele-
phone. Some days there are as many
as 30 to 35 long distance calls. Then
it's hard
"Of course, I was raised in the
bank. I never stop to think whether
/ like it or not. I'm just part OF it.
About his directorates in the Alumi-
mum Co. of America, Gulf Oil, Penn
sylvania Railroad, koppers Co. and
many others, he said:
"Oh. they're just directorates.
have to ride a lot in trains. just
get ready for good evening and
that telephone rings, and I'm on.
OF course, these are incidental to
banking. The whole int OF my
family and myself are centered in
the banking business"
Philosophy of Expansion.
What philosophy guides the Mellon
business?
We'll. my family thinks of COM
panies much in terms of expansion"
he said. Il suppose you might call
1t philosophy. We believe that ex-
pansion-that is the buildir of plants
and companies and buildings-makes
business and helps the Nation and
the communities they're in"
But the son of R. B. Mellon has
not forsaken his first love-of horses.
One of his ambitions was to win the
Grand National Steeplechase race,
but he observed, Il don't have SO
much time any more; that ambition
is a dead ambition. I have
to be a serious banker"
Dick Mellon was not always seri-
Gus While in Princeton University
In 1920 he went to work in the bank
ss a messenger. His father was out
of town the first day and Dick invited
his fellow messengers to his home for
q party. He greeted his guests dis
guised as butler.
Enlisted in Navy.
Two years before, he had enlisted
In the Navy as ''gob" and some of
his closest friends today are former
enlisted men and officers with whom
he served during the World War.
Early in his banking training Dick
decided that it would be good busi-
ness to combine several small banks
under a single head. The result was
the formation of the Mellbank Corp,
grouping a score of banks with re-
sources exceeding s50000,000.
The Mellon family owns the 5000
acre Rolling Rock Country Club in
the Allegheny Mountains near Ligo-
nier, Pa, where both Dick and Paul
maintain large stables of horses and
dogs.
In 1881 the Older of the two men
thought that his horse-Glangesia-
could win the Grand National in Eng
land, but Glangesia finished fourth.
For several years Dick had gone to
England in hope of seeing one of his
horses place first.
But his new duties as head of the
Mellon bank interfered with the
yearly trips, so Dick sponsored a
steeplechase Of his own at Rolling
Rock in 1884. 1t is now an annual
society sports :. event. An excellent
horseman, the banker delights in his
title as master Of the hounds.
Paul Mellon is match for Dick as
a horse enthusiast. His hopes ran
high last March when he entered his
prize horse, "Drinmore Lad" in the
Grand National, but it was among the
''non-accepted."
Likes Camera Experiments.
Next to horse events, Dick prefers
hunting, fishing and making trick
camera shots.
Both cousins have married widows.