Democratic Sentinel, Volume 13, Number 29, Rensselaer, Jasper County, 9 August 1889 — The Rise of the Drexels. [ARTICLE]

The Rise of the Drexels.

To-day Jlrexel & Co. can raise more money in twenty-four hours than any financial institution in the United States. Yet it is not a great while ago that old Francis Drexel was a poor portrait painter. Somehow or other the old man about fifty years ago got an order to paint a picture for a Brazilian grandee, and went down to that country to do the work. The Brazilian took a fancy to the poor portrait painter, and not only paid him a good price for the picture but let him in on some money-making scheme out of which Drexel realized quite a sum. He returned to Philadelphia and went into the money-lending business. By careful investments he amassed a big fortune, and his three boys.—Francis, Anthony and Joseph—-increased it. When the old man died he was worth abc<it $5,000,000. When Francis, the oldest boy died, he left $25,000,000. left about $8*,000,000, being less of a money-maker than the others, and Anthony, the only one left, is estimated to be worth any where from $20,000,000 to $50,000,000. Nobody really knows how much he is worth, but the house

can raise $50,000,000 or more in twentyfour hours, if necessary, which is something no other institution in the country, outside of the United States Treasury, can do. When Frank died he left three daughters. All are under twen-ty-five, one only is married, and they have each an income of about SI,OOO a day. The fellow who married one of them was a young lawyer without a dollar.— St. Louis Post-Dispatch.