People's Pilot, Volume 3, Number 3, Rensselaer, Jasper County, 7 July 1893 — DIED FAR FROM HOME. [ARTICLE+ILLUSTRATION]

DIED FAR FROM HOME.

Amihtmy t. the Well-Known Banker and Ir ii. Saeemmb* to m Attack es Apoplexy at Cariebad. Ger- ' many. 1 New York, July 1. Anthony J. Alrexel, the great American Banker, died on Friday at Carlsbad, Germany. A private dispatch received at the banking hone of Drexel, Morgan & Co. iq Wall street at 1 o’clock announced the sad event, and a similar dispatch was received by Drexel & Co., of Philadelphia. When the information contained in them was made public it created a sensation. Both cablegrams were signed by Daniel B. Hoskins, son-in-law of minister to Germany Runyon. Mr. Hoskins is staying at Carlsbad, where Mr. Drexel was taking the waters for a kidney complaint. •' As soon as the startling announcement of the millionaire banker’s death was received telegrams asking for .further information were sent to Mr. Hoskins, Minister Runyon and Mr. Drexel’s nephew, who is traveling with

him. A confirmatory dispatch was re-! ceived at 2:15 p. m. The message stated that Mr. Drexel had a slight attack of pleurisy, but recovered and was then seized with apoplexy, from which he 1 died. j The announcement of Mr. Drexel’s death occasioned the greatest sorrow 1 among both bankers and the general I public here and in Philadelphia. The members of the Philadelphia banking I house, presuming on the authenticity ! of the report of Mr. Drexel’s death, said that the death of Mr. Drexel will not affect the business of that firm. Mr. Drexel, it is said, made provisions for the inevitable some years ago, and his money, or the greater portion of it, will remain in-the firm. His interest in the firm of Drexel & Co. is estimated to be more than $10,000,000. Mr. Drexel is said to have arranged his affairs more than two years ago. Mr. Wright, one of the managing directors of Drexel, Morgan & Co., cabled J. Pierrepont Morgan, who is now in London, the news of Mr. Drexel’s death, and says that Mr. Morgan will go at once to Carlsbad and with Mr. Harris, who accompanied Mr. Drexel abroad, will make preparations to have the body brought to this country. The body of the dead financier will be placed in the Drexel mausoleum in Philadelphia, where other members of tlie family rest. This mausoleum is one of the finest in the country and was built about twelve years ago. Mr. Drexel’s fortune, estimated at from $20,000,000 to $35,000,000, will remain in the family, but it is said that he frequently expressed the intention of leaving substantial donations to the Drexel college in Philadelphia, which he endowed with $2,000,000, and the home for printers at Colorado Springs, which he and George W. Childs jointly endowed.

Mr. Drexel was one of the most prominent bankers of this country. He was at the head of the firm of Drexel & Co., in Philadelphia, and was a partner in the New York house of Drexel, Morgan & Co. and the Paris bank of Drexel, Harjes & Co. The banks in which he was interested also maintained close business relations with J. S. Morgan & Co., the London bankers. The various Drexel banking houses have always been money-furnishing establishments. They have conducted a careful and conservative business in supplying the capital for private and corporate undertakings, and have in the course of their history engineered successfully many financial operations of far-reaching interest. Anthony J. Drexel always took a deep interest in the affairs of these establishments, and much of- the success which they enjoyed has been due to his sagacity and keen Business instinct. Mr. Drexel had a quiok perception, and his ability to at once comprehend the chief bearing of the proposition at hand enabled him to promptly exercise his judgment. M>\ Drexel was the son of Francis Martix Drexel, a native of the Austrian Tyrol, who to avoid one of Napoleon Bonaparte’s conscriptions came to this country and settled in Philadelphia. The elder Drexel founded the great banking house of Drexel & Co., in Philadelphia, in 1837. The Paris branch was founded in 1868, and the New York house—Drexel, Morgan & Co. —in 1871. Anthony J. Drexel was born iu Philadelphia in 1826, qnd during the greater part of his life was at the head of the bank in that city founded by his father, having been identified with that institution ever since he was 13 years of age. His brother, Joseph W. Drexel, who was the leading spirit in the New York house, died in that city in 1888. Both brothers were illustrious examples of wealth combined witli whole-hearted, practical philanthropy.

ANTHONY J. DREXEL.