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Anthony Joseph Drexel III

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A.J. Drexel
Photograph of Drexel, c. 1911
Born
Anthony Joseph Drexel III

(1887-10-19)October 19, 1887
Philadelphia, Pennsylvania, U.S.
DiedMarch 23, 1946(1946-03-23) (aged 58)
Boca Grande, Florida, U.S.
EducationEton College
OccupationBanker
Spouse
​
​
(m. 1910)​
Children3
Parent(s)Anthony Joseph Drexel Jr.
Margarita Armstrong
RelativesMargaretta Finch-Hatton, Countess of Winchilsea (sister)
John Armstrong Drexel (brother)
Anthony Joseph Drexel (grandfather)

Anthony Joseph Drexel III (October 19, 1887 – February 23, 1946) was an American banker and aviator.

Early life

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Photograph of Drexel and his wife, Marjorie, 1916

He was the eldest son of Margarita "Rita" Armstrong (1867–1948),[1] Anthony Joseph Drexel Jr.[2] Among his siblings were Margaretta[3] (the wife of Guy Finch-Hatton, 14th Earl of Winchilsea);[4][5] aviation pioneer John Armstrong Drexel;[6][7] and Louis Clapier Norris Drexel. His parents divorced in 1917,[8][9] and his mother married Brinsley FitzGerald (the son of Peter FitzGerald, 1st Baronet of Valencia) in 1918.[10]

His paternal grandparents were Anthony Joseph Drexel (son of Austrian-born American banker Francis Martin Drexel)[11][12] and Ellen (née Rozet) Drexel. Through his sister Margaretta, he was uncle to Christopher Finch-Hatton, 15th Earl of Winchilsea.[13] His maternal grandfather John Armstrong of the Baltimore Armstrongs.[14]

At the age of nine, his parents took him to England where he was educated at Farnborough and Eton College, which he attended for three and a half years. His father was a close friend of both King Edward VII and Kaiser Wilhelm II.[15] At age 16, he began a world tour that lasted a year and a half.[16]

Career

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After his world tour, Drexel returned to worked Philadelphia and began working as a clerk for Drexel & Co., the family firm founded by his great-grandfather Francis in 1838. His grandfather expanded the family fortunes by partnering with J. Pierpont Morgan to form Drexel, Morgan & Co. of New York in 1871 and Drexel, Harjes & Co. of Paris.[17]

In 1910, he was operating a flying school at Beaulieu, a quaint little village on the verge of the New Forest in England.[18] After his marriage, he returned again to the U.S. and became a "widely publicized messenger boy for a New York brokerage firm, E. and C. Randolph." He later became a clerk of the firm before becoming a partner in the firm J. R. Williston & Co. for two years. He bought a seat on the New York Stock Exchange and founded his own brokerage firm, Liggett, Drexel & Co. with fellow New York clubman John E. Liggett (of the Liggett tobacco family), at 61 Broadway in Manhattan. In 1917, his brother-in-law George Jay Gould Jr. joined the firm.[19] In 1918, he sold his seat to his partner for $55,000.[20] In 1919, the Intermountain Railway, Light & Power Co. sued Liggett & Drexell's successor, Liggett, Hichborn & Co., for $286,000 seeking damages related to a failed bond issue.[21] In 1921, the Merchants Trust Company of Waterbury, Connecticut sued Liggett for endorsing bankrupt notes.[22] Liggett's wife later sued him as well, claiming she helped keep the Liggett & Drexel firm afloat by contributing her own cash, securities and jewelry.[23][24][25]

During World War I, a member of Squadron A, Drexel served as a Lieutenant of the U.S. Army. After the War, he served as vice president of the Standard Film Industries Corporation in New York.[26] In 1935, he was present at a New York State Legislative committee's hearing as an advocate of lotteries for charity.[16]

Later life

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After he retired from banking, he moved away from Philadelphia, splitting his time between his home in Boca Grande, Florida and his home in Shelter Island, an island at the eastern end of Long Island.[16] In 1937, Drexel and his wife hosted a dinner in honor of Sir Bede Clifford, Governor of the Bahamas, and Lady Clifford (the former Alice Devin Gundry), at their home, Caprice.[27] He was a member of the Philadelphia Club, Racquet Club and Corinthian Club in Philadelphia and the Knickerbocker Club, New York Yacht Club, and the Racquet and Tennis Clubs of New York.[16]

In 1938, he sold his 238-ton steel yacht, Queen of Scots, to the British registry to be used as a hospital ship for the British Red Cross.[28][29]

When World War II broke out, Drexel and his wife were at their home in suburban Paris, and were forced to flee to their villa in Biarritz, and then to Portugal, where the boarded a ship to America. Upon his return to the United States, he "devoted much of his time to sports, particularly yachting."[16]

Personal life

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In 1910, Drexel was married to Marjorie Gwynne Gould (1891–1955), the eldest daughter of former actress Edith Kingdon and financier George Jay Gould.[30][31] While in New York City, they resided at 1015 Fifth Avenue.[32] They also owned a home in Lakewood, New Jersey and Caprice, a home in the Cable Beach community near Nassau, Bahamas.[27] Together, they were the parents of:

In 1911, his sister-in-law, Vivien Gould, married John Beresford, 5th Baron Decies. Drexel's boxing match with the bridegroom's brother, Seton Beresford, "aroused considerable comment."[16] Following Viven's death in 1931, Lord Decies married Drexel's elder cousin, Elizabeth Wharton Drexel, the daughter of Joseph William Drexel, and widow of both John Vinton Dahlgren and New York society leader Harry Lehr.[40]

Drexel died of a heart attack at his home in Boca Grande on February 25, 1946.[16] His widow died on November 29, 1955, in Manhattan.[41]

Descendants

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Through his daughter Edith, he was a grandfather of John Sergeant Cram III (1932–2007), who married Lady Jeanne Campbell, the only daughter of Ian Campbell, 11th Duke of Argyll.[42] She had previously been married to American writer Norman Mailer. Lady Jeanne and John had a daughter, Cusi Cram (b. 1967), an actress, a Herrick-prize-winning playwright, and an Emmy-nominated writer for the children's animated television program, Arthur.[43][44]

References

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  1. ^ "MRS. BRINSLEY FITZGERALD". The New York Times. February 13, 1948. Retrieved 10 August 2016.
  2. ^ "ANTHONY J. DREXEL, BANKER, DIES AT 70; Head of Famous Philadelphia Family Succumbs Here After Illness of Eight Months, RESIDED LONG IN ENGLAND Keen Yachtsman and Owner of Celebrated Craft -Had Been Host to Edward VII. i". The New York Times. 15 December 1934. Retrieved 25 April 2017.
  3. ^ "Margaretta Armstrong Finch-Hatton (née Drexel), Countess of Winchilsea and Nottingham". npg.org.uk. National Portrait Gallery. Retrieved 25 April 2017.
  4. ^ Times, Special Cable To The New York (11 February 1939). "EARL OF WINCHILSEA, 14TH TO HOLD TITLE; Married A.J. Drexel's Daughter in Brilliant Ceremony in 1910". The New York Times. Retrieved 25 April 2017.
  5. ^ Times, Special Cable To The New York (9 June 1910). "MISS DREXEL WEDS VISCOUNT MAIDSTONE; St. Margaret's, Westminster, Thronged at Nuptials of Daughter of Mr. and Mrs. A. J. Drexel. 8,000 OUTSIDE THE CHURCH Many Americans Attend Ceremony--Ten Pretty Bridesmaids in Procession--Reception at Drexel Home". The New York Times. Retrieved 25 April 2017.
  6. ^ "Events of the Month in Aeronautics". Popular Mechanics. 14: 505. October 1910.
  7. ^ "DREXEL FLYING FOR FRANCE.; Young Philadelphian in Lafayette Escadrille on West Front". The New York Times. 15 May 1917. Retrieved 25 April 2017.
  8. ^ "DIVORCES A.J. DREXEL.; Wife of Philadelphia Banker Obtains a Decree in London". The New York Times. 26 May 1917. Retrieved 25 April 2017.
  9. ^ "MRS. DREXEL WINS HER LONDON SUIT; Court Holds That Husband Must Pay Under Terms of the Separation Agreement. HAS AN ENGLISH DOMICILE Husband's Plea That He Is a Resident of France Thrown Out ;- He Is Suing in Paris for Divorce". The New York Times. 17 December 1915. Retrieved 25 April 2017.
  10. ^ "MRS. BRINSLEY FITZGERALD" (PDF). The New York Times. 13 February 1948. Retrieved 10 August 2016.
  11. ^ "FRANCIS DREXEL'S WILL". The New York Times. 23 February 1885. Retrieved 25 April 2017.
  12. ^ McDonald, Edward D.; Edward M. Hinton (1942). Drexel Institute of Technology 1891–1941. Haddon Craftsmen, Inc. pp. 4–5. ISBN 1-4067-6374-8.
  13. ^ Times, Wireless To The New York (12 July 1935). "Gladys Szechenyi Becomes Bride Of Viscount Maidstone in London; Nobility and Ambassadors of Many Countries Attend Brilliant Church Ceremony -- Both Are Members of Prominent European and American Families". The New York Times. Retrieved 25 April 2017.
  14. ^ "MR. DREXEL'S BRIDE.; THE YOUNG BANKER'S MARRIAGE TO MISS RITA ARMSTRONG". The New York Times. 15 September 1886. Retrieved 25 April 2017.
  15. ^ "KING PLAYS CROQUET.; Edward VII. Engages in a Game with Anthony J. Drexel at Marienbad". The New York Times. 21 August 1908. Retrieved 22 June 2020.
  16. ^ a b c d e f g "A.J. DREXEL DEAD; RETIRED BROKER, 58; Great-Grandson of Founder of Philadelphia Banking House Prominent as Sportsman". The New York Times. 26 February 1946. Retrieved 25 April 2017.
  17. ^ Rottenberg, Dan (2001). The Man who Made Wall Street: Anthony J. Drexel and the Rise of Modern Finance. University of Pennsylvania Press. ISBN 0812236262. Retrieved 25 April 2017.
  18. ^ TIMES, Special Cable to THE NEW YORK (15 June 1910). "YOUNG DREXEL RUNS AVIATION SCHOOL; Husband of Marjorie Gould Opens, with a Partner, a Business in England". The New York Times. Retrieved 22 June 2020.
  19. ^ "G.J. GOULD, JR., GETS JOB WITH BROTHER-IN-LAW; Will Learn Business from the Ground Up in Firm of Liggett, Drexel & Co". The New York Times. 29 July 1917. Retrieved 22 June 2020.
  20. ^ "Post Exchange Seats for Transfer". The New York Times. 12 April 1918. Retrieved 22 June 2020.
  21. ^ "SEEKS DAMAGES FOR BONDS.; Intermountain Company Sues Liggett & Drexell for $286,000". The New York Times. 23 September 1919. Retrieved 22 June 2020.
  22. ^ "SUE LIGGETT FOR NOTES.; Alleged Broker Endorsed $50,000 Paper Paid to Bankrupt Firm". The New York Times. 9 December 1921. Retrieved 22 June 2020.
  23. ^ "J.E. LIGGETT SUED BY WIFE FOR LOANS; Says She Helped Stock Exchange Firm of Liggett & Drexel to Keep Going". The New York Times. 17 August 1923. Retrieved 22 June 2020.
  24. ^ Times, Special to The New York (20 November 1923). "LIGGETT SEEKS BANKRUPTCY; Ex-Banker Files Petition in Chicago, Giving Liabilities of $253,859". The New York Times. Retrieved 22 June 2020.
  25. ^ "MRS. LIGGETT SETTLES SUIT; Former Prima Donna Sought to Regain Fund From Husband's Firm". The New York Times. 21 December 1925. Retrieved 22 June 2020.
  26. ^ "Anthony J. Drexel, Indicted Four Years Ago On Illegal Film Stock Charge, Surrenders". The New York Times. 29 July 1925. Retrieved 22 June 2020.
  27. ^ a b "ANTHONY J. DREXELS HOSTS AT NASSAU; Entertain for Governor and Lady Clifford-The Charles Moons Have Yachting Party". The New York Times. 22 March 1937. Retrieved 22 June 2020.
  28. ^ TIMES, Special to THE NEW YORK (17 November 1939). "Drexel Yacht to Be British". The New York Times. Retrieved 22 June 2020.
  29. ^ "APPROVES SALE OF 2 SHIPS; Commission Also Modifies Order on Transfer of Drexel Yacht". The New York Times. 4 April 1940. Retrieved 22 June 2020.
  30. ^ "MARJORIE GOULD TO WED A.J. DREXEL, JR.; Engagement of George Jay Gould's Eldest Daughters is Announced at a Dance". The New York Times. 19 January 1910. Retrieved 22 June 2020.
  31. ^ "Marjorie Gould to Wed A.J. Drexel, Jr. Engagement of George Jay Gould's Eldest Daughters is Announced at a Dance". The New York Times. January 19, 1910. Retrieved 2012-08-10.
  32. ^ "Mrs. A.J. Drexel, Jr., Operated On". The New York Times. 19 December 1918. Retrieved 22 June 2020.
  33. ^ World, Photo By Wide (6 May 1931). "EDITH DREXEL WEDS H. SERGEANT CRAM; Members of Two Prominent Families Married in St Bartholomew's. SOCIETY FILLS THE EDIFICE Floral Decorations Elaborate--Bride Has Nine Attendants--Many Philadelphians Present". The New York Times. Retrieved 23 May 2017.
  34. ^ Times, Special To The New York (8 October 1936). "HENRY CRAM TO WED; MISS RUTH VAUX Son of Mrs. J. Sergeant Cram of New York Is Affianced to Philadelphia Girl". The New York Times. Retrieved 23 May 2017.
  35. ^ "A.J. DREXEL 3D DIES IN PISTOL ACCIDENT; Member of Banking Family Is Killed in Carolina Showing German Souvenir to Guest". The New York Times. 16 January 1948. Retrieved 22 June 2020.
  36. ^ "HELEN A. HOWARD ENGAGED TO MARRY; Is to Be Bride of Anthony J. Drexel 3d of Philadelphia Banking Family". The New York Times. 16 August 1933. Retrieved 22 June 2020.
  37. ^ "MARJORIE DREXEL BRIDE IN BAHAMAS; Member of Philadelphia Family Wed to John M. Gundry Jr. of Cleveland". The New York Times. 21 February 1935. Retrieved 22 June 2020.
  38. ^ TIMES, Special to THE NEW YORK (4 December 1939). "SUES MARJORIE DREXEL; Woman Says Present Mrs. J. M. Gundry Jr. Stole Mate's Love". The New York Times. Retrieved 22 June 2020.
  39. ^ "LOSES ALIENATION SUIT; Mrs. Gundry, Great-Granddaughter of Gould, Faces Judgment". The New York Times. 1 April 1943. Retrieved 22 June 2020.
  40. ^ TIMES, Wireless to THE NEW YORK (12 May 1936). "DECIES TO MARRY MRS. HARRY LEHR; Widow of New York Leader of Society to Become Bride of Irish Peer on May 23. ANNOUNCEMENT IN PARIS Bride-Elect Member of Drexel Family -- Wrote Book, 'King Lehr and Gilded Age.'". The New York Times. Retrieved 22 June 2020.
  41. ^ "Mrs. A. J. Drexel Jr. Dies at Home Here". The New York Times. 30 November 1955. Retrieved 22 June 2020.
  42. ^ Princeton Alumni Weekly. Princeton Alumni Weekly. 1964. p. 149. Retrieved 23 November 2017.
  43. ^ IMDb
  44. ^ Small, Michael (August 3, 1981). "At 13, Cusi Cram Doesn't Kid Around; Already a Cover Girl, Now She's Scrubbing Up for the Soaps". People. Retrieved December 5, 2013.
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