Anthony Joseph Drexel III explained

A.J. Drexel
Birth Name:Anthony Joseph Drexel III
Birth Date:19 October 1887
Birth Place:Philadelphia, Pennsylvania, U.S.
Death Place:Boca Grande, Florida, U.S.
Occupation:Banker
Education:Eton College
Parents:Anthony Joseph Drexel Jr.
Margarita Armstrong
Children:3
Relatives:Margaretta 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

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.

Career

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.[16]

In 1910, he was operating a flying school at Beaulieu, a quaint little village on the verge of the New Forest in England.[17] 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.[18] In 1918, he sold his seat to his partner for $55,000.[19] 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.[20] In 1921, the Merchants Trust Company of Waterbury, Connecticut sued Liggett for endorsing bankrupt notes.[21] 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.[22] [23] [24]

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.[25] In 1935, he was present at a New York State Legislative committee's hearing as an advocate of lotteries for charity.

Later life

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. 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. 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.

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.[26] [27]

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."

Personal life

In 1910, Drexel was married to Marjorie Gwynne Gould (1891–1955), the eldest daughter of former actress Edith Kingdon and financier George Jay Gould.[28] [29] While in New York City, they resided at 1015 Fifth Avenue.[30] They also owned a home in Lakewood, New Jersey and Caprice, a home in the Cable Beach community near Nassau, Bahamas.[31] 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." 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.[39]

Drexel died of a heart attack at his home in Boca Grande on February 25, 1946.[40] His widow died on November 29, 1955, in Manhattan.[41]

Descendants

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]

Notes and References

  1. News: MRS. BRINSLEY FITZGERALD. 10 August 2016. The New York Times. February 13, 1948.
  2. News: 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. 25 April 2017. The New York Times. 15 December 1934.
  3. Web site: Margaretta Armstrong Finch-Hatton (née Drexel), Countess of Winchilsea and Nottingham. npg.org.uk. National Portrait Gallery. 25 April 2017.
  4. News: Times. Special Cable To The New York. EARL OF WINCHILSEA, 14TH TO HOLD TITLE; Married A.J. Drexel's Daughter in Brilliant Ceremony in 1910. 25 April 2017. The New York Times. 11 February 1939.
  5. News: Times. Special Cable To The New York. 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.. 25 April 2017. The New York Times. 9 June 1910.
  6. Events of the Month in Aeronautics . Popular Mechanics . 14 . October 1910 . 505.
  7. News: DREXEL FLYING FOR FRANCE.; Young Philadelphian in Lafayette Escadrille on West Front.. 25 April 2017. The New York Times. 15 May 1917.
  8. News: DIVORCES A.J. DREXEL.; Wife of Philadelphia Banker Obtains a Decree in London.. 25 April 2017. The New York Times. 26 May 1917.
  9. News: 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. 25 April 2017. The New York Times. 17 December 1915.
  10. News: MRS. BRINSLEY FITZGERALD. 10 August 2016. The New York Times. 13 February 1948.
  11. News: FRANCIS DREXEL'S WILL.. 25 April 2017. The New York Times. 23 February 1885.
  12. Book: McDonald, Edward D.. Edward M. Hinton. Drexel Institute of Technology 1891–1941. Haddon Craftsmen, Inc.. 1942. 1-4067-6374-8. 4–5.
  13. News: Times. Wireless To The New York. 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.. 25 April 2017. The New York Times. 12 July 1935.
  14. News: MR. DREXEL'S BRIDE.; THE YOUNG BANKER'S MARRIAGE TO MISS RITA ARMSTRONG.. 25 April 2017. The New York Times. 15 September 1886.
  15. News: KING PLAYS CROQUET.; Edward VII. Engages in a Game with Anthony J. Drexel at Marienbad. . 22 June 2020 . . 21 August 1908.
  16. Book: Rottenberg. Dan. The Man who Made Wall Street: Anthony J. Drexel and the Rise of Modern Finance. 2001. University of Pennsylvania Press. 0812236262. 25 April 2017. en.
  17. News: TIMES . Special Cable to THE NEW YORK . YOUNG DREXEL RUNS AVIATION SCHOOL; Husband of Marjorie Gould Opens, with a Partner, a Business in England. . 22 June 2020 . . 15 June 1910.
  18. News: G.J. GOULD, JR., GETS JOB WITH BROTHER-IN-LAW; Will Learn Business from the Ground Up in Firm of Liggett, Drexel & Co. . 22 June 2020 . . 29 July 1917.
  19. News: Post Exchange Seats for Transfer. . 22 June 2020 . . 12 April 1918.
  20. News: SEEKS DAMAGES FOR BONDS.; Intermountain Company Sues Liggett & Drexell for $286,000. . 22 June 2020 . . 23 September 1919.
  21. News: SUE LIGGETT FOR NOTES.; Alleged Broker Endorsed $50,000 Paper Paid to Bankrupt Firm. . 22 June 2020 . . 9 December 1921.
  22. News: J.E. LIGGETT SUED BY WIFE FOR LOANS; Says She Helped Stock Exchange Firm of Liggett & Drexel to Keep Going. . 22 June 2020 . . 17 August 1923.
  23. News: Times . Special to The New York . LIGGETT SEEKS BANKRUPTCY; Ex-Banker Files Petition in Chicago, Giving Liabilities of $253,859. . 22 June 2020 . . 20 November 1923.
  24. News: MRS. LIGGETT SETTLES SUIT; Former Prima Donna Sought to Regain Fund From Husband's Firm. . 22 June 2020 . . 21 December 1925.
  25. News: Anthony J. Drexel, Indicted Four Years Ago On Illegal Film Stock Charge, Surrenders . 22 June 2020 . . 29 July 1925.
  26. News: TIMES . Special to THE NEW YORK . Drexel Yacht to Be British . 22 June 2020 . . 17 November 1939.
  27. News: APPROVES SALE OF 2 SHIPS; Commission Also Modifies Order on Transfer of Drexel Yacht . 22 June 2020 . . 4 April 1940.
  28. News: MARJORIE GOULD TO WED A.J. DREXEL, JR.; Engagement of George Jay Gould's Eldest Daughters is Announced at a Dance. . 22 June 2020 . . 19 January 1910.
  29. News: Marjorie Gould to Wed A.J. Drexel, Jr. Engagement of George Jay Gould's Eldest Daughters is Announced at a Dance . . January 19, 1910 . 2012-08-10 .
  30. News: Mrs. A.J. Drexel, Jr., Operated On. . 22 June 2020 . . 19 December 1918.
  31. News: ANTHONY J. DREXELS HOSTS AT NASSAU; Entertain for Governor and Lady Clifford-The Charles Moons Have Yachting Party . 22 June 2020 . . 22 March 1937.
  32. News: World. Photo By Wide. 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.. 23 May 2017. The New York Times. 6 May 1931.
  33. News: Times. Special To The New York. HENRY CRAM TO WED; MISS RUTH VAUX Son of Mrs. J. Sergeant Cram of New York Is Affianced to Philadelphia Girl.. 23 May 2017. The New York Times. 8 October 1936.
  34. News: A.J. DREXEL 3D DIES IN PISTOL ACCIDENT; Member of Banking Family Is Killed in Carolina Showing German Souvenir to Guest . 22 June 2020 . . 16 January 1948.
  35. News: HELEN A. HOWARD ENGAGED TO MARRY; Is to Be Bride of Anthony J. Drexel 3d of Philadelphia Banking Family. . 22 June 2020 . . 16 August 1933.
  36. News: MARJORIE DREXEL BRIDE IN BAHAMAS; Member of Philadelphia Family Wed to John M. Gundry Jr. of Cleveland. . 22 June 2020 . . 21 February 1935.
  37. News: TIMES . Special to THE NEW YORK . SUES MARJORIE DREXEL; Woman Says Present Mrs. J. M. Gundry Jr. Stole Mate's Love . 22 June 2020 . . 4 December 1939.
  38. News: LOSES ALIENATION SUIT; Mrs. Gundry, Great-Granddaughter of Gould, Faces Judgment . 22 June 2020 . . 1 April 1943.
  39. News: TIMES . Wireless to THE NEW YORK . 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.' . 22 June 2020 . . 12 May 1936.
  40. News: A.J. DREXEL DEAD; RETIRED BROKER, 58; Great-Grandson of Founder of Philadelphia Banking House Prominent as Sportsman. 25 April 2017. The New York Times. 26 February 1946.
  41. News: Mrs. A. J. Drexel Jr. Dies at Home Here . 22 June 2020 . . 30 November 1955.
  42. Book: Princeton Alumni Weekly. 1964. Princeton Alumni Weekly. 149. 23 November 2017. en.
  43. https://www.imdb.com/name/nm0186113/awards IMDb
  44. News: Small. Michael. At 13, Cusi Cram Doesn't Kid Around; Already a Cover Girl, Now She's Scrubbing Up for the Soaps. December 5, 2013. People. August 3, 1981.

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