Anthony Joseph Drexel Jr.

Anthony Joseph "Tony" Drexel Jr. (September 9, 1864 – December 14, 1934) was an American banker and philanthropist who was a close friend of King Edward VII.[1]

Anthony Joseph Drexel Jr.
Born(1864-09-09)September 9, 1864
Philadelphia, Pennsylvania, U.S.
DiedDecember 14, 1934(1934-12-14) (aged 70)
OccupationBanker
Spouse(s)
Margarita Armstrong
​
​
(m. 1886; div. 1917)​
Children4
Parent(s)Anthony Joseph Drexel
Ellen B. Rozet
RelativesAlexander Van Rensselaer (brother-in-law)
Francis Anthony Drexel (uncle)
Joseph William Drexel (uncle)
Katharine Drexel (cousin)
Anthony Drexel Biddle Sr. (cousin)
Francis Martin Drexel (grandfather)

Early life

Drexel was born on September 9, 1864, in Philadelphia to Anthony Joseph Drexel (1826–1893) and Ellen Rozet (1832–1891). He was one of nine children, including: Emilie Taylor Drexel,[2][3] Frances Katherine Drexel, Mae E. Drexel, Sarah Rozet "Sallie" Drexel (the wife of Alexander Van Rensselaer),[4] John Rozet Drexel, and George William Childs Drexel.[5]

His father was the founder of Drexel, Morgan & Co with John Pierpont Morgan in 1871 as his junior partner, who also founded Drexel University in 1891.[6] His maternal grandparents were John Roset and Mary Ann Laning. His paternal grandparents were Austrian-born American banker Francis Martin Drexel and Katherine Hookey.[7][8]

Career

In 1878, Drexel began working for his father's firm, Drexel & Co. in Philadelphia, and was made a partner on January 1, 1890.[9] He was a partner at Drexel until October 21, 1893, when he resigned at age 29 after 16 years of working and just four months after his father's death, from Drexel & Co. of Philadelphia, Drexel, Morgan & Co. of New York, and Drexel, Harjes & Co. of Paris.[10]

At the time, a close friend of his exclaimed to The New York Times, "He does not care to assume the cares and responsibilities which are attached to the business. He is a young man who is very fond of life in the society. His pleasures would have to be curtailed immeasurably were he to continue closely identified with the business his father established, and he does not care for the confinement and close application to which he would be subjected. He prefers to be free footed, and will withdraw. That is all there is to his action. It is said it has no significant whatsoever."[10]

Shortly thereafter, he bought one of the most valuable residences in Philadelphia, the Wilstach mansion at the northeast corner of 18th and Walnut Streets, for $175,000.[11] In November of the same year, he also bought the steamer, Avenel from W. P. Whitlock.[12]

Lifestyle

After his father's death on June 30, 1893, Drexel decided to live in Europe. He lived in London on Grosvenor Square and Carlton House Terrace for several years.[13] While there, they were friends with Clyde Fitch, a successful and prolific dramatist.[14] From 1915 until his death, however, he resided at the 68 rue de Bellechasse in Paris as well as homes in the provinces, after his difficult divorce with his wife.[1] In addition to his reputation as a lavish entertainer, he was known as a keen yachtsman and owned several famous yachts including Sayonara and Aloma.[1]

He was a member of the Philadelphia Club, Rabbit Club, Racquet Club and Corinthian Club in Philadelphia and the Knickerbocker Club, Union Club, New York Yacht Club, and Turf and Field Club of New York.[1]

Personal life
Photograph of Drexel's wife, Rita Armstrong Drexel, by Lallie Charles

On September 14, 1886, he married Margarita "Rita" Armstrong (1867-1948),[15] a daughter of John Armstrong of the Baltimore Armstrongs.[16] Together, they had:

On May 25, 1917,[13] Anthony and Margarita divorced after several years of separation and a bitterly contested trial.[25]

Drexel died of uremic poisoning in 1934, aged 70, while staying in New York at the Hotel Ambassador.[1]

References
  1. "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.
  2. "The Theater: New Plays in Manhattan". Time magazine. December 3, 1956. Retrieved March 17, 2011.
  3. "Anthony J. Drexel Biddle Dead. Ambassador to Spain Was 64. Envoy and Officer in World War II. Tributes Paid by Kennedy and Eisenhower". The New York Times. November 14, 1961. Retrieved April 10, 2010. Anthony J. Drexel Biddle, ambassador to Spain and for many years one of this country's most distinguished diplomats, died today at Walter Reed Army ...
  4. Times, Special To The Now York (19 July 1933). "A.VAN RENSSELAER, ARTS PATRON, DEAD | Philadelphia Philanthropist and Sportsman Succumbs to Long Illness at 82. | PRINCETON LIFE TRUSTEE | President of the Philadelphia Orchestra Association From 1901 Till Recently" (PDF). The New York Times. Retrieved 22 February 2017.
  5. "Anthony J. Drexel is Dead". The New York Times. July 1, 1893. Retrieved 2008-12-23. News of His Death Sent by Cable from Carlsbad. He Went There in Poor Health to Spend the Summer. Last of the Sons of the Founder of His House. Known All Over the World as a Financier. A Philanthropist as Well. Connected with Many Gigantic Transactions.
  6. Rottenberg (2001).
  7. "FRANCIS DREXEL'S WILL". The New York Times. 23 February 1885. Retrieved 25 April 2017.
  8. McDonald, Edward D.; Edward M. Hinton (1942). Drexel Institute of Technology 1891–1941. Haddon Craftsmen, Inc. pp. 4–5. ISBN 1-4067-6374-8.
  9. 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.
  10. "WANTS TO ENJOY HIMSELF.; Anthony J. Drexel, Jr., to withdraw from Hoeses His Father Founded". The New York Times. 21 October 1893. Retrieved 25 April 2017.
  11. "PERSONAL GOSSIP". The New York Times. 29 October 1893. Retrieved 25 April 2017.
  12. "Yachting Odds and Ends". The New York Times. November 17, 1893. Retrieved 25 April 2017.
  13. "DIVORCES A.J. DREXEL.; Wife of Philadelphia Banker Obtains a Decree in London". The New York Times. 26 May 1917. Retrieved 25 April 2017.
  14. Dearinger, Kevin Lane (July 29, 2016). Clyde Fitch and the American Theatre: An Olive in the Cocktail. Rowman & Littlefield. ISBN 9781611479485. Retrieved 25 April 2017.
  15. "MRS. BRINSLEY FITZGERALD". The New York Times. February 13, 1948. Retrieved 10 August 2016.
  16. "MR. DREXEL'S BRIDE.; THE YOUNG BANKER'S MARRIAGE TO MISS RITA ARMSTRONG". The New York Times. 15 September 1886. Retrieved 25 April 2017.
  17. "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.
  18. "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.
  19. "Margaretta Armstrong Finch-Hatton (née Drexel), Countess of Winchilsea and Nottingham". npg.org.uk. National Portrait Gallery. Retrieved 25 April 2017.
  20. 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.
  21. 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.
  22. 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.
  23. "Events of the Month in Aeronautics". Popular Mechanics. 14: 505. October 1910.
  24. "DREXEL FLYING FOR FRANCE.; Young Philadelphian in Lafayette Escadrille on West Front". The New York Times. 15 May 1917. Retrieved 25 April 2017.
  25. "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.

Further reading
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