An Old Feilding Identity

Feilding Star, Volume XIV, Issue 68, 26 November 1892, Page 2

An Old Feilding Identity

A. H. MALCOLM. The following summary of Mr Malcolm's career, taken from the Sydney Town and Country Journal, will be read with great interest by his many "friends" throughout the whole of this distnot: — The name of Alexander H. Malcolm, who was the promoter of the late Auitra> linn Banking Company, and of the Australian Mercantile Loan and GuaranV tec Company, Limited, has again been made prominent in connection with, the prosecutions of the officials of the now notorious Australian Banking Company. Malcolm, who was the pro* moter of the Bank, was several times referred to during the course of these prosecutions in a manner the reverse of complimentary, and it was not forgotten that he was also the prompter of the Australian Mercantile Loan and Guarantee Company whieb, when it came to grief, involved hundreds of trusting shareholders and depositors in its ruin, and sent it* directors, many of them public men, to the . shameful seclusion of a prison. The career of the founder of these two ill-omened ventures will be studied with interest by our readers, more especially as Malcolm's exact where* abouts appear to be shrouded in do«bt. True, an assertion was made at the Abigail M'Namara trial that Mr Mal« colm was at present engaged in the health»giving occupation of grouse shoot* ing on his Scotch estate, but the state* ment was not taken seriously by those who heard it. Malcolm is a Scotchman about 45 years of age, His most promi** nent personal characteristics are a large head, broad shoulders, short legs to the verge of dwarfness ; a pleasant face, a modulated voice, and a well-bred manner, that may aptly be described as insinuating. Though not much given to talking abont his own affairs, he mentioned once to an intimate, whom he befriended, and who was thanking him for the service, that "he was a near relative of the Duke of Life ; but," added he — . ... " Kind hearts are more than coronets. And simple faith than Norman blood/ Malcolm commenced his colonial career in New Zealand more than 20 years ago. He was a road and railway contractor . in the palmy days of . that island ; made a fortune and lost it jn speculation Ten years ago or so he had a sawmill near FeHding, in the/WeUiogM ton provincial district, and was regarded as a clever business man. One of his largest undertakings in New Zealand was the flotation of the". Caswell Sound Marble Company, which has since come to grief. He was married in New Zea* land, but bis marital relations were hot happy. He first loomed up on .the horizon- of Australian business life in the middle of the eighties, when, in eon* junction with a partner, ac commenced bill discounting and general financing in Sydney, The firm, however, did not long continue. But Malcolm was not idle. He, undaunted by misfortune, devoted his undoubted talents to the metamorphosing of a small loan business into the Australian Banking Company. The Operation was successful, and he blossomed into uppertendom as its managing director. He lived in great style in a palatial residence at Snail's Bay, Balmain, kept a creek yacht, the Carine, once the property of Major Gascoigne, aide to Lord Lohus, and was just getting up a reputation as a prin" cely entertainer when the dream of splendor ended. Some persons who knew of his antecedents bought up a number of his old bills for a few pence in the £, and the yacht and other belongings went to satisfy the demands of those who had bo cheaply- got the whi|> hand of him. This terminated his connection with the Banking Company. But he waß soon in harness again as the promoter of the Australian Mercantile Loan and Guarantee Company, and in 1890, visited England with the object of opening a branch of that institution. Early last year he was again in Sydney, but returned to London as manager of the branch there. His movements since the crash, which resulted in the imprisonment of J. P. Hows and his co*directors : have not been ascertained by many. Australian friends who take a lively interest in his weltare. j