MR ANDREW MELLON DEAD

Hawke's Bay Herald-Tribune, Issue 190, 28 August 1937, Page 6

MR ANDREW MELLON DEAD

-Pregi X««n.-

(Dne oi Three Richest Men in America NOTED INDUSTRIALIST

(By Telezraph-

-Copyriebt.)

ItJSWj YOBKj August 26» j After saffering from declining health jfluring ihe past summer, Mr Andrew jMellon, tio ioted industriaJist, form®rly Secretary to the Treasury and JLmbassador to Great Britain, died tojday from bronchial pneumonia and jKa'emia* t Ms Mellon was 82 years of age* He waione of the three" richest men in jAmerica, and ihe exient .of his f ortune paay b® ganjgd from the fact thaft tke ■tock market boom up to the end' of J1929 increased the vaiue of Ms holdpngs in only two companies, United Etates AiwTwiTiintw and Gulf Oil, by over 100,900,000 .dollaxs. Mr Mellon was the ma, of the. founder of the Mellon jNational Bank, and an offieer and jdirector of yarious finanelal and industrial corporations, He was also engaged in the development pf eoal, coke and iron enterprises, He resigned the presideney of the Mellon Bank in 1921 to become" Secretary of the Treasury. in the Cabinefc of f resident Harding, and remained in that .office. under President. Goolidge and President Hoover. Mn '1932 he was appointed Ambassador to Great Britain, an office which he held in Mareh, 1933. . ' . . At .various periods he served as ■ehair■aan of the Federal Beserve Board,' the Farm'Loan Board and the U.S; section of ihe Pan-American High Commission, •nd he was also. * member of the board

kf the Beeonstruetion Finance "CorporaItton. With his brother Richard he was jawarded the chemistry medal in 1931 jby the American Institnte of Gfeemists, p a pioneer patron of science. J Mr Mellon 's collection of piotures is iworid famous. Not large, it is very jahoice. In January, 1929, he bought ithe Gowper Madonna for the xecord fprice of £200,000, thns becoming the iposessor- of the last privately-owned (Raphael in England. • The rise of Mr Mellon has been ro* iferred to as Ihe rise of the TJnited Etates. He beeame associafced with jeoncerns which grew. He financed a lyoung man named Henry 0. Frick in Ithe days of struggle to establ'ish coal, leoke and 'iron industries, and Prick 's. ^onterprise turned into the Carnegie iCorporation. Mr Mellon gradually bejeame more and more involved in the looxnmercial destxny of Pittsbuirgh. i Even at an advanced age, Mr Mellon ntill walked to his office • each day. A Itall, slightly-bnilt man, a member . of Iwhat is xeputed to be the richest family , jin the world, (be gave the impression Lf intense nervous energy under comjplete controL