ROMANCE IN REAL LIFE.

Taranaki Daily News, Volume L, Issue 324, 25 January 1908, Page 3

ROMANCE IN REAL LIFE.

EKSTWHILE AIELBOCIOiE JE\\ELLEK.

AAIASSES FOltTl'Mi OF £2,000,000. PAYS HIS CKEDiTOiIS oOs IN THE X.

Perth (W.A.), January ',. Mr. W. Dcnshain, ollicial assignee, is returning to Alelbourne from his mission to London to sijuare up matters concern, iug the insolvent estate of Louis Spit/.el. .ilr. Deiisham stated that the man's career provides one of the most renuuKable romances in finance that has ever been told in tictiou or occurred in real liic. Over 25 years ago Spitzel was a working jeweller iu .Uelboume, and subsequently opened a business of his own. Shortly after lie became insolvent, Some time elapsed, when ne applied for his certilicate, which the Court refused, unless lie paid Ins creditors os in ihe Spitzel then disappeared, and nothing more was heard of him for four years, until a Alelbourne man, returning from China, staled that he had seen Uie exjeweller al Shanghai, where he had apparently got in close touch with the

highest ollicial circles of the Celestial Empire. At the time of the ChinaJapanese war Spitel was largely interested in the Chinese army contracts, and was apparently hand-in-glovc with Ei Hung Chang, the leading statesman of China. The exact business relations uetween the two were never clearly defined, and it was not known whether Spitzel was a partner, or merely a jackal lor Chang. lie, however, rapidly accumulated great wealth. Spilzel was next traced during the Kusso-iapanese war, as owner ol a steamer engaged ill running the blockade from Shanghai to Port Arthur. So far as Australia was concerned, nothing more was heard of Spilzel, until a cable was published in London that the Alelbourne press announced that Louis Spitzel, formerly an Australian, died at Carlsbad, leaving a fortune estimated al £2,000,01.10. 'Air. Dcnsham states thai Joseoh Woolfe then called attention to the fact that a man of the same name became insolvent in Alelbourne a quarter of a century before, ami then disappeared. In- '. quiries showed that the men were idem i- ; tal. .Meantime the ollicial receiver in the insolvent estate, named J. A. Comb, had died, and Air. Dcnsham was appointed in his place. Subsequently a lawyer was sent to England to endeavour to secure it settlement. Air. Dcnshain states that he thought he was on a wild goose chase, but found no great dillieulty when he started work. He saw the executors, who were reasonable business merj ami placed the legal position before then, pointing out that deceased had no right to acquire property before obtaining his certilicate, and thai, so far as the British property was concerned, the assignee took Ihe place of trustees. It was found that the properly in England (including ' a handsome bouse in Park Lane, which : was in the occupation of deceased's sons) i was valued at £200,000. Spitzel al»o ' left valuable properties at Carlsbad, and ! rich concessions and properties in China,' the exact value of which was not ascertainable, but quite probably would I amount lo the £2,01)0,000 first stated, i Air. Deneham also ascertained that Spitzel operated largely on the London i Stock Exchange, also iu Paris and Berlin, and had many big transactions in China.

■When Spitzel's Australian career was discussed quietly surprise was expressed that he should have attained audi a prominent position in tlie higher ullieial circles. IJis wliole career appeared most remarkable, and since leaving Australia lie had been wonderfully successful. ■Mr. Bensliam states that after some consideration the trustees, with the approval of the deceased's family, decided to pay all the Melbourne creditors of the estate 20s in the X., with ti per cent, interest added, for twenty-live years. That places me, Mr. Densham continued, in the unique position of being able to return to Melbourne to pay tlie creditors 50s to the ii. It is doubtful whether all the creditors are now alive or can be traced. Inquiries made by Mr. Densham Jn England showed that Spitzel was resident there, and posed as an earnest British patriot, tie endeavoured to instil patriotic ideas into his children. At his death he left a considerable sum for the preparation of patriotic books for distribution in public schools.