FINANCIAL HOLDINGS

Evening Post, Volume CVI, Issue 5, 6 July 1928, Page 9

FINANCIAL HOLDINGS

REPORTED TO BE;SOUND DEATH; REMAINS MYSTERY, ' British Official Wlroless. RUGBY, sth Julyy. The news that Captain Loewenstein, the Belgian international financier, had last night fallen from his private airplane when crossing the Channel had a considerable effect on the stock markots to-day. Captain Loewenstein was largely concerned in electric power and artificial silk undertakings. His death affected particularly the Hydro-electric and International Holdings Companies. On the London Exchange the shares of the former at one time touched 20, but near the closo recovered to 25J, and International Holdings were quoted at 145, having earlier dropped to 100. The Advisory Committee of these concerns issued a statement this afternoon declaring that the financial position of both is sound and that so far as they know Loewenstein's large holdings wero unencumbered. Captain Loewenstein was credited with an immense, although greatly fluctuating fortune, and his huge financial deals, his numerous estates in different countries, his racing establishments, and his fleet of private airplanes helped to make him a spectacular figure. The exact circumstances of his death remain a mystery It is assumed that he had left the saloon, in which eight members of his staff were travelling, for tho retiring room in the end of the airplane, the door of which adjoins that out of the machine, and no search was made for him until he had been absent a quarter of an hour. It is difficult to understand how ho opened the wrong door, since the wind pressure on it would be very great; but his friends state that he was very absent-minded, except where business was concerned. The machine was 4000 ft up at tho time, but the pilot alighted at Dunkirk Sands when notified., Coastguards and shipping have been warned, but it is un-

likely that the body will be recovered. The deceased leaves a widow and a son.