OBITUARY

Evening Post, Volume CXXIV, Issue 50, 27 August 1937, Page 10

OBITUARY

MR. ANDREW MELLON

A NOTED AMERICAN

{United Press Association—By Electric Telegraph—Copyright.) (Received August 27, 2.45 p.m.) /NEW YORK, August 26. The ■■ death1 has occurred of Mr. Andrew Mellon, the noted industrialist, formerly Secretary to the Treasury and Ambassador to Great Britain. Mr. Mellon was 82 years of age. He was one of the three richest men in America, and the extent of his fortune may be gauged from the fact that the stock market boom up to the end of 1929 increased the value of his holdings in only two companies,. United States Aluminium and Gulf Oil, by over 300,000,000 dollars. Mr. Mellon was the son of the founder of the Mellon National Bank of Pittsburgh, and the fortunes of the family were bound up with the large Pittsburgh industrial enterprises. He was president of the Mellon National Bank, and an officer and director of various financial and industrial corporations. He was also engaged in the development of coal, coke, and iron enterprises. He resign-; ed the presidency of the Mellon Bank in 1921 to become Secretary of the Treasury in the Cabinet of President Harding, and remained in that office under President Coolidge and President Hoover. In 1932 he was appointed Ambassador to Great Britain, an office which he held in March, 1933. At various periods he served as chairman of the Federal Reserve Board, the Farm Loan Board, and the U.S. section of the Pan-American High Commission, and he was also a member of the board of the Reconstruction Finance Corporation. With his brother Richard he was awarded the chemistry medal in 1931 by the American Institute of Chemists, as a pioneer patron of science. ' Mr.'Mellon's collection of pictures is world famous. Not. large, it.is-very, choice. . In January, 1929, he bought the "Cowper Madonna" for the record price of £200,000, thus becoming the possessor of the last privately-owned Raphael in England. • ■•-...

The rise .of Mr. Mellon has been referred to as the rise of the United States. He became associated with concerns which grew. He financed a young man .named Henry. C. Frick'.in the days of' struggle'to establish coal, coke, and iron industries, and Frick's enterprise turned into the Carnegie Corporation; • Mr. Mellon" gradually became more and more involved in the commercial destiny of Pittsburgh. Even at an advanced age, Mr. Mellon still walked to his office each day. A tall, slightly-built man, a member of what is reputed •to be the richest family in the world, he gave the impression of intense nervous energy under complete control.