A ROLLING STONE

Greymouth Evening Star, 1 April 1933, Page 3

A ROLLING STONE

MILLIONAIRE’S EXPERIENCES Sir Abe Bailey, the South African millionaire, is a gambler and a rolling stone. And he believes in gamblers and rolling stones. But they must be able to gather some moss. He made this clear in very entertaining fashion when he spoke to the Fellows of the Royal Empire Society. “That proverb about rolling stones is just tommy-rot,” he began. “Where would I. and those other great pioneers have been had we not been gamblers and rolling stones? I myself have been one of the world’s biggest gamblers—at cards, on the turf, and on the Stock Exchange. “I was brought up on porridge and religion. I ran a penny savings bank and worked in a store in the city. Then I got fed up and left, at the mature age of 16, for South Africa. “There I rolled about as a good rolling stone should. I did some trading. I had a fortune at nineteen and lost it.” “I joined the ’B6 gold rush to Barberton, and had to get a job diggingout somebody else’s gold. “Then I prospected and found nothing. “So I gave it up, borrowed £lO, and went in for broking. By the. time I had paid for my books and license I had 14/- left. But in a short time that £lO was £lO,OOO. “I lost it all again except £3,000, and with the high hopes of youth started again at Johannesburg. I gambled and speculated and soon had another £lOO,OOO. CECIL WAS RIGHT “I became chairman of the Johannesburg Stock Exchange, and met Cecil Rhodes, one of the greatest men in the world, the man who had the greatest influence on my life.” Sir Abe sighed and his clear blue eyes were filled with memories. “Cecil took a great fancy to me,” he explained. “I was talking to him and Dr. Sauer once on the step of the old Rand Club, and when I left he turned to Sauer and said, “There goes the cleverest youngster in Africa; he will make a fortune and lose it. “He was right, but by taking his own advice I eventually proved to him to be wrong. “Often I have been up against it on the Stock Market, and tempted to take some rash step. Then 1 have just put his initials in front, of me, and these alone have held my hand.” Sir Abe is a great lover of horses, and his gaze roamed to the prints of thoroughbreds that adorned the room. “Yes, I’ve gambled in horses, too.” he laughed. I once won £6OOO in a single bet. With Lovemalcb, one of my horses, I netted over £64,000. And I’ve won over £16,000 at cards in a single night’s mad gamble. “These days have gone, but the opportunity for the rolling stone has not. There are still the virgin lands of South Africa, Canada and Rhodesia for the man with ambition. “So why sit on a stool? 1 believe in the rolling stone. If you have a spark of ambition in you. go abroad, young man.”