“SHIPPING WIZARD” DEAD

Taranaki Daily News, 19 July 1933, Page 7

“SHIPPING WIZARD” DEAD

SIR J. ELLERMAN’S CAREER MODERN DICK WHITTINGTON YEARLY INCOME A MILLION ONE OF RICHEST IN BRITAIN By Telegraph—Press Assn.—Copyright. London, July 17. The death has occurred of Sir John Reeves Ellennan, one of the richest men in Britain and reputed to be worth £30,000,000. Although among London’s largest landowners he was almost unknown to the public. His income was estimated at £1,000,000 yearly, of which he spent only 5 per cent., investing the surplus. He gave generously to charity. Sir John died at Dieppe, France, at the age of 71. His body will be taken to London by ship to-morrow night. It is believed that no millionaire in the world suffered so little as he did from the depression, because of the high values of everything , with which his name was coupled. r ..

He was described as a modern Dick Whittington. He came to London as a clerk and soon began business himself as an accountant. He knew nothing about shipping, but at the age of 27 he formed a company to buy the Leyland Line. He afterwards bought other lines that .were in low water, and became known as a shipping wizard, as he turned them all into prosperous paths. At one time he controlled nearly 300 ships and knew without reference to documents exactly where each was and the freight it carried. , , He had no extravagant hobbies, shunned publicity and refused a peerage. He was controlling owner of the Ellennan,City, Hall and Bucknail shipping lines.