Prologue
Will
1917
On an unusually balmy December day in 1917, John H. McFadden signed his will with a sense of success and modesty. His valet Robert Potts dutifully added his name as one of several witnesses. In 21st-century dollars, the Philadelphia cotton grandee and art patron was a multimillionaire; his estate, at more than $5.2-million ($73-million), [1] was bequeathed to his ‘beloved’ wife Florence and their three adult children. The eldest, Philip, was a high-goal polo player. Alice, the middle child, had a dilettante’s interest in the theatre. The youngest, John H. McFadden, Jr., or ‘Jack,’ was a former U.S. Army officer.
Despite his immense wealth, McFadden was a man of probity. He once told a friend that his aim in life was to create ‘lasting good.’ ‘Then I could die happy.’[2] On 2 December, a day before his 67th birthday, McFadden had that last mission in mind when he put a pen from his favorite stationer, Bailey, Banks & Biddle, to foolscap, and forever sealed the fate of his art collection as a gift to Philadelphia’s cultural patrimony. Or, maybe.
McFadden was an international ‘cotton man.’[3] Among only a handful of such commodity moguls in the late 19th century, he and his older brother, George, reigned over an empire that brokered and shipped raw American and Egyptian cotton worldwide. Millions of cotton bales made their way to mills in England and in New England, and millions of dollars made their way to the coffers of their family firm, Geo. H. McFadden & Bro., Cotton Merchants. [4] By the end of the Spanish-American War in 1898, the McFadden partnership, headed by George as managing director, had become the country’s largest cotton trading venture.
It further established itself as one of America’s first truly multi-national conglomerates,
with shipping and trading interests in Europe, Africa, and in South America. As the otherwise anonymous ‘Bro.,’ John McFadden headed the company’s key Liverpool subsidiary. A third brother, the youngest, got no billing. J. Franklin McFadden, was, like George, Philadelphia based. Like his nephew Philip, Frank, as he was known, was a poloist, enjoying the sport in the city’s Main Line suburbs and in Florida. Whatever their individual contribution, Geo. H. McFadden & Bro. ballooned into a prodigiously remunerative entity, making the three siblings millionaires many times over.
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