Alfred Lowenstein
Encyclopedia
Alfred Lowenstein CB, was a Belgian
soldier
, aviator
, sportsman, and one of the most powerful businessmen during the early decades of the 20th century.
, Belgium, he was a wealth
y man by the time World War I
erupted in Europe
in 1914. He offered his government in exile
50 million dollars, interest free, to stabilize the currency in return for the right of printing Belgian franc
s. The offer was refused. He joined the Belgian
armed forces and following the army's retreat, Captain Alfred Lowenstein was sent to London
, England
where he was placed in charge of military
supplies. At war's end, he maintained a residence in England where he ran an investment
business that made him one of Europe's most powerful financiers. He partnered with the Canadian
-born investment house of Sir James Dunn in several business venture
, the duo emerging with more than £1,000,000
profit
from their 1920s investment in British Celanese
alone.
Lowenstein was an owner of a successful stable of Thoroughbred
steeplechase race horses
. His horses won the 1926 and 1928 runnings of the Grand Steeple-Chase de Paris
.
facilities for developing countries worldwide through his Belgian-based company, "Société Internationale d'Énergie Hydro-Électrique" (SIDRO). By the mid 1920s, Lowenstein's reputation was such that he was consulted by heads of state
from around the globe. The British government made him a Companion in The Most Honourable Order of the Bath.
In 1926, he established "International Holdings and Investments Limited" that raised huge amounts of capital
from wealthy investors wishing to get aboard his bandwagon of success. However, Lowenstein was rebuffed in his attempt to take over
a Canadian company called Barcelona Traction, Light, and Power
, a huge operation building infrastructure
in Brazil
.
to Brussels
on his private aircraft
, a Fokker F.VII trimotor
, along with six other people. While the aircraft was crossing the English Channel
at an altitude of 4000 ft (1,219.2 m), Lowenstein went to the rear of the plane to use the washroom. On Lowenstein's Fokker, a door at the rear of the main passenger cabin opened on to a short passage with two doors: the one on the right led to the washroom, while the one on the left was the aircraft's entrance door.
When he had not reappeared after some time, Lowenstein's secretary went in search of him and discovered that the bathroom was empty, and the aircraft's entrance door was open and flapping in the slipstream. The employee (along with the others on the plane) asserted his belief that Lowenstein had fallen through the plane's rear door and plunged several thousand feet to his death in the English Channel. The aircraft landed first on the beach before transferring to the airfield at Saint-Inglevert
, Pas-de-Calais, France
.
in his corporations'
publicly traded shares that immediately plummeted in value by more than fifty percent.
On 12 July it was reported that tests had been conducted by the Accidents Branch of the British Air Ministry using Lowenstein's aircraft. It was stated that an an altitude of 1000 ft (304.8 m) one of the Ministry men had thrown himself against the aircraft's entry door, which had opened about 6 in (15.2 cm). However, he was immediately thrown back into the aircraft when the slipstream violently slammed shut the door. It was concluded that it would have been impossible for someone to accidentally open the door and fall out.
His body was discovered near Boulogne on 19 July, and was taken to Calais by fishing boat where his identity was confirmed by means of his wristwatch; an autopsy
was performed (at the request of his family), his brother-in-law stating that they did not suspect anyone of foul play, but that they did not want anyone to suggest after the burial that Lowenstein might have been poisoned, or had died in the aircraft and then been thrown out. The autopsy revealed a partial fracture of his skull and several broken bones, and it was concluded that he had been alive when he struck the water.
ed him. The New York Times hypothesised that a growing absent mindedness
, noted by many of Lowenstein's acquaintances, may have caused him to walk out the wrong door of the plane. Because he had left behind a tangled web of business ventures, many of which were highly leveraged, others theorized that his business empire was on the verge of collapse. Some even asserted that corrupt business practices were about to be exposed and that Lowenstein, therefore, committed suicide
. None of these theories was ever proved.
In the book, The Airmen Who Would Not Die (Putnam, 1979), a medium reportedly made contact with Lowenstein, in the afterlife, to ask him how his death had occurred. Lowenstein stated that during the flight he developed an overwhelming desire to leave the plane. So, he went to the lavatory, opened the rear plane door and jumped to his death.
In 1987, William Norris wrote Lowenstein's story in a book titled The Man Who Fell From the Sky (New York: Viking, 1987). Norris ends up showing many points suggesting that if it was not a conspiracy by business rivals and associates, a certain opportunism existed regarding the death of the tycoon and his insurance. He also shows that later events are frequently ignored, such as the fact that Lowenstein's son would shoot one of the family servants under murky circumstances within a decade or so of the tragedy. The son eventually died in World War II. Norris concluded that Lowenstein had been thrown from the aircraft by Donald Drew, the pilot, at the behest of Madeleine Lowenstein, the motive being to gain control of Lowenstein's fortune. He suggested that the aircraft's rear door was completely removed while in the air and a replacement fitted on the beach at St. Pol.
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
soldier
Soldier
A soldier is a member of the land component of national armed forces; whereas a soldier hired for service in a foreign army would be termed a mercenary...
, aviator
Aviator
An aviator is a person who flies an aircraft. The first recorded use of the term was in 1887, as a variation of 'aviation', from the Latin avis , coined in 1863 by G. de la Landelle in Aviation Ou Navigation Aérienne...
, sportsman, and one of the most powerful businessmen during the early decades of the 20th century.
Early life and business career
Born in BrusselsBrussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
, Belgium, he was a wealth
Wealth
Wealth is the abundance of valuable resources or material possessions. The word wealth is derived from the old English wela, which is from an Indo-European word stem...
y man by the time World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
erupted in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
in 1914. He offered his government in exile
Government in exile
A government in exile is a political group that claims to be a country's legitimate government, but for various reasons is unable to exercise its legal power, and instead resides in a foreign country. Governments in exile usually operate under the assumption that they will one day return to their...
50 million dollars, interest free, to stabilize the currency in return for the right of printing Belgian franc
Belgian franc
The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into centimes , 100 centiem or Centime .-History:...
s. The offer was refused. He joined the Belgian
Belgian Army
The Land Component is organised using the concept of capacities, whereby units are gathered together according to their function and material. Within this framework, there are five capacities: the command capacity, the combat capacity, the support capacity, the services capacity and the training...
armed forces and following the army's retreat, Captain Alfred Lowenstein was sent to London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
where he was placed in charge of military
Military
A military is an organization authorized by its greater society to use lethal force, usually including use of weapons, in defending its country by combating actual or perceived threats. The military may have additional functions of use to its greater society, such as advancing a political agenda e.g...
supplies. At war's end, he maintained a residence in England where he ran an investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
business that made him one of Europe's most powerful financiers. He partnered with the Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
-born investment house of Sir James Dunn in several business venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
, the duo emerging with more than £1,000,000
Pound (currency)
The pound is a unit of currency in some nations. The term originated in England as the value of a pound of silver.The word pound is the English translation of the Latin word libra, which was the unit of account of the Roman Empire...
profit
Profit (accounting)
In accounting, profit can be considered to be the difference between the purchase price and the costs of bringing to market whatever it is that is accounted as an enterprise in terms of the component costs of delivered goods and/or services and any operating or other expenses.-Definition:There are...
from their 1920s investment in British Celanese
British Celanese
British Celanese was a chemical company based in England. Formed in 1918 it survived as an independent company until 1957 when it became a subsidiary of Courtaulds.-History:...
alone.
Lowenstein was an owner of a successful stable of Thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
steeplechase race horses
Steeplechase (horse racing)
The steeplechase is a form of horse racing and derives its name from early races in which orientation of the course was by reference to a church steeple, jumping fences and ditches and generally traversing the many intervening obstacles in the countryside...
. His horses won the 1926 and 1928 runnings of the Grand Steeple-Chase de Paris
Grand Steeple-Chase de Paris
The Grand Steeple-Chase de Paris is a Group 1 steeplechase in France which is open to horses aged five years or older. It is run at Auteuil over a distance of 5,800 metres , and during its running there are twenty-three fences to be jumped...
.
Business successes
Lowenstein also made an enormous fortune providing electric powerElectric power
Electric power is the rate at which electric energy is transferred by an electric circuit. The SI unit of power is the watt.-Circuits:Electric power, like mechanical power, is represented by the letter P in electrical equations...
facilities for developing countries worldwide through his Belgian-based company, "Société Internationale d'Énergie Hydro-Électrique" (SIDRO). By the mid 1920s, Lowenstein's reputation was such that he was consulted by heads of state
Head of State
A head of state is the individual that serves as the chief public representative of a monarchy, republic, federation, commonwealth or other kind of state. His or her role generally includes legitimizing the state and exercising the political powers, functions, and duties granted to the head of...
from around the globe. The British government made him a Companion in The Most Honourable Order of the Bath.
In 1926, he established "International Holdings and Investments Limited" that raised huge amounts of capital
Financial capital
Financial capital can refer to money used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e. retail, corporate, investment banking, etc....
from wealthy investors wishing to get aboard his bandwagon of success. However, Lowenstein was rebuffed in his attempt to take over
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
a Canadian company called Barcelona Traction, Light, and Power
Barcelona Traction
Barcelona Traction was a corporation that controlled light and power utilities in Spain and was incorporated in Toronto, Canada on September 12, 1911 by Frederick Stark Pearson. It was operated in Spain but was owned mostly by Belgians. The company was developed by American engineer Dannie...
, a huge operation building infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
.
Disappearance
On the evening of 4 July 1928, Lowenstein flew from CroydonCroydon
Croydon is a town in South London, England, located within the London Borough of Croydon to which it gives its name. It is situated south of Charing Cross...
to Brussels
Brussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
on his private aircraft
Aircraft
An aircraft is a vehicle that is able to fly by gaining support from the air, or, in general, the atmosphere of a planet. An aircraft counters the force of gravity by using either static lift or by using the dynamic lift of an airfoil, or in a few cases the downward thrust from jet engines.Although...
, a Fokker F.VII trimotor
Fokker F.VII
The Fokker F.VII, also known as the Fokker Trimotor, was an airliner produced in the 1920s by the Dutch aircraft manufacturer Fokker, Fokker's American subsidiary Atlantic Aircraft Corporation, and other companies under licence....
, along with six other people. While the aircraft was crossing the English Channel
English Channel
The English Channel , often referred to simply as the Channel, is an arm of the Atlantic Ocean that separates southern England from northern France, and joins the North Sea to the Atlantic. It is about long and varies in width from at its widest to in the Strait of Dover...
at an altitude of 4000 ft (1,219.2 m), Lowenstein went to the rear of the plane to use the washroom. On Lowenstein's Fokker, a door at the rear of the main passenger cabin opened on to a short passage with two doors: the one on the right led to the washroom, while the one on the left was the aircraft's entrance door.
When he had not reappeared after some time, Lowenstein's secretary went in search of him and discovered that the bathroom was empty, and the aircraft's entrance door was open and flapping in the slipstream. The employee (along with the others on the plane) asserted his belief that Lowenstein had fallen through the plane's rear door and plunged several thousand feet to his death in the English Channel. The aircraft landed first on the beach before transferring to the airfield at Saint-Inglevert
Saint-Inglevert Airfield
Saint-Inglevert Airfield is a general aviation airfield at Saint-Inglevert, Pas-de-Calais, France. In the First World War an airfield was established near Saint-Inglevert by the Royal Flying Corps, later passing to the Royal Air Force on formation and thus becoming RAF Saint Inglevert...
, Pas-de-Calais, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
.
News and investigation
News of Lowenstein's demise caused panic sellingPanic selling
Panic selling is a wide-scale selling of an investment, in order to get out of an investment . The main problem is that investors react simply out of emotion and fear, without evaluating the fundamentals. Almost all market crashes are caused by panic selling. Most major stock exchanges use trading...
in his corporations'
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
publicly traded shares that immediately plummeted in value by more than fifty percent.
On 12 July it was reported that tests had been conducted by the Accidents Branch of the British Air Ministry using Lowenstein's aircraft. It was stated that an an altitude of 1000 ft (304.8 m) one of the Ministry men had thrown himself against the aircraft's entry door, which had opened about 6 in (15.2 cm). However, he was immediately thrown back into the aircraft when the slipstream violently slammed shut the door. It was concluded that it would have been impossible for someone to accidentally open the door and fall out.
His body was discovered near Boulogne on 19 July, and was taken to Calais by fishing boat where his identity was confirmed by means of his wristwatch; an autopsy
Autopsy
An autopsy—also known as a post-mortem examination, necropsy , autopsia cadaverum, or obduction—is a highly specialized surgical procedure that consists of a thorough examination of a corpse to determine the cause and manner of death and to evaluate any disease or injury that may be present...
was performed (at the request of his family), his brother-in-law stating that they did not suspect anyone of foul play, but that they did not want anyone to suggest after the burial that Lowenstein might have been poisoned, or had died in the aircraft and then been thrown out. The autopsy revealed a partial fracture of his skull and several broken bones, and it was concluded that he had been alive when he struck the water.
Theories
Many theories have been put forward as to exactly what had happened to Lowenstein in the back of his plane; some suspected a criminal conspiracy in which his employees murderMurder
Murder is the unlawful killing, with malice aforethought, of another human being, and generally this state of mind distinguishes murder from other forms of unlawful homicide...
ed him. The New York Times hypothesised that a growing absent mindedness
Forgetting
Forgetting refers to apparent loss of information already encoded and stored in an individual's long term memory. It is a spontaneous or gradual process in which old memories are unable to be recalled from memory storage. It is subject to delicately balanced optimization that ensures that...
, noted by many of Lowenstein's acquaintances, may have caused him to walk out the wrong door of the plane. Because he had left behind a tangled web of business ventures, many of which were highly leveraged, others theorized that his business empire was on the verge of collapse. Some even asserted that corrupt business practices were about to be exposed and that Lowenstein, therefore, committed suicide
Suicide
Suicide is the act of intentionally causing one's own death. Suicide is often committed out of despair or attributed to some underlying mental disorder, such as depression, bipolar disorder, schizophrenia, alcoholism, or drug abuse...
. None of these theories was ever proved.
In the book, The Airmen Who Would Not Die (Putnam, 1979), a medium reportedly made contact with Lowenstein, in the afterlife, to ask him how his death had occurred. Lowenstein stated that during the flight he developed an overwhelming desire to leave the plane. So, he went to the lavatory, opened the rear plane door and jumped to his death.
In 1987, William Norris wrote Lowenstein's story in a book titled The Man Who Fell From the Sky (New York: Viking, 1987). Norris ends up showing many points suggesting that if it was not a conspiracy by business rivals and associates, a certain opportunism existed regarding the death of the tycoon and his insurance. He also shows that later events are frequently ignored, such as the fact that Lowenstein's son would shoot one of the family servants under murky circumstances within a decade or so of the tragedy. The son eventually died in World War II. Norris concluded that Lowenstein had been thrown from the aircraft by Donald Drew, the pilot, at the behest of Madeleine Lowenstein, the motive being to gain control of Lowenstein's fortune. He suggested that the aircraft's rear door was completely removed while in the air and a replacement fitted on the beach at St. Pol.
In popular culture
- In the film Such Men are Dangerous, made in 1931, Warner BaxterWarner BaxterWarner Leroy Baxter was an American actor, known for his role as The Cisco Kid in In Old Arizona , for which he won the second Academy Award for Best Actor in the 1928–1929 Academy Awards. Warner Baxter started his movie career in silent movies...
plays a tycoon who fakes his death in a private airplane disaster. - In the film GildaGildaGilda is a 1946 American black-and-white film noir directed by Charles Vidor. It stars Glenn Ford and Rita Hayworth in her signature role as the ultimate femme fatale. The film was noted for cinematographer Rudolph Mate's lush photography, costume designer Jean Louis' wardrobe for Hayworth , and...
(1946), George MacreadyGeorge MacreadyGeorge Peabody Macready, Jr. , was an American stage, film, and television actor often cast in roles as polished villains.-Background:...
disappears when his plane apparently explodes while trying to flee the police (subsequently it is learned he parachuted out of the plane). - In Orson WellesOrson WellesGeorge Orson Welles , best known as Orson Welles, was an American film director, actor, theatre director, screenwriter, and producer, who worked extensively in film, theatre, television and radio...
' Confidential Report (alternative title Mr. ArkadinMr. ArkadinMr. Arkadin is a French-Spanish-Swiss coproduction film, written and directed by Orson Welles and shot in several Spanish locations, including Segovia, Valladolid and Madrid.Its history is convoluted...
) (1955) the financier Gregory Arkadin jumps from his private airplane when he believes that his evil past has been revealed to his beloved daughter. - In 2010 Lowenstein's death was the subject of an episode of the History Channel's Vanishings! series.
See also
- Aviation accidents and incidentsAviation accidents and incidentsAn aviation accident is defined in the Convention on International Civil Aviation Annex 13 as an occurrence associated with the operation of an aircraft which takes place between the time any person boards the aircraft with the intention of flight and all such persons have disembarked, in which a...
- Financiers
- Companion in The Most Honourable Order of the Bath
- List of people who died in aviation-related incidents
- Twyford and ThorpeTwyford and ThorpeTwyford and Thorpe is a civil parish in Leicestershire, England, comprising the villages of Twyford and Thorpe Satchville, and the hamlet of John O' Gaunt. The parish, which is in the Melton district, has a population of 612 at the time of the 2001 census.Twyford is in the south of the parish, and...