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Sir Henry Pellatt:

 

King of Casa Loma

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Curse of Casa Loma

There are pretty strong indications that if Sir Henry had not undertaken such a large, expensive, capital-intensive project such as Casa Loma, he might have not have ended his life as a pauper.

Certainly the plutocrats to the south and other Canadian builders were not drawn under by the albatross of architecture. But what was clear was that his businesses were not doing that well, he was forced to give up a lot of holdings because of his close and intimate ties to the Home Bank which collapsed and he was just not as rich as he made out to be.

cus10059.jpg (187912 bytes)Sir Henry's  appearance of wealth was far greater than his actual holdings. He was one who passionately tried to live his life on a grand scale however, when he suddenly had his financial bubble  burst  he found it increasingly difficult to maintain such a   royal style of life.

 

And as often happens when events turn against one, it is difficult to reverse the trend. Sir Henry could not dig himself out of the hole he was inexorably slipping  into and even though he tried numerous other ventures, he was never again seen or treated as a serious businessman nor would his peers ever trust him again.

Other examples of the curse:

While writing the biography Sir Henry Pellatt: King of Casa Loma, the author too went bankrupt. Was this poetic justice or the result of foolishness, stupidity, bad budgeting, the curse of the castle, depressed  real estate market or just fickle fate? Who knows? To put it into proper perspective, however, the author did not have as far to fall.

Nevertheless,  both did not bounce.

 

 

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