Berlin (Sep. 23)
The work of a young German Jewish successful financier who overshadows the late Hugo Stinnes, by his patriotic attitude and efforts to bring about a deflation of the German currency, is the topic of many articles in the financial sections of the metropolitan newspapers.
The writers contrast his activities with those of the late Hugo Stinnes and other German industrial and financial magnates, who enriched themselves enormously by the still further inflation of German currency.
The man is Jacob Michael, who is only thirty years of age. He was born in 1894 in Frankfort, the son of an orthodox well-to-do Jewish merchant. He, too, is a strictly observant Jew. Soon after the war, where he fought from the outbreak, he founded the firm of J.Michael & Company, which developed rapidly, and in 1923 owned thirty huge concerns and had international ramifications.