Episode 57: Covered Losses
Though wealth provides some protections, the seeds of despair can grow anywhere.
Another life is lost during a game of chance.
The Suicide Prevention Lifeline
1-800-273-TALK or 1-800-273-8255
www.suicidepreventionlifeline.org
Archival music provided by Past Perfect Vintage Music, www.pastperfect.com.
Publish Date: April 28, 2022
Length: 21:58
Opening Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands
Section 1 Music: A Foggy Day by Carroll Gibbons, Album Sophistication 3
Section 2 Music: Just A Mood by Benny Carter & His Orchestra, Album Nightfall – Sophisticated Jazz Classics
Section 3 Music: Lost In A Fog by Coleman Hawkins & His Orchestra, Album Nightfall – Sophisticated Jazz Classics
End Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Ban
AS THE MONEY BURNS
Podcast by Nicki Woodard
Episode 057 – Covered Losses
00:00
[Music – My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands]
AS THE MONEY BURNS is an original podcast by Nicki Woodard. Based on historical research, this is a deep exploration into what happened to a set of actual heirs and heiresses to some of America’s most famous fortunes when the Great Depression hits.
Each episode has three primary sections. Section 1 is a narrative story. Section 2 goes deeper into the historical facts. Section 3 focuses on contemporary, emotional, and personal connections.
00:28
Story Recap
Spring is filled with charity events, Society burglaries, and romantic scandals. Dangerous playboy Phil Plant woos debutante Barbara Hutton, while richest boy Huntington Hartford secretly elopes with simple Mary Lee Epling.
Now back to AS THE MONEY BURNS
Title
00:47
Covered Losses
[Music Fade Out]
Episode Tag
Though wealth provides some protections, the seeds of despair can grow anywhere.
Another life is lost during a game of chance.
*Please note this episode extensively covers a suicide.
01:06
[Music – A Foggy Day by Carroll Gibbons, Album Sophistication 3]
Section 1 – Story
[Music Fade Out]
01:20
Another Palm Beach winter season ends as the wealthy drift back to New York and elsewhere before the summer vacations and tours begin.
Away from Colonel Bradley’s establishment, the dark haired with bright blue eyes, the debonair James Paul Donahue, Sr. needs to recover from his $900,000 losses at the table. He loses far more than he ever wins. His ever-faithful wife Jessie Woolworth Donahue once again takes care of the tab. She always pays his tab. Only this time she is pushed over the edge.
01:54
On April 13th, 1931, Jessie suffers a nervous breakdown and takes a rest at the Harbor sanitorium on Madison Avenue. Many suspect James’ penchant for gambling, extra marital activities, and his heavy drinking and drug use has pushed her too far. There are still plans for a European excursion within a few short weeks. That following week James also has his will amended.
Meanwhile James and their teenage sons 18 year old Woolworth “Wooly” Donahue and 15 year old James – Jimmy – Jeem – Donahue, Jr. are staying at the 6 East 80th Street townhome. Back in December 1930, Wooly and Jeem served as their cousin Barbara Hutton’s escorts for her elaborate and disastrous debutante ball.
02:40
Sunday April 19th, 1931
That afternoon, broker Milton Doyle and Gordon Sarre come over for lunch and a card game.
James sits there staring at the cards in his hand. It’s another loser. No luck whatsoever.
At 4:30pm, James excuses himself from the table, goes to the lower apartment downstairs, and locks himself in the bathroom. Wooly follows and stays on watch nervous. James steps out and announces, “I have done it.” Then goes upstairs and resumes his card game.
03:20
Immediately, James becomes ill. As he picks up the cards, he is noticeably sweating, his mouth fills with saliva, and his hands tremor and shake. He gasps for breath as his mouth and throat are on fire.
When James falls over and starts convulsing, Doyle and Sarre spring into action. Sarre dashes downstairs into the bathroom. On the washstand, he spots 19 hexagonal blue bichloride of mercury pills stamped “poison” spilling out of an open blue bottle, the label is from February 7th, 1921. Sarre rushes upstairs shouting instructions for the antidote and tells Wooly to call the doctor. Doyle and Sarre scramble to make the antidote of eggs and milk and shove the mixture into James’ mouth.
04:06
After Doctor Locke MacKenzie arrives, James refuses to be put on a stretcher and insists, “I think I’ll feel better if I walk.”
With the assistance of the Doctor and Doyle, James walks out and climbs into the ambulance.
At the Harbor hospital, two transfusions of blood are attempted to dilute the poison, but they have little effect.
“I’m a chump for doing this. Please do not tell my wife about it because I love her dearly.” James pleads.
“I can’t tell you why I did it. I don’t know why myself. I was foolish.” He does not want to hurt Jessie further. Though she is on the other side of the same medical facility.
04:54
By Tuesday, it is clear James will unlikely survive. Roman Catholic last rites are performed.
On Wednesday, Jessie is wheeled into the room to spend final moments with her husband.
On Thursday at 10:30am, James finally succumbs to his fate. Jessie is beside him during his final hour. Their sons Wooly and Jeem, sister-in-law Helena McCann, and other relatives are also present.
Jessie insists that his death not be reported a suicide, much like her father had done with her sister Edna’s death. Physician Dr. Henry Craig Fleming insists the diagnosis is uremia. Only the press announces the true details. Still arrangements for a Catholic mass are made by Monsignor Stephen Donahue, second cousin to James and secretary to Cardinal Hayes.
Alone while their mother stays at the hospital, the sons Wooly and Jeem are trapped in an upstairs room inside the home. Their father lays in his coffin in the parlor as many come to pay their respects. Outside the press gathers taking photos, and eventually the police manage the traffic and crowds.
06:09
On Saturday, the bronze coffin is covered in orchids at the service at St. Ignatius Loyola on Park Avenue. Afterwards, a 25 car motorcade follows the hearse to Woodlawn Cemetery where James is placed inside the white marble Egyptian styled temple structure serving as the Woolworth family mausoleum.
Heartbroken over her loss, Jessie refuses to return to the townhome, built by her father to keep the family close. She also avoids Wooldon Manor on Long Island and will never again ride in their private Pullman railcar Japauldon. She moves into a suite of rooms at the Pierre Hotel.
Never capable of truly dealing with cards dealt to him and her, Jessie always covered his losses and is now lost without him.
07:01
[Music – Just A Mood by Benny Carter & His Orchestra, Album Nightfall – Sophisticated Jazz Classics]
Section 2 – History & Historiography
[Music Fade Out]
07:16
Suicide has previously been covered in this series. Episode 08: Never After details the suicide of Edna Woolworth Hutton distraught over her husband Franklyn Hutton’s philandering and is discovered by their young daughter Barbara Hutton. Episode 26: Contagion covers the largest suicide immediately tied to the aftermath of the 1929 Wall Street Crash with banker JJ Riordan.
07:39
Prior to the October Crash, suicide was higher that 1929 summer than immediately afterwards but will grow months later and over the next couple years as the Great Depression indicates there will be no immediate reversals back into good fortune. The statistics for 1931 is 24,000 cases of self-destruction with another 30,000 attempted failures. Across the United States, the rate of 20 suicides per 100,000 population in 1930 will become 70 by 1932.
08:10
James Donahue, Sr. will be listed in the prominent suicides of 1931. A far distance from how life seemed to be going for him. Almost 3 decades earlier at an ice skating rink, mercantile millionaire Frank Woolworth’s youngest daughter Jessie Woolworth met and instantly was smitten with James Paul Donahue. James was dark haired, bright blue eyes, a vivid wit, a snappy dresser, and the youngest and ninth child in a large Irish family that made its wealth in the fat rendering business.
At 26 years old and close to old maid status, Jessie is determined not to repeat the more boring marital alliances of her older sisters Helena McCann to a former district attorney and Edna Hutton to a stockbroker. Both of whom serve as her only bridesmaids. Their father Frank Woolworth desperately tries to dissuade Jessie from the feared unsuitable match, yet Jessie holds her ground.
09:04
Jessie and James marry in February 1912, the same fatal year of the Titanic. It is said that Frank Woolworth wept after the ceremony. The newlyweds embark on a two month honeymoon in Canada and parts of the United States. To prevent any future complications, Jessie gifts her new husband $5 million dollars so he would not be dependent upon her as he gets almost nothing from his own family.
Upon return, there is an attempt to help James find a suitable profession both within the father-in-law’s Woolworth company and then at brother-in-law’s EF Hutton brokerage firm. James is both inadequate and uninterested in the rigors of work that drive his in-laws.
09:42
James eventually settles on establishing his own brokerage firm where his primary and basically sole client is Jessie. This independence provides them with the ample freedom to continuously travel the circuit they prefer – Manhattan, Southampton, Palm Beach, and to Mexico, South America, Paris, Monte Carlo, and Biarritz. Their favorite places often have the best casinos.
10:05
They have two children Woolworth Donahue born in January 1913 and James Paul Donahue, Jr. born in June 1915. Wooly and Jeem as they are more popularly known amongst close friends and family are a little wild, playful, and charming. Their education is continuously interrupted as their mother treats them more like accessories and hardly enforces strong child rearing practices. She quickly accedes to any whim and sickly ailment as reasons to interrupt their schooling, of which her favorite Jeem takes extreme advantage.
10:35
Meanwhile, the older James grows restless. During Prohibition, New York tries to crack down on several vices, including homosexuality. The lure of getting caught drives the practice more underground and tantalizing. James and his namesake youngest son both will be well known for their exploits in this arena. Jeem will be more open about his preferences and will refer often to his father’s secret.
Around the time of the suicide, James has grown despondent after being rejected by a lover possibly a sailor who now rebuffs but at first accepted the large expensive gifts James so generously gave to his lovers. Regardless his wife Jessie remains devoted, though she has grown quite weary of his cheating as well as his penchant for gambling.
11:18
Yes, gambling. Since their honeymoon, James frequents multiple establishments. His favorite game is chemin de fer, also called shimmy, a French version of baccarat popular in European casinos. Jessie too enjoys the roulette table but has some limitations. She puts James on a restriction that he can only lose $50k a night or she won’t pay in the morning. Many note they never see him win. Occasionally, he goes over the limit by $10-15,000. Nevertheless, she always covers his losses.
11:53
Previously, I discussed a string of burglaries happening in 1931. There is another burglary that made even more press years earlier. In 1925, after returning from another European trip, Jessie Woolworth Donahue places her jewels into the Hotel Plaza safe inside her suite then takes a bath.
Twenty minutes later as she prepares for the evening, she discovers they are missing. Police are called, and an investigation begins. The butler and maid are questioned. Two days later, the jewels are located, and an exchange arranged with private detective Noel Scaffa for their return. Within a week’s time, all is returned except the velvet purse that held them. There is so much press the New York police insist on a further investigation. Why? The jewels – 2 pearl necklaces, 1 10-carat diamond ring, 1 diamond bar pin, and 2 diamond rings are worth $683,000 (today 2022 $11.2 million) thus the largest jewel heist in New York history up until that time. The press and public demand criminal prosecution, and every possible suspect is considered.
13:00
James begs to drop the matter claiming to fear potential kidnapping attempts of their children. Scaffa is later charged and arrested on suspicion, but after months of inquiry Scaffa is released and no further investigation occurs. By the way, the Assistant District Attorney Ferdinand Pecora supervises the case, the same one who worked the 1923 Broadway Butterfly murder case and will lead the investigation into the financial crimes of Wall Street in 1931 & 1932, featured in Episode 29: Taxman Always Collects.
13:33
In the end, as Wooly would later reveal, it is surmised that the thief is none other than James Donahue, Sr. himself. Most assumed he was afraid of asking for help to pay off another gambling debt, but the reason might have been more salacious – blackmail by a former lover who is also a black dancer. James stole the jewels but is unable to pawn them due to their distinctive characteristics of high value plus the publicity surrounding them. Jessie again pays out until all is hushed, and the matter is dropped.
14:04
Their marriage spirals into one of misery. On the surface lavish and luxurious, all masking the darker underbelly. Still in the end, James appreciates and loves his wife Jessie despite causing her and the boys more misery with his sudden and horrific death. Wooly and Jeem will struggle for the rest of their lives from witnessing his suicide.
It might seem a bit odd to mention the theft and the suicide together despite years apart. Yet both are tied in the press coverage of his death. It is believed another gambling losing streak plus secretly the recent romantic rejection are the catalysts to James taking his life.
14:40
Though mercuric bichloride is no longer prescribed, back then it was used to treat several conditions ailments including syphilis. Not only is mercury toxic, but bichloride has corrosive properties. In the 1920s, the compound was a cure all used to treat many health ailments as well as other physical textile items like wood and construction materials. The heavy use meant the deadly side effects became quickly noticeable. Mercuric bichloride poisoning may also involve ulcers, blisters, bleeding gums, vomiting blood, insomnia, and kidney failure. It can be a quick or very slow painful death.
15:20
Jessie attempted to replicate her father with her sister Edna’s suicide being kept out of the papers, but this time she had no luck. Donahue’s physician Dr. Henry Craig Fleming officially claims uremia with maybe an accidental suicide, but the coroner’s office assistant examiner Dr. Dewey Weinberg insistently reports the death as a suicide citing the comments by James at the hospital. No actual motive is determined, since the fact no suicide note nor letter is found. Even in the press notification of his death, the New York Daily News announces, “the lingering suicide’s death ended the debonair career of society’s greatest gambler – James Paul Donahue, husband of the heiress of the 5-and-10-cent store millions.”
16:03
By then, his estimated yearly loss is $1.5 million a year. I am not sure that is the amount back then or 2001 the time in which source was writing. Jessie inherited a large pot, but for how long that amount could last remains to be seen. The personal estate of James was $250,000 ($4.7 million today) in the bank account, some cash in a home vault, the Wooldon Manor in Long Island, and the private railcar Japauldon. The latter two of course were bought by Jessie. From the nearly $2.9 million (or $54 million today) in Woolworth stock, $1.77 million ($33.5 million today) is used to pay off his debts. The relatively small amount of cash is split between their sons when they reach 35, while the property reverts to Jessie.
16:50
Never truly getting over James, Jessie continues her lavish lifestyle and becomes even more gypsy like over the next few years.
Only how much of Jessie’s money is left over, and where will it all go? Will she ever be able to buy true happiness? Or will she forever cover her losses to unsatisfactory ends?
17:12
[Music – Lost In A Fog by Coleman Hawkins & His Orchestra, Album Nightfall – Sophisticated Jazz]
Section 3 – Contemporary & Personal Relevance
[Music Fade Out]
17:27
These last couple of years have been rough with almost everyone losing someone close to them. I was aiding some close relatives and friends with their recent losses, when I was hit with two more of my own within a short period of time. I have already lost several people in my life, and each has its own nature and circumstances with which to cope.
Previously, I have discussed the topic of suicide including my experiences with those around me attempting or committing suicide. I have discussed my own deep depressions and darker thoughts. Today, I want to take a different angle focusing more on those surviving any form of death.
18:03
The age, the nature of the death, the proximity of relation, and so many factors can make it hard to accept and move on. And there are situations where you really can’t just move on. At least not in the way the world and community around you will push you to do. Yes, you will eventually have to move forward and function, and every step will be hard. When death is particularly painful (someone young, a primary relationship, a suicide…), you might spend a lifetime in mourning. Certain dates will be triggers especially the firsts, special anniversaries, certain lengths of time, another set of troubles or hard times… might reopen the old wound.
18:45
What might be even harder is finding your way back to any form of happiness or joy. With all trauma, joy can be the most terrifying, because the hope of something good is overshadowed by the fear of losing that too. Many get stuck in a loop trying to avoid the pain of happiness because it feels like a betrayal of the loved one or a reminder of the loss. I don’t know what else to say but that you must find your way through it. Otherwise you will spend the rest of your life in misery. That will not bring back the loved one, and it will keep you locked in a world of isolation that could lead to further problems for you and your surviving loved ones.
19:27
Pain can become an identity that is very hard to let go. Like anger it can feel empowering for a moment, but like resentment becomes a poison within.
I never want to blame or shame someone who is going through dark times, but I also know the extreme importance of going through the stages of mourning, accepting what will sadly now be, and trying to move forward to some light out of the darkness that can be so consuming.
19:56
I am telling these tales because of that exact reason. When we hear the word heir or heiress, we relate more to the idea of a sudden positive monetary windfall. For me, I react more to the concept of death and its effects. The people in these tales did not handle their problems well, and money ended up far more often than not exacerbating the circumstances. The emotional journey is critical especially when dealing with the finality and absolutism that comes with any death.
20:31
If you or anyone you know is struggling with suicidal thoughts or ideation, please reach out to the various public services. The Suicide Prevention Lifeline, 1-800-273-TALK or 1-800-273-8255, website www.suicidepreventionlifeline.org. The VA hospital also has services for depressed veterans, and many more free services may be available in your area or online.
Hook
21:06
[Music – My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands]
Next when we return to AS THE MONEY BURNS…
Heiresses dream of royal romances with fairytale endings. As one marries her prince, another dances with a future king.
Until then…
Credits
21:24
AS THE MONEY BURNS is an original podcast written, produced, and voiced by Nicki Woodard, based on historical research. Archival music has been provided by Past Perfect Vintage Music, check out their website at www.pastperfect.com.
Please come visit us at As The Money Burns via Goodpods, Twitter, Facebook, or Instagram. Transcripts, timeline, episode guide, and character bios are available at asthemoneyburns.com.
21:58
THE END.