Episode 102: Not Out
After previously closing their mansion, a struggling couple returns to host a wonderful buffet to start the new year, but have things really changed for the better?
#DorisDuke, #BarbaraHutton, #Mdivani, #Stotesbury, WhitemarshHall, #Christmas1932 #ManhattanDerby, #NewYear, #1933, #EpsteinList, #RichestBaby, #RichLists, #GreatDepression,
December 1932 – January 1933, Christmas and holidays brings plenty of activities. E.T. Stotesbury and Eva Stotesbury are back in Philadelphia but not at their large mansion Whitemarsh Hall celebrating both Christmas and New Year before heading down to Palm Beach. Plenty of people are looking at the wealthy, unaware what they might be truly hiding as others try to recover from financial losses by several means.
Other people and subjects include: Doris Duke, Barbara Hutton, Nanaline Duke, Prince Alexis Mdivani, Louise Van Alen, Daisy Van Alen, James “Henry” Van Alen, Eleanor Van Alen, John Jacob Astor VI aka “Jakey,” James H.R. Cromwell aka “Jimmy,” Cobina Wright, Henrietta Hartford, Huntington Hartford, Gertrude Vanderbilt Whitney, Alice Vanderbilt, Countess Gladys Vanderbilt Szechenyi, Marjorie Merriweather Post Hutton, E.F. Hutton, Princess Roussadana “Roussie” Mdivani Sert, Helena McCann, Louise Brooks Howard, Christine Cromwell, Anna Dodge Dillman, Frederick Vanderbilt, Louise Vanderbilt, Charles Lindbergh, Constance Morrow, President Franklin Roosevelt, New Deal reforms, Henry Ford, Harvey Firestone, Simon Guggenheim, Otto Kahn, Charles Schwab, former U.S. Ambassador Charles Dawes, Sailing Baruch, Jr., Coco Chanel, Lanvin, Lotte Lehmand, Not Out parties, debutantes, teas, buffets, Christmas playlet, Manhattan Derby, burlesque polo match, hob by horses, Voice of Young America book, taxation, IRS – Internal Revenue Service, Robert Mann, Mrs. Wilmer Biddle – Elizabeth Southall Clarke, Albert Davis, Marianne Davis, Princess Anita Stewart de Braganza, Mrs. Moses Taylor, Julia Berwind, Prince Colonna, Mrs. Nicholas John Brown, Nicholas John Brown II, John Nicholas Brown III, labels, monikers, richest baby, wealthiest baby, richest pony, richest girl in the world, richest U.S. heiress, richest unmarried women, retiree list, financial secrets, open knowledge, Lindbergh baby kidnapping, Starr Garden Recreation Center, Barclay Hotel, Montparnasse, Whitemarsh Hall, Malmaison, *El Mirasol & Playa Riente not mentioned but referenced, Harvard University, Hotel Plaza, Waldorf-Astoria Hotel, Manhattan, Philadelphia, Palm Beach, Newport, St. Moritz, Paris, Rome, New Year 2024, changes, Powerball 2024 winner, Michigan lottery, Jeffrey Epstein List, rumors, salacious news, implosions, resilience
Archival Music provided by Past Perfect Vintage Music, www.pastperfect.com.
Extra Notes / Call to Action:
New York Adventure Club www.nyadventureclub.com
The fee is $12 each, live with one week access after.
Monday, January 22nd, 5:30pm EST / 2:30pm PST – Waldorf Astoria Hotel Part 1: A New Standard of Luxury (pre-1929), Come learn more about the Astor family dispute behind the famous hotel and its construction as well as the hotel’s influence on luxury travel and fine dining. Connections to the Titanic as well as other events and famous people will also be explored. But all good things come to an end.
Monday, January 29th, 5:30pm EST / 2:30pm PST – Waldorf Astoria Hotel New York Part 2: Manhattan’s Grandest Hotel (1931-present), The second version of this fine luxury hotel comes during the dawn of new era which will bring new challenges and excitement. A lingering Astor family connection adds to the saga until a new family the Hilton dynasty rises and takes over. More celebrities and events will add to allure of this hotel. Finally, updates reveal the recent renovations, an auction, and the future for the third incarnation.
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Publish Date: January 10th, 2024
Length: 22:38
Opening Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands
Section 1 Music: Kansas City Kitty by The Rhythmic Eight, Album Fascinating Rhythm – Great Hits of the 20s
Section 2 Music: The Charleston by The Savoy Orpheans, Album Fascinating Rhythm – Great Hits of the 20s
Section 3 Music: Hep! Hep! Jumpin’ Jive by Nat Gonella & His New Georgians, Album Dance Crazy
End Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands
AS THE MONEY BURNS
Podcast by Nicki Woodard
Episode 102 – Not Out
Outline
New Year
Buffet
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.
00:29
Story Recap
Barbara Hutton thwarts Prince Alexis Mdivani’s amorous advances, while her Aunt Marjorie Merriweather Post Hutton receives accolades for her charity work.
Now back to AS THE MONEY BURNS
Title
00:46
Not Out
[Music Fade Out]
Episode Tag
After previously closing their mansion, a struggling couple returns to host a wonderful buffet to start the new year, but have things really changed for the better?
01:04
[Music – Kansas City Kitty by The Rhythmic Eight, Album Fascinating Rhythm – Great Hits of the 20s]
Section 1 – Story
[Music Fade Out]
01:22
Who says the wealthy can never be economical when needed?
The holiday season has had plenty of smaller celebrations. No one should let something like the Great Depression truly spoil all the fun, but it might be wise as things are still dark to downplay the ostentation.
Case in point, the very wealthy Stotesburys have returned to Philadelphia after being abroad since the summer. Back in June, they closed their elaborate Whitemarsh Hall in fear of an uprising. However they continued to support and host several of their charity and social endeavors.
01:53
Even from France, Eva Stotesbury managed to supervise her committee work for the 12th Annual Horse Show at Wissahickon Farms. E.T. Stotesbury was insistent that they return before the presidential election as the elderly financier is dead set against Democratic presidential nominee Franklin Roosevelt, who is supported by none other than Eva’s youngest son James HR Cromwell, aka “Jimmy.”
To say that E.T. is a bit mad at the presidential regime change will be an understatement.
02:22
Nevertheless, the holidays are back and so are the celebrations. Upon their return, E.T. and Eva do not reside at their residence Whitemarsh Hall but at the Barclay Hotel. A trend among several wealthy reducing their overhead expenses, like Post Cereal fortune heiress Marjorie Merriweather Post Hutton.
The Stotesburys and Jimmy might be erring a little too confident that Jimmy has snagged the big prize – tall no longer awkward richest girl in the world Doris Duke.
02:52
Only Doris might not be locked down so assuredly. Once again, the press announces her elite standing this time indirectly as noted among a dozen unmarried women controlling fortunes with residences in Newport, Rhode Island. Only 1 maiden among 11 widows named. The others include Gertrude Vanderbilt Payne Whitney, her mother Dowager Alice Vanderbilt, Princess Anita Stewart de Braganza, Nanaline Duke, and the maiden is not Doris but the never married Miss Julia Berwind. Nanaline is incorrectly attributed more wealth but it is her daughter who primarily inherited the large Duke fortune. Doris has yet to turn 21 and thus gain control of her estate. That will change later in 1933. Other wealthy women named include socialite queen Daisy Van Alen and smothering mother Henrietta Hartford.
03:42
Such press just adds a larger target on Doris’s back for those seeking a fortune. She lingers behind in Europe and is spotted in Paris wearing a Bordeaux red wool afternoon gown. Days later after Christmas she is seen in Rome but without her royal admirer the Venetian Italian Prince Colonna, who was another constant companion to her in Lido this last summer. More alarming are the whispers she is already engaged to Sailing Baruch, Jr.
04:10
Oh well, Doris is not the only heiress single for the moment. Spotted in a black velvet Coco Chanel gown with multi-colored ostrich feather fronds for embroidery and a multicolored ostrich feather boa, the budding fashionista Barbara Hutton looks a little slimmer having shed a few pounds, but one must wonder has she shed her most ardent pursuer the newly divorced Russian Prince Alexis Mdivani. In the press, Barbara is labeled the richest U.S. heiress, which seems ironic compared to Doris’s label richest girl in the world. Though Barbara might be harder to catch as she proclaims she is quite restless and moves about at least every 2 months, never able to settle too long in any one place. Now in Manhattan, she attends the Happy “Not Out” Party for the young Robert Mann with several other brightly colored formally dressed females. The Not Out trend of parties, teas, and dances are pre-debutante in a private setting where participants wear non-white colors and formal wear. After Barbara refuses to see Alexis during his brief New York trip, he returns back to France, and Barbara soon will head abroad herself once again in the opposite direction.
05:22
Though the Prince has shed his socialite It Girl heiress wife Louise Van Alen, whose mother is Daisy Van Alen. Louise remains firmly under the Mdivani spell and has yet to not shed his family. She is spotted attending the Lotte Lehmand concert in Paris with none other than his stylish and mesmerizing sister Princess Roussadana “Roussie” Mdivani Sert, dressed in a satin white evening gown with a wide deep silver fox Lanvin scarf that drapes low on her shoulders down to her wrists.
06:53
Saturday, December 24th, 1932, Philadelphia
For the 19th year in a row, the Stotesburys host a charming Christmas party for the Starr Garden Recreation Center. They give an armful of gifts for every child – with over 600 children attending. The center’s lobby transforms into a stage with a landscape filled with lakes, bridges, and a miniature mountain with a three car electric train moving along its tracks. 20 of the most talented children perform in a Christmas playlet with singing and dancing. Three year olds twirl in minuets. Others in shorts and top hats do steps as fancy as professional dancers, while two other little costumed girls sing a saucy tune from the 1880s. In the finale, the swift and limber 8 yr old Tipowitz twin girls twist and turn from flip flops to splits to headstands then leave with a series of cartwheels. Thunderous applause led by E.T. and Eva drowns out the piano. As the children take their bows and gather around the Christmas fireplace.
Amidst the merriment, police are on hand to make sure there are no extra problems, but they too enjoy watching the train with the children.
06:59
Over the holidays, Jimmy’s 10 year old daughter Christine Cromwell will have one of her few annual visits with her father and grandparents. She spends most of the time with her maternal side – the Dodges. However as her grandmothers get along quite well and have homes near each other in Palm Beach, so there is definitely some intermingling. Another stork will soon bring a great grandchild from Eva’s debutante granddaughter Louise Brooks Howard, whose successful debut ended with her marriage in winter 1932.
07:31
Sunday, December 31st, 1932
Days later on New Year’s Eve, the Stotesburys host a buffet supper at the Barclay Hotel. One guest is widow Mrs. Wilmer Biddle, formerly Elizabeth Southall Clarke.
Alas Doris and her mother Nanaline Duke will spend a fortnight in St. Moritz at the start of the new year.
On Tuesday, January 3rd, 1933, the Stotesburys will head down to their Palm Beach estate El Mirasol for another social winter. Eva’s son Jimmy will soon take his residence there at his on-site cottage Malmaison for another social season.
Louise’s cousin the proud scion John Jacob Astor VI, aka Jakey, has returned from his around the world tour to attend Harvard and being one of the most eligible and desirable bachelors is now invited to many of the debutante balls and parties. Among the debutantes this season, famed aviator Charles Lindbergh’s sister-in-law Constance Morrow makes the rounds and attends several functions in the New York area including the Hotel Plaza’s New Year’s Ball.
08:32
On Thursday, January 5th, 1933, Jakey also participates on the floor committee of the Manhattan Derby at the Waldorf-Astoria hotel as a benefit to the New York City Cancer Institute. As part of the amusement, in full polo regalia of the leading two stable teams, debutante jockeys will ride in a burlesque polo match on hobby horses in the grand ballroom. Among the jockeys, Barbara Hutton’s cousin Helena McCann is photographed for the press. The event eventually ends with a hunt breakfast. Hmmm, wondering if the supreme now in-house hostess and coloratura soprano Cobina Wright might aid in the festivities.
09:10
Down in Palm Beach, E.T. is less than pleased with the new president elect Franklin Roosevelt and even more with his stepson Jimmy’s open support. Jimmy might want to steer a little clear for the moment and work on his seduction of Doris. In future, E.T. might want to consult with Doris, who recently wins a spat against the IRS on trying to tax her inheritance as announced by the press on January 10th, 1933. E.T. could use some advice in that department, being Philadelphia’s highest taxpayer for a couple of years, and E.T. is well in fear that the new president intends on raising taxes further. Jimmy is also busying himself with the soon to be launch of his upcoming book The Voice of *Young America, a thin book extolling somewhat impractical advice on controlling utilities, birth control, abolition of the gold standard, and promoting people eating hot dogs while he still dines on caviar.
10:04
The Stotesbury funds are not as plush as they once were, and now without people knowing E.T. starts dipping into the principle of his Drexel accounts to keep up appearances. Withdrawing roughly $900k a month (that’s a little over $21 million in 2024). At least, until the richest girl is finally snatched, or the markets reverse.
It seems the truly not outs have so much more to gain by hiding their actual financial matters.
10:36
[Music – The Charleston by The Savoy Orpheans, Album Fascinating Rhythm – Great Hits of the 20s]
Section 2 – History & Historiography
[Music Fade Out]
10:51
Isn’t it amazing what becomes publicly discussed and somewhat seemingly open knowledge? Always a game of announcing and denouncing people for various reasons.
An article first published on October 17th, 1932, in Canada is then syndicated across 75 newspapers including one republished just before Christmas on December 23rd, 1932. The article mentions 12 fortunes controlled by unmarried women with estates in Newport, Rhode Island. It not only names names but their Newport estates and also estimates their riches. It should be noted the list is for unmarried mostly widowed women and not currently married. As featured in previous episodes, Marjorie Merriweather Post Hutton would certainly have more than most of the listed fortunes combined and continues to earn even more, but Marjorie is currently married to E.F. Hutton. On the more benign side, the potentially outdated information may have been the amount inherited but not sustained. The estimates also get quite ridiculous as there is no bearing on the truth to the alleged amounts. However whether correct or incorrect, announcing of any such amounts can become quite dangerous for the subjects.
12:10
Artist Gertrude Vanderbilt Whitney is noted that her money comes from her husband’s family fortune built from horse racing stables while she focuses on the arts and sculpting. The article misappropriates the former Vanderbilt as Gladys, the actual youngest sister now referred as Countess Szechenyi. Their mother dowager Alice Vanderbilt also listed as is the sale of her Fifth Avenue home for $7.1 million (the rough equivalent of $167 million in early 2024). One of several cost cutting measures as the elaborate Vanderbilt spending and descendants doesn’t leave plenty to go around.
Anita Stewart now the Princess de Braganza inherited $1 million from her father with another $10 million from her stepfather with a combined fortune of $11 million ($259.8 million in 2024). Another Mrs. Moses Taylor received upon the death of her husband $100 million ($2.36 billion for 2024.)
13:11
Of course, there is glaringly obvious mistake – it attributes a large amount of the Duke estate estimated at $90 million ($2.1 billion for early 2024) to the widow Nanaline Duke when in fact it is daughter Doris Duke who has inherited the vast majority of the fortune with her mother acting as her guardian.
Henrietta Hartford is also listed, but like Nanaline Henrietta is controlling her son Huntington Hartford’s fortune more than one of her own. Also mentioned is Daisy Van Alen, who has yet to inherit a much larger sum from her Uncle Frederick Vanderbilt, widow of her maternal Aunt Louise who hadpassed away years earlier.
13:49
Mrs. Nicholas Brown makes the list, but it is her 9 week old son John Nicholas Brown II who became the “wealthiest / richest baby” when his father and his uncle die within two weeks of each other in the year that he was born 1900. The baby himself becomes a target for kidnappers, so his mother surrounds their Newport estate as well as his outdoor playpen in barbwire. In 1912, the estimate of the fortune was $10 million with a potential to grow into $50 million (anywhere from $326.5 million to $1.63 billion in 2024). Now at the time within our story, the wealthiest baby would be his son and her grandson born July 1932 with a fortune estimated between $30-100 million (that would only mean somewhere between $789 million to $2.36 billion today). Yes, as if that isn’t going to cause any security issues.
Remember the Lindbergh baby kidnapping and murder happened in March 1932. Another January 1932 article features the richest pony which also belongs to John Nicholas Brown II as a child and still lives at his Newport estate. By the way, John hates the moniker “richest baby” which is still being used in reference to him, including a June 1932 headline and article detailing he and his wife surviving a potential yachting incident as well in relation to his own son’s birth.
15:17
Meanwhile other press reports if the Great Depression lingers, even those on Park Avenue might find themselves looking for work. Already several society women have begun trying to find alternative sources of income beyond plush family funds. Well known Broadway and tango dancer turned horseman Albert Davis does well and has his own horse show in Long Island including among notable attendees none other than Daisy’s son and Louise’s brother James “Henry” Van Alen and his wife Eleanor. As for now, the previously never had a job, Mrs. Albert – Marianne Davis sings on Broadway and performs at Montparnasse for at least 4 weeks. The Davises will eventually return to their farm in South Carolina in preparation for another horse season.
16:01
And on the flipside of announcing all these wealthy “feminine millionaires” as called back then and others who might be forced into work. The press also releases a list of men who should be retiring, and on that list is none other than financier E.T. Stotesbury at 83 as someone who is overdue. He is in somewhat good company. Others listed include Henry Ford at 69, Harvey Firestone at 64, Simon Guggenheim at 65, Otto Kahn at 66, Charles Schwab at 71, former ambassador Charles Dawes at 67, among others like the heads of U.S. Steel, Pennsylvania Railroad, and Chase National Bank.
Who says it is always fun to be under constant public scrutiny? Can’t some things stay a secret?
16:52
[Music – Hep! Hep! Jumpin’ Jive by Nat Gonella & His New Georgians, Album Dance Crazy]
Section 3 – Contemporary & Personal Relevance
[Music Fade Out]
17:12
Ahhhh, another new year has begun – 2024. While I am not a betting person per se, I would hedge that this is going to be one bumpy and chaotic year. So many things happening, so many changes drastically needing to happen that haven’t, and the ones that are happening feel like they are going in the wrong direction.
They say the only constant in life is change. But can’t it be for good things already?
And sometimes even for good things, it’s preferable to be not out openly. On Monday January 1st, 2024, one person in Michigan won the $842 million Powerball, which a one-time cash payout equals about $425 million. Despite endlessly telling these tales, it’s still hard not to wish for our own individual plush windfalls. Well, that winner’s name may not become available for some time if ever. Michigan lottery rules protect winners of $10k or more with anonymity.
18:10
However there is another set of names everyone is very interested in learning – those exposed by the Jeffrey Epstein list. There are of course the known associates – a former president, a billionaire businessman who often makes the top of the richest list, a disgraced prince, a few celebs, and more from 170 to almost 200 others – some victims, associates, and alleged perpetrators. If you think scandal, rumor, and salacious news are trivial matters, in some ways you are right, but in others it can have much dire consequences. And imagine how some of those named among history makers, businessman, and others will fair after their names are tarred by association. Some will recover or go unscathed, while others not so much. Their lives will implode maybe not criminally nor financially but socially. Only time will tell.
19:07
The Great Depression threw many lives into turmoil. Of course, many fall completely to the bottom and struggle for basic survival. But even for those who don’t, they have to make sure they handled their matters carefully in order to survive the precarious times so they too don’t have more and bigger losses. It’s hard to be too cocky when everything is imploding around you.
Our story now crosses into 1933, and the first 6 months will be extremely dark and volatile. The newly elected President Franklin Roosevelt upon taking over the oval office immediately passes lots of New Deal reforms helping improve some conditions.
But for our heirs and heiresses, matters in their personal lives will also be tumultuous. We have several more twists within our story, and our heirs and heiresses will not always bounce back so effectively. Sometimes even seemingly positive changes can have a much darker side in the game of love and fortune.
20:04
Still battling tech issues galore. Yep, they seem to be getting worse, but I vow to conquer. It’s getting on my nerves that they keep escalating. But such is life, and it’s overcoming the obstacles and not letting them permanently stop you is what matters in the end. Life is way too long and would be far too limiting if we always gave up at the sign of struggle. Resilience is only proven in the process.
May whatever 2024 brings to you be something you can conquer, survive, and ultimately thrive.
**Please note I will post some Manhattan Derby photos to the As The Money Burns social media accounts. Hope to see you there.
20:48
Guess what? My webinars on the first two Waldorf-Astoria hotels are back. Yes, available in January 2024 via New York Adventure Club, I will give two virtual lectures covering the legendary hotels with many links back to our story. From Caroline Astor and her son John Jacob Astor IV to our legendary supreme hostess Cobina Wright to Lindbergh’s historic flight celebrations, along with presidents, royalty, celebrities, underworld figures, and plenty of anecdotes. If you haven’t caught them yet, come check out – Part 1 on Monday, January 22nd, 2024 and Part 2 on Monday, January 29th, 2024 at 5:30pm EST / 2:30pm PST. Weblinks are available at www.nyadventureclub.com and the News | Events section at asthemoneyburns.com. The fee is $12 each, live with one week access after.
Monday, January 22nd, 5:30pm EST / 2:30pm PST – Waldorf Astoria Hotel Part 1: A New Standard of Luxury (pre-1929), Come learn more about the Astor family dispute behind the famous hotel and its construction as well as the hotel’s influence on luxury travel and fine dining. Connections to the Titanic as well as other events and famous people will also be explored. But all good things come to an end.
Monday, January 29th, 5:30pm EST / 2:30pm PST – Waldorf Astoria Hotel New York Part 2: Manhattan’s Grandest Hotel (1931-present), The second version of this fine luxury hotel comes during the dawn of new era which will bring new challenges and excitement. A lingering Astor family connection adds to the saga until a new family the Hilton dynasty rises and takes over. More celebrities and events will add to allure of this hotel. Finally, updates reveal the recent renovations, an auction, and the future for the third incarnation.
If you enjoy As The Money Burns, then please share, like, & subscribe.
Hook
21:49
[Music – My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands]
Next when we return to AS THE MONEY BURNS…
When an heiress flees to the Far East, her ardent lover follows in hot pursuit unwilling to let her get away so easily.
Until then…
Credits
22:09
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, X (formerly Twitter), Facebook now Meta, or Instagram. Transcripts, timeline, episode guide, and character bios are available at asthemoneyburns.com.
22:38
THE END.