Herbert Samuel Holt
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Sir Herbert Samuel Holt (February 12, 1856 – September 29, 1941) was an
Irish Irish may refer to: Common meanings * Someone or something of, from, or related to: ** Ireland, an island situated off the north-western coast of continental Europe ***Éire, Irish language name for the isle ** Northern Ireland, a constituent unit ...
-born
Canadian Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...
civil engineer A civil engineer is a person who practices civil engineering – the application of planning, designing, constructing, maintaining, and operating infrastructure while protecting the public and environmental health, as well as improving existing ...
who became a businessman,
banker A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
, and
corporate director A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ...
with a ruthless business reputation. He was President of the
Royal Bank of Canada Royal Bank of Canada (RBC; french: Banque royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 17 million clients and has more than 89,000& ...
,
Montreal Light, Heat & Power The Montreal Light, Heat and Power Company (MLH&P) was a utility company operating the electric and gas distribution monopoly in the area of Montreal, Quebec, Canada, until its nationalization by the government of Quebec in 1944, under a law crea ...
, and a director of some 250 companies worldwide, with assets valued at around $200 million. On his death, the
Montreal Gazette The ''Montreal Gazette'', formerly titled ''The Gazette'', is the only English-language daily newspaper published in Montreal, Quebec, Canada. Three other daily English-language newspapers shuttered at various times during the second half of th ...
described him as "the richest man in
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
", but he was also one of the most reviled. Among his peers in the
Golden Square Mile / ''Mille carré doré'' , native_name_lang = , settlement_type = List of neighbourhoods in Montreal, Neighbourhood , image_skyline = Ravenscrag.jpg , image_alt = , image_caption = ''Rave ...
, "everyone respected his business ability, but nobody liked him personally". Holt was one of the founders of the Town of
Hampstead, Quebec Hampstead is an on-island suburb of Montreal, Quebec, Canada. It is an independent municipality, surrounded by the boroughs of Montreal. History The Town of Hampstead was founded in 1914. It was designed to be an exclusive garden city. There ...


Early life

Holt was born at Ballycrystal, near
Geashill Geashill () is a village in County Offaly, Republic of Ireland, Ireland. It is situated between the towns of Tullamore and Portarlington, County Laois, Portarlington on the R420 road, R420 Regional road (Ireland), regional road. Geashill has a ...
, Co. Offaly. He was the second son of William Robert Grattan Holt, of Carberry House,
Co. Kildare County Kildare ( ga, Contae Chill Dara) is a Counties of Ireland, county in Ireland. It is in the Provinces of Ireland, province of Leinster and is part of the Eastern and Midland Region. It is named after the town of Kildare. Kildare County Cou ...
, inherited in 1742 from his ancestor, Hannah Colley (afterwards Grattan) of Castle Carberry. Holt grew up with his family at another family property, Ballycrystal, a grazing farm of 291
acres The acre is a unit of land area used in the imperial and US customary systems. It is traditionally defined as the area of one chain by one furlong (66 by 660 feet), which is exactly equal to 10 square chains, of a square mile, 4,840 square ya ...
. In reference to Holt's own ruthless business reputation, it is of interest to note that in a dispute between his father and his uncle, it was said that, "the business affairs of William Holt's family would not stand up to close scrutiny". Herbert Holt's elder brother, Thomas Grattan Holt, succeeded to Ballycrystal and Carberry, while Holt studied civil engineering in
Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...
. In 1873, he emigrated to
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
, beginning work as an assistant engineer with the
Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...
Water Works. In the early 1880s, he was employed to survey and construct portions of the
Canadian Pacific Railway The Canadian Pacific Railway (french: Chemin de fer Canadien Pacifique) , also known simply as CPR or Canadian Pacific and formerly as CP Rail (1968–1996), is a Canadian Class I railway incorporated in 1881. The railway is owned by Canadi ...
across the prairies and through the
Rocky Mountains The Rocky Mountains, also known as the Rockies, are a major mountain range and the largest mountain system in North America. The Rocky Mountains stretch in straight-line distance from the northernmost part of western Canada, to New Mexico in ...
, under James Ross.


Career

Herbert Holt became a pioneer developer of the
energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat a ...
business in the
Province of Quebec Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirteen p ...
and owned the Montreal Gas Company. In 1901 he merged Montreal Gas with Rodolphe Forget's Royal Electric Company to create the Montreal Light, Heat & Power Company (the company was later
nationalized Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to pri ...
by the province and became part of
Hydro-Québec Hydro-Québec is a public utility that manages the generation, transmission and distribution of electricity in the Canadian province of Quebec, as well as the export of power to portions of the Northeast United States. It was established by the ...
). Holt served as president of the
Royal Bank of Canada Royal Bank of Canada (RBC; french: Banque royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 17 million clients and has more than 89,000& ...
from 1908 to 1934, and the bank's chairman from 1934 until his death. He was a co-founder of the
Ritz-Carlton Montreal The Ritz-Carlton Montreal is a luxury hotel located at 1228 Sherbrooke Street West, on the corner of Drummond Street, in Montreal, Quebec. Opened in 1912, it was the first Ritz-Carlton hotel in North America. Its name was originally licensed by C ...
, a director of
Montreal Trust Company The Montreal Trust Company was formed in 1889 and 100 years later described itself as "one of Canada's largest trust companies." History Montreal Trust was founded by the Bank of Montreal. Donald Smith and Edward Clouston were amongst its char ...
,
Canada Car and Foundry Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by total ...
and many other Canadian companies. He was appointed chairman of the Federal Plan Commission in 1913. In 1915, he was
knighted A knight is a person granted an honorary title of knighthood by a head of state (including the Pope) or representative for service to the monarch, the Christian denomination, church or the country, especially in a military capacity. Knighthood ...
by
King George V George V (George Frederick Ernest Albert; 3 June 1865 – 20 January 1936) was King of the United Kingdom and the British Dominions, and Emperor of India, from 6 May 1910 until his death in 1936. Born during the reign of his grandmother Que ...
. Herbert Samuel Holt died in 1941 and was interred in the
Mount Royal Cemetery Opened in 1852, Mount Royal Cemetery is a terraced cemetery on the north slope of Mount Royal in the borough of Outremont in Montreal, Quebec, Canada. Temple Emanu-El Cemetery, a Reform Judaism burial ground, is within the Mount Royal grounds. Th ...
in Montreal. His comparatively modest home on Stanley Street in Montreal's
Golden Square Mile / ''Mille carré doré'' , native_name_lang = , settlement_type = List of neighbourhoods in Montreal, Neighbourhood , image_skyline = Ravenscrag.jpg , image_alt = , image_caption = ''Rave ...
was demolished after his death. Following its formation in 1979, Herbert Holt's significant contribution to the Canadian economy was recognized through his election to the
Canadian Business Hall of Fame The Canadian Business Hall of Fame celebrates the outstanding achievements of Canada's most distinguished business leaders, past and present. Over 170 Order of the Business Hall of Fame Companions serve as inspiring examples for all young Canadians ...
.


Reputation

However, Holt was also one of the richest and most reviled Montrealers of his time. When his death was announced at a
baseball Baseball is a bat-and-ball sport played between two teams of nine players each, taking turns batting and fielding. The game occurs over the course of several plays, with each play generally beginning when a player on the fielding tea ...
game in 1941, the crowd cheered. To many
French Canadian French Canadians (referred to as Canadiens mainly before the twentieth century; french: Canadiens français, ; feminine form: , ), or Franco-Canadians (french: Franco-Canadiens), refers to either an ethnic group who trace their ancestry to Fren ...
s, Holt was the epitome of 'les maudits anglais' ('the damned English'). Herbert is remembered for being a harsh banker who enjoyed large profits while the common man suffered during the
great depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
. In his own words, "If I am rich and powerful, while you are suffering the stranglehold of poverty and the humiliation of social assistance; if I was able, at the peak of the Depression, to make 150% profits each year, it is foolishness on your part, and as for me, it is the fruit of a wise administration."


Family

In 1890, Holt married Jessie, the eldest daughter of Andrew Paton (1833-1892) of
Sherbrooke, Quebec Sherbrooke ( ; ) is a city in southern Quebec, Canada. It is at the confluence of the Saint-François and Magog rivers in the heart of the Estrie administrative region. Sherbrooke is also the name of a territory equivalent to a regional count ...
. The Holts kept three houses: One at 297 Stanley Street in Montreal's
Golden Square Mile / ''Mille carré doré'' , native_name_lang = , settlement_type = List of neighbourhoods in Montreal, Neighbourhood , image_skyline = Ravenscrag.jpg , image_alt = , image_caption = ''Rave ...
; another called Ballycrystal House, near
Nassau Nassau may refer to: Places Bahamas *Nassau, Bahamas, capital city of the Bahamas, on the island of New Providence Canada *Nassau District, renamed Home District, regional division in Upper Canada from 1788 to 1792 *Nassau Street (Winnipeg), ...
in the
Bahamas The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the Atlantic Ocean, North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to ...
; and a third called Send Grove, near
Woking Woking ( ) is a town and borough status in the United Kingdom, borough in northwest Surrey, England, around from central London. It appears in Domesday Book as ''Wochinges'' and its name probably derives from that of a Anglo-Saxon settlement o ...
in
England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...
. He also built a summer residence at 42 Summit Crescent in Westmount at the beginning of the 20th century. The Holts were the parents of three sons: *Major
Herbert Paton Holt Major Herbert Paton Holt, MC, (10 December 1890 – 1 June 1971) was a British-Canadian politician and army officer. He served as the Conservative Member of Parliament for Upton from 1924 to 1929. Early life and army service Holt was born in ...
(1890-1971) M.C., M.P., educated at the
Royal Military College of Canada '') , established = 1876 , type = Military academy , chancellor = Anita Anand ('' la, ex officio, label=none'' as Defence Minister) , principal = Harry Kowal , head_label ...
, he inherited Send Grove and Ballycrystal. He fought in both world wars and wrote a history of his regiment, the
3rd Dragoon Guards The 3rd (Prince of Wales's) Dragoon Guards was a cavalry regiment in the British Army, first raised in 1685 as the Earl of Plymouth's Regiment of Horse. It was renamed as the 3rd Regiment of Dragoon Guards in 1751 and the 3rd (Prince of Wales's) ...
. He kept a house in
Mayfair, London Mayfair is an affluent area in the West End of London towards the eastern edge of Hyde Park, in the City of Westminster, between Oxford Street, Regent Street, Piccadilly and Park Lane. It is one of the most expensive districts in the world ...
and in 1927 he purchased Lackham Manor,
Wiltshire Wiltshire (; abbreviated Wilts) is a historic and ceremonial county in South West England with an area of . It is landlocked and borders the counties of Dorset to the southwest, Somerset to the west, Hampshire to the southeast, Gloucestershire ...
, for £78,000. He was
High Sheriff of Wiltshire This is a list of the Sheriffs and (after 1 April 1974) High Sheriffs of Wiltshire. Until the 14th century, the shrievalty was held ''ex officio'' by the castellans of Old Sarum Castle. On 1 April 1974, under the provisions of the Local Gov ...
and
Member of Parliament A member of parliament (MP) is the representative in parliament of the people who live in their electoral district. In many countries with bicameral parliaments, this term refers only to members of the lower house since upper house members of ...
for Upton,
Essex Essex () is a county in the East of England. One of the home counties, it borders Suffolk and Cambridgeshire to the north, the North Sea to the east, Hertfordshire to the west, Kent across the estuary of the River Thames to the south, and G ...
. He married Elizabeth, daughter of George Lighthall Cains of Montreal and his wife Amy, sister of Percy Cowans of Montreal. One of their two daughters, Elizabeth, is the widow of John Vavasseur Fisher, 3rd Baron Fisher. Their only son, Lt. George Herbert Holt, was killed in the
Second World War World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
. *Major Andrew Paton Holt (1893-1964), named for his maternal grandfather, he was educated at the
Royal Military College of Canada '') , established = 1876 , type = Military academy , chancellor = Anita Anand ('' la, ex officio, label=none'' as Defence Minister) , principal = Harry Kowal , head_label ...
. He successfully succeeded his father in many of his business ventures at Montreal. His friend,
Lord Beaverbrook William Maxwell Aitken, 1st Baron Beaverbrook (25 May 1879 – 9 June 1964), generally known as Lord Beaverbrook, was a Canadian-British newspaper publisher and backstage politician who was an influential figure in British media and politics o ...
, unsuccessfully attempted to purchase him a
knighthood A knight is a person granted an honorary title of knighthood by a head of state (including the Pope) or representative for service to the monarch, the church or the country, especially in a military capacity. Knighthood finds origins in the Gr ...
. Major Andrew Holt died from a heart attack in London, England, on 12 September 1964. *Major (William) Robert Grattan Holt (1900-1947), named for his paternal grandfather. He was educated at
Marlborough College Marlborough College is a Public school (United Kingdom), public school (English Independent school (United Kingdom), independent boarding school) for pupils aged 13 to 18 in Marlborough, Wiltshire, England. Founded in 1843 for the sons of Church ...
and the
Royal Military College of Canada '') , established = 1876 , type = Military academy , chancellor = Anita Anand ('' la, ex officio, label=none'' as Defence Minister) , principal = Harry Kowal , head_label ...
. In 1915, he survived the sinking of the
RMS Lusitania RMS ''Lusitania'' (named after the Roman province in Western Europe corresponding to modern Portugal) was a British ocean liner that was launched by the Cunard Line in 1906 and that held the Blue Riband appellation for the fastest Atlanti ...
. He served with the
Royal Canadian Infantry Corps The Royal Canadian Infantry Corps (french: Corps d'infanterie royal canadien) is the infantry corps of the Canadian Army and includes regular and reserve force regiments. Originally formed as the Canadian Infantry Corps on 2 September 1942 to en ...
as a major during
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
. He lived at Redpath Crescent, in Montreal's
Golden Square Mile / ''Mille carré doré'' , native_name_lang = , settlement_type = List of neighbourhoods in Montreal, Neighbourhood , image_skyline = Ravenscrag.jpg , image_alt = , image_caption = ''Rave ...
, which he gave over to the Navy for use as a hospital during the
Second World War World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
. He was the father of one daughter, Jane, known popularly as Pam and afterwards as Pam Dunn (1924-2008). Pam became a famous
philanthropist Philanthropy is a form of altruism that consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private goo ...
in
Montréal Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous city in the Canadian province of Quebec. Founded in 1642 as '' Ville-Marie'', or "City of Mary", it is named after Mount Royal, the triple-p ...
who supported the Royal Victoria Hospital Foundation,
Bishop's University Bishop's University (french: Université Bishop's) is a small English-language Liberal arts college, liberal arts university in Lennoxville, a borough of Sherbrooke, Quebec, Canada. The founder of the institution was the Anglican Diocese of Quebe ...
,
Bishop's College School Bishop's College School or BCS is an English-language non-profit independent boarding prep school in Sherbrooke, Quebec, Canada for students in Grades 7 to 12.Thomson, Ashley; Lafortune, Sylvie (1999). Handbook of Canadian Boarding Schools. To ...
, the Sun Youth Organization, Dans la rue, the
Douglas Hospital The Douglas Mental Health University Institute (french: Institut universitaire en santé mentale Douglas; formerly the Douglas Hospital and originally the Protestant Hospital for the Insane) is a Canadian psychiatric hospital located in the borou ...
, the Montreal Association for the Blind, the Butters Foundation and numerous other charities. Holt, who was the father of three graduates of the
Royal Military College of Canada '') , established = 1876 , type = Military academy , chancellor = Anita Anand ('' la, ex officio, label=none'' as Defence Minister) , principal = Harry Kowal , head_label ...
and donated two hangars to the College in 1920 from the imperial war surplus stores in Canada. The hangars, which were free-freighted from Deseronto to Kingston, were erected as a covered skating rink.Preston Canada's RMC: A history of the Royal Military College of Canada (Kingston, 1969)


References


Further reading


The Creation and Early Development of Gatineau Park

Vieux-Montreal: Sir Herbert S. Holt
With a photograph.

{{DEFAULTSORT:Holt, Herbert Samuel Royal Bank of Canada presidents Canadian Knights Bachelor Businesspeople from Montreal 1856 births 1941 deaths Anglophone Quebec people People from Hampstead, Quebec Burials at Mount Royal Cemetery