Plays the Game Well
“When the real-estate boom struck Vancouver in 1905,” continues the Courier, “Alvensleben was quick to see the opportunities in land. The old wild gambling spirit of his youthful days was still strong upon him. He was the man for the moment, reckless, willing to take chances, and a born mixer. He cabled relatives in Berlin, who had heard of his early successes, and induced them to invest large sums of money. His first investment yielded enormous and quick profit, and thus established his prestige in Germany, for he promptly repaid the investors with a 1,000 per cent. on their money. In the next three years he made several visits to Germany, brought men of royal blood to the Pacific coast, and was given several audiences with the Kaiser, whose accredited representative he became. In all probability, at a very conservative estimate, Alvensleben caused $20,000,000 of German capital to be invested in British Columbia and Washington State.
“In 1908, after a very romantic courtship, he married Edith Mary Westcott, a popular Vancouver girl, daughter of one of the leading society matrons. Following the marriage the financier purchased the largest private estate in Vancouver’s most select residential district, Point Grey, where he erected a magnificent home. His name, high foreign connections, and expenditure on entertainment that set a hitherto unknown high mark in the very British city of Vancouver, quickly brought him valuable social connections.
“His business ventures broadened with astounding rapidity, but most of his purchases for himself and clients were made on ‘agreements,’ with the expectations of making big margins in the prevalent boom. A good salesman himself, he was also the easiest mark for wildcat schemes who ever came out of Europe, owing to his gambling mania. Soon his companies became loaded up with timberlands, bought at inflated prices, wild lands, doubtful mining leases, Alberta oil shares, and other unproductive assets. Some of his wealthy clients thrust upon him their useless sons, whom he was forced to maintain in his office at high salaries.