Albert Grant (company promoter)

Albert Grant (18 November 1831–30 August 1899) (born Abraham Gottheimer); Baron Grant in the nobility of Italy, was an Irish born British company promoter.

Born in Dublin, Abraham was the son of Bernard Gottheimer, a poor Jewish pedlar from Central Europe. The family subsequently moved to London where his father became a partner in a business importing fancy goods. Abraham Gottheimer was educated in London and Paris, and assumed the name "Albert Grant" prior to his marriage to Emily Isabella Robinson in 1856. He entered employment as a clerk, later becoming a travelling salesman of wines.

In 1859 Grant established the first of a number of companies which were to fail at the expense of the shareholders. This was the Mercantile Discount Company which failed in 1861. In 1864 he established Crédit Foncier and Mobilier of England which was used as the vehicle to launch a number of ventures. Grant actively courted investors by using directories and targeting financially naive groups such as members of the clergy and widows. He established a number of companies between 1864 and 1872 each of which collapsed in controversial circumstances with allegations of fraud made against Grant.

In 1872 he financed construction of the North Wales Narrow Gauge Railways (Moel Tryfan Undertaking), the narrow gauge railway from Dinas, near Caernarfon, to Brygwyn and Rhyd Ddu. He put the railway company into receivership over a loan of £7,000 made towards preliminary expenses and secured on the General Undertaking in 1877 but in 1878 the company won its second appeal, with a ruling that the Moel Tryfan Undertaking was not liable for the debt and Grant lost the £7,000. He earned a 10% commission, £8,800, for placing the Moel Tryfan Undertaking's capital and debentures.

In 1865 Grant was chosen as Conservative candidate for the parliamentary constituency of Kidderminster, in opposition to the sitting Liberal Member of Parliament (MP), Colonel Luke White. The election generated great interest as a letter had been sent to all members of the electorate denouncing Grant as "a fraudulent adventurer". Grant and White were nominated at Kidderminster Town Hall on 11 July in front of a huge crowd. Grant was proposed and seconded by two local carpet manufacturers, who dismissed the charges against him at length and read out a number of character references defending his reputation. Grant unseated White to become Kidderminster's MP when the poll was held two days later. Three years later another general election was held, but Grant did not stand. The seat was regained by the Liberals, with Thomas Lea becoming member of parliament.

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