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Ballin (ALBERT German shipmaster)

ALBERT, German shipmaster and financier. He was born in Hamburg, in 1857. He spent several years in England, studying the shipping conditions there, and returned to Germany, where in 1886, when only 29 years old, he became director-general of the Hamburg-America line, the great steamship line, whose operations spread all over the globe. His remarkable administrative and executive abilities were reflected in the growth of the organization, which at the outbreak of the World War had a capital of $37,500,000, gross yearly profits of $15,000,000, and 180 ships on its sailing lists. He was reputed to be a close friend and confidential adviser of the Kaiser, and it was stated that he exerted all his efforts dur- BALLINGER ing the conflict to prevent any action on the part of Germany that would bring ALBERT BALLIN the United States into the war. He died suddenly Nov. 10, 1918.