Juan March Ordinas
Encyclopedia
Juan Alberto March Ordinas (1880–1962), also known as Joan March i Ordinas, was a Spanish
businessman closely associated with the Nationalist side in the Spanish Civil War
, and with the regime of Francisco Franco
after the war. He was married with Leonor Servera (1857-1957), they had two children Juan March Servera (Palma de Mallorca 1906-Madrid 1973) and Bartolome March (Palma de Mallorca 1917- Paris 1998). Juan March was the 6th richest man in the world and the wealthiest in Spain. The family is still nowadays one of the richest in the world.
He was born in Santa Margalida
on the island of Majorca. As a young man, he smuggled
tobacco
from North Africa
into Spain. During World War I
, he supplied goods to both sides, evading the Allied
blockade of the Central Powers
, and the German U-boats
.
His power and influence increased under different Spanish governments during the reign of King
Alfonso XIII
. In 1926 he created the Banca March
.
When the monarchy was replaced by the Second Spanish Republic
in 1930, March lost his influence, and was convicted and imprisoned for his illegal dealings. He escaped from prison, and fled to Gibraltar
where his influence with the British
government protected him against extradition
.
March was an important backer of the 1936 military rebellion against the Republic. He arranged Franco's flight from the Canary Islands
to Spanish Morocco
, to bring the colonial troops there into the coup, and personally financed the Italian
airlift of those troops to Southern Spain.
With the Nationalist victory in 1939, March regained all his former influence and more, and was greatly favored by the
Franco regime
. During World War II
, the Allies
employed him to keep from Spain from joining the Axis
. According to recently declassified documents, in 1941, the British government gave him US$
10,000,000 with which to influence the top Spanish generals.
In 1944, March became a supporter of the claim of Don Juan de Borbón
, who had turned pro-Allied, to the Spanish throne. He also owned newspapers and funded political parties.
After World War II
, he was the seventh richest man in the world. In 1955, he established the Fundación Juan March (Juan March Foundation), to support the arts and music.
March was widely known for involvement in lucrative illegal activities, for bribery and political influence, and for bending the law whenever he saw a benefit. This was exemplified in his 1948 takeover of the Barcelona Traction, Light, and Power Company
(BTLP) for a small fraction of its real worth.
BTLP was a utility company which provided power and streetcar services in Barcelona
; originally incorporated in Canada
, it was mostly owned by Belgian
investors. BTLP had come through the Spanish Civil War largely undamaged, and was quite profitable. Its assets were about £
10,000,000 (about $500,000,000 in 2010). However, for the convenience of some of its foreign investors, BTLP had issued some bonds denominated in pounds, and the interest on these bonds was payable in pounds. The Spanish government had imposed currency restrictions: BTLP was unable to exchange its Spanish pesetas
for pounds, and so could not pay the interest.
This was not viewed with any great alarm by the bond-holders; BTLP had plenty of pesetas and would pay the interest arrears whenever the currency restrictions were relaxed.
However, March scented an opportunity. Agents secretly acting for him quietly bought up the bonds (about £500,000). Then in February 1948, they appeared in a Spanish court, asserted that BTLP was in default on the bonds, and demanded immediate relief. The judge agreed, and awarded ownership of all BTLP's assets to them (in fact to March). BTLP's foreign investors appealed, but got no relief from Spanish courts. The Belgian government appealed to the International Court of Justice
, but to no avail - the final resolution coming in 1970, eight years after March's death.
There is an example of March's world-wide notoriety in John D. MacDonald
's 1962 novel, The Girl, the Gold Watch & Everything
. At one point, one of the chief villains of the story complains of the difficulties of operating in the United States
, where the police are honest and the press interferes. He remarks
The March family are still nowadays the richest family in Spain (after Amancio Ortega from Zara). They live between Madrid, Mallorca and Gstaad.
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
businessman closely associated with the Nationalist side in the Spanish Civil War
Spanish Civil War
The Spanish Civil WarAlso known as The Crusade among Nationalists, the Fourth Carlist War among Carlists, and The Rebellion or Uprising among Republicans. was a major conflict fought in Spain from 17 July 1936 to 1 April 1939...
, and with the regime of Francisco Franco
Francisco Franco
Francisco Franco y Bahamonde was a Spanish general, dictator and head of state of Spain from October 1936 , and de facto regent of the nominally restored Kingdom of Spain from 1947 until his death in November, 1975...
after the war. He was married with Leonor Servera (1857-1957), they had two children Juan March Servera (Palma de Mallorca 1906-Madrid 1973) and Bartolome March (Palma de Mallorca 1917- Paris 1998). Juan March was the 6th richest man in the world and the wealthiest in Spain. The family is still nowadays one of the richest in the world.
He was born in Santa Margalida
Santa Margalida
Santa Margalida is a municipality with a population of 10,204 located in the northeast of the Spanish Balearic Island Majorca....
on the island of Majorca. As a young man, he smuggled
Smuggling
Smuggling is the clandestine transportation of goods or persons, such as out of a building, into a prison, or across an international border, in violation of applicable laws or other regulations.There are various motivations to smuggle...
tobacco
Tobacco
Tobacco is an agricultural product processed from the leaves of plants in the genus Nicotiana. It can be consumed, used as a pesticide and, in the form of nicotine tartrate, used in some medicines...
from North Africa
North Africa
North Africa or Northern Africa is the northernmost region of the African continent, linked by the Sahara to Sub-Saharan Africa. Geopolitically, the United Nations definition of Northern Africa includes eight countries or territories; Algeria, Egypt, Libya, Morocco, South Sudan, Sudan, Tunisia, and...
into Spain. During World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, he supplied goods to both sides, evading the Allied
Allies of World War I
The Entente Powers were the countries at war with the Central Powers during World War I. The members of the Triple Entente were the United Kingdom, France, and the Russian Empire; Italy entered the war on their side in 1915...
blockade of the Central Powers
Central Powers
The Central Powers were one of the two warring factions in World War I , composed of the German Empire, the Austro-Hungarian Empire, the Ottoman Empire, and the Kingdom of Bulgaria...
, and the German U-boats
U-boat Campaign (World War I)
The U-boat Campaign from 1914 to 1918 was the World War I naval campaign fought by German U-boats against the trade routes of the Entente Powers...
.
His power and influence increased under different Spanish governments during the reign of King
Spanish monarchy
The Monarchy of Spain, constitutionally referred to as The Crown and commonly referred to as the Spanish monarchy or Hispanic Monarchy, is a constitutional institution and an historic office of Spain...
Alfonso XIII
Alfonso XIII of Spain
Alfonso XIII was King of Spain from 1886 until 1931. His mother, Maria Christina of Austria, was appointed regent during his minority...
. In 1926 he created the Banca March
Banca March
Banca March is a Spanish bank headquartered in Palma de Mallorca.The bank was founded in Palma de Mallorca by Juan March Ordinas in 1926. In the beginning, its sphere of influence was limited to Majorca but it eventually grew to be the leading independent bank in the Balearic Islands...
.
When the monarchy was replaced by the Second Spanish Republic
Second Spanish Republic
The Second Spanish Republic was the government of Spain between April 14 1931, and its destruction by a military rebellion, led by General Francisco Franco....
in 1930, March lost his influence, and was convicted and imprisoned for his illegal dealings. He escaped from prison, and fled to Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
where his influence with the British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
government protected him against extradition
Extradition
Extradition is the official process whereby one nation or state surrenders a suspected or convicted criminal to another nation or state. Between nation states, extradition is regulated by treaties...
.
March was an important backer of the 1936 military rebellion against the Republic. He arranged Franco's flight from the Canary Islands
Canary Islands
The Canary Islands , also known as the Canaries , is a Spanish archipelago located just off the northwest coast of mainland Africa, 100 km west of the border between Morocco and the Western Sahara. The Canaries are a Spanish autonomous community and an outermost region of the European Union...
to Spanish Morocco
Spanish Morocco
The Spanish protectorate of Morocco was the area of Morocco under colonial rule by the Spanish Empire, established by the Treaty of Fez in 1912 and ending in 1956, when both France and Spain recognized Moroccan independence.-Territorial borders:...
, to bring the colonial troops there into the coup, and personally financed the Italian
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
airlift of those troops to Southern Spain.
With the Nationalist victory in 1939, March regained all his former influence and more, and was greatly favored by the
Franco regime
Spanish State
Francoist Spain refers to a period of Spanish history between 1936 and 1975 when Spain was under the authoritarian dictatorship of Francisco Franco....
. During World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, the Allies
Allies of World War II
The Allies of World War II were the countries that opposed the Axis powers during the Second World War . Former Axis states contributing to the Allied victory are not considered Allied states...
employed him to keep from Spain from joining the Axis
Axis Powers
The Axis powers , also known as the Axis alliance, Axis nations, Axis countries, or just the Axis, was an alignment of great powers during the mid-20th century that fought World War II against the Allies. It began in 1936 with treaties of friendship between Germany and Italy and between Germany and...
. According to recently declassified documents, in 1941, the British government gave him US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
10,000,000 with which to influence the top Spanish generals.
In 1944, March became a supporter of the claim of Don Juan de Borbón
Juan de Borbón, Count of Barcelona
The Infante Juan of Spain, Count of Barcelona , was the third surviving son and designated heir of King Alfonso XIII of Spain and Victoria Eugenie of Battenberg, the monarch replaced by the Second Spanish Republic,...
, who had turned pro-Allied, to the Spanish throne. He also owned newspapers and funded political parties.
After World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, he was the seventh richest man in the world. In 1955, he established the Fundación Juan March (Juan March Foundation), to support the arts and music.
March was widely known for involvement in lucrative illegal activities, for bribery and political influence, and for bending the law whenever he saw a benefit. This was exemplified in his 1948 takeover of the Barcelona Traction, Light, and Power Company
Barcelona Traction
Barcelona Traction was a corporation that controlled light and power utilities in Spain and was incorporated in Toronto, Canada on September 12, 1911 by Frederick Stark Pearson. It was operated in Spain but was owned mostly by Belgians. The company was developed by American engineer Dannie...
(BTLP) for a small fraction of its real worth.
BTLP was a utility company which provided power and streetcar services in Barcelona
Barcelona
Barcelona is the second largest city in Spain after Madrid, and the capital of Catalonia, with a population of 1,621,537 within its administrative limits on a land area of...
; originally incorporated in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, it was mostly owned by Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
investors. BTLP had come through the Spanish Civil War largely undamaged, and was quite profitable. Its assets were about £
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
10,000,000 (about $500,000,000 in 2010). However, for the convenience of some of its foreign investors, BTLP had issued some bonds denominated in pounds, and the interest on these bonds was payable in pounds. The Spanish government had imposed currency restrictions: BTLP was unable to exchange its Spanish pesetas
Spanish peseta
The peseta was the currency of Spain between 1869 and 2002. Along with the French franc, it was also a de facto currency used in Andorra .- Etymology :...
for pounds, and so could not pay the interest.
This was not viewed with any great alarm by the bond-holders; BTLP had plenty of pesetas and would pay the interest arrears whenever the currency restrictions were relaxed.
However, March scented an opportunity. Agents secretly acting for him quietly bought up the bonds (about £500,000). Then in February 1948, they appeared in a Spanish court, asserted that BTLP was in default on the bonds, and demanded immediate relief. The judge agreed, and awarded ownership of all BTLP's assets to them (in fact to March). BTLP's foreign investors appealed, but got no relief from Spanish courts. The Belgian government appealed to the International Court of Justice
International Court of Justice
The International Court of Justice is the primary judicial organ of the United Nations. It is based in the Peace Palace in The Hague, Netherlands...
, but to no avail - the final resolution coming in 1970, eight years after March's death.
There is an example of March's world-wide notoriety in John D. MacDonald
John D. MacDonald
John Dann MacDonald was an American crime and suspense novelist and short story writer.MacDonald was a prolific author of crime and suspense novels, many of them set in his adopted home of Florida...
's 1962 novel, The Girl, the Gold Watch & Everything
The Girl, the Gold Watch & Everything
The Girl, the Gold Watch & Everything is a science fiction novel written by John D. MacDonald, considered "a classic screwball mystery".-Plot synopsis:...
. At one point, one of the chief villains of the story complains of the difficulties of operating in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, where the police are honest and the press interferes. He remarks
- It was always better elsewhere, particularly in Spain, where Juan March would help with the arrangements.
The March family are still nowadays the richest family in Spain (after Amancio Ortega from Zara). They live between Madrid, Mallorca and Gstaad.
External links
- "Iberian Croesus", TIME magazine, 14 April 1961.
- Fundación Juan March