Lives in Cricket No 38 - Lionel Robinson

15 Benefactor of Scotch College In his obituary in The Scotch Collegian , Lionel is described as ‘one of our greatest benefactors’; his most significant contribution being the establishment of the ‘Lionel Robinson’ scholarship in 1918. Arranged by his brother, (Sir) Arthur, who was managing Lionel’s affairs in Australia by this time, this endowment was sufficiently generous to provide a perpetual fund to pay tuition fees for a bright boy to do what Lionel was unable to do, that is to finish his education with a good chance of obtaining the position of dux of the school. One of the most famous recipients of such funds was (Sir) Zelman Cowen who eventually became Governor General of Australia. Lionel was also one of the first contributors to the fund raised to construct the new Scotch College at Hawthorn Glen; his brother, Arthur, was chairman of the Capital Appeal and would certainly have encouraged him to make a significant donation. 13 On a more informal note, Lionel was praised for his generosity in inviting Old Scotch Collegians to stay with him at Old Buckenham Hall when on leave during the Great War. The most obvious sign of the regard with which Lionel is remembered at Scotch College is a large drinking fountain that has been erected in his honour in the school’s main quadrangle. Making a fortune on the Stock Exchanges It quickly became apparent that Lionel had the natural flair of a gambler for the stock market and he was lucky in his timing for the boom in the Australian markets that took place in the 1880s enabled him to make significant amounts of money while still very young. He was only 22 when he was able to buy a seat on the Melbourne stock exchange. Lionel formed what turned out to be a life-long partnership with the South Australian- born William Clark (or ‘Bill’ as he was often referred to in Australian sources) 14 but his career was not one of uninterrupted success; he was actually declared bankrupt in the depression and commercial crisis of 1892-3 and was only readmitted to the stock exchange in June 1893 15 . According to Peter Richardson, the firm of ‘Robinson & Clark soon acquired reputations as fearless and successful share market speculators, especially in the field of mining stocks’ whilst another writer states: ‘One of the most dazzling rises to fortune, made by pure ability and courage, was that of Lionel Robinson and Bill Clark, sharebrokers ... ‘Robby’ was an 13 Arthur Robinson oversaw the purchase of the land for the new school, paying £13,000 British pounds to WL Baillieu, a financier who was already known to Arthur and who would soon become linked to the business careers of all five of the Robinson brothers. 14 William Clark outlived his partner by 26 years but remains a shadowy figure. Between 1921 and 1942 he owned Windlesham Moor, which later found fame as the first family home of Princess Elizabeth and Prince Philip. 15 Michael Robinson informs me that, at this time, many speculators in the fields of finance and real estate ran up huge debts on shares that were only partly paid. Companies that were owed large amounts were often forced to ‘bite the bullet’ and accept whatever they were able to recover, often only a small fraction of the total amount due. Agreements were often made in secret, leaving those who were technically bankrupt more or less free to start again. Many more prudent folk were highly critical of this practice. There is no evidence that Lionel took advantage of such a scheme except for the fact his return to the financial fray was suspiciously rapid. The early life of Lionel Robinson