Early Life
Sir Henry Mill Pellatt was born on January 6, 1859, in Kingston, Ontario. His father, a banker, had already fallen on hard times and was virtually personally bankrupt. As a youth, Sir Henry was a noted athlete, winning the one-mile championship of America in 1879.
Starting his financial career at 15, Sir Henry laid the foundation of his fortune through shrewd investments in the stock of the Northwest Land Company at a time when few businessmen had any faith in the west. He became known as the only man who would buy Northwest stock at any time, at any price.
Rise to Fortune
Ebullient, charming and manipulative, Pellatt rose from virtual bankruptcy to accumulate a staggering fortune — largely through his nimble, if not always ethical nor legal, activities as a financier and stock trader. When he began construction of his castle in 1911, he was said to be one of the 23 people who owned Canada.
He was instrumental in the economic development of Canada, involved in transportation, real estate, railroad construction and the development of hydroelectric power from Niagara Falls. He was a leader in an age of unfettered capitalism and a prime example of the unpredictability of fate.
The Building of Casa Loma
Casa Loma, the "House on the Hill," arose from the imagination and ambition of Sir Henry Pellatt. Following in the footsteps of plutocrats in America, he built this 98-room structure to advertise his wealth and standing and to provide a fitting site for visiting royalty. He and his architect, E. J. Lennox, drew on the architecture and decor of European castles in designing the structure.
He ran out of interest and money before it could be completed, but he spent almost ten heady years as the unannointed king of Casa Loma. When he was forced to leave, his critics called the castle a folly and Sir Henry a fool.
Military Career
Sir Henry was a passionate and dedicated supporter of the Queen's Own Rifles. When he commanded the regiment he lavished funds on them, practically creating the regiment's band. In 1910 he took the full regiment, more than 600 men, to England for the military games at a cost of close to $90,000 — at a time when a suit cost about five dollars.
Financial Fall and Final Days
His businesses were not doing well, and he was forced to give up many holdings because of his close ties to the Home Bank, which collapsed. In 1923 the Pellatts were forced to move out of the castle. When Sir Henry died, about all he had left was his diamond ring, his title and the silver tray and goblet his father had received — not much more than would fit into a few trunks.
He died in 1939 and was honoured with a full military funeral by the Queen's Own Rifles. Thousands braved the frigid March weather to line King Street West around St. James' Cathedral.