He was the official representative of the Khedive of Egypt
and a personal friend of Sultan Abdulaziz. Abraham Pasha spoke
Turkish, Arabic and French. He grew rich quickly and became
a well-known figure in the social life of Beyoglu.
Famous passionate devotion to gambling, he speculated on
the Bourse, and hunting. He rapidly lost his entire fortune
due to his gambling.
Abraham Pasha had a number of properties in Istanbul, including
some which were quite well-known : his mansion called "Cercle
d'Orient" after it became the premises of the Club of
this name- was located on the Grande Rue de Pera. He also
had a yali (Kocatas yalisi), or summer home, at Buyukdere
on the Bosphorus. These two building are still standing.
On 13 October, 1891, Abraham Pasha was in difficult financial
circumstances. He obtained a loan from the Imperial Ottoman
Bank of 58,000 Turkish liras at an interest rate of 8%, to
be repaid on 10 October, 1892. The "Cercle d'Orient",
its shops and surrounding lands on the Rue Yechil were the
collateral for this loan.
Two years later, he was still in debt and a second loan of
30,000 Turkish liras was granted on 13 April, 1893.
Financially ruined and unable to repay his debts, Abraham
Pasha was forced to surrender his investments on the Bourse
and all his properties to the Ottoman Bank in 1898. His personal
properties were sold by the bank in 1919 to a stockbroker
named Manouk Manoukian.
See also in the archives:
CD-PV 007 (Minutes of the Direction Committee, 1898)
(Debt file of Abraham Pasha)
(Copies of letters sent to the Paris Committee)