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Paul Deacon (1923-1996)
Financial Journalist made Ottawa his Home: By Joanne
Chianello - Ottawa Citizen staff writer
(Published on March 25, 1996)
 A pioneer
of financial journalism in Canada and a pillar of the
Ottawa community died of pneumonia early Saturday morning at Mount
Sinai in Toronto. Paul Deacon was 73.
The newspaper world will remember an urbane, strong-willed reporter
who became one of the first investing editors at The Financial Post
in 1952, working his way up to editor in 1964 and publisher in 1968,
holding the two posts simultaneously until 1977.
Deacon fought for more open and more frequent corporate disclosure
when many firms barely reported their sales figures.
"He carried on the tradition of exposing the dark side of
business and the stock market," said Neville Nankivell, Ottawa
columnist for The Financial Post and former publisher. "Paul
really crusaded on behalf of the small, individual
shareholders,"
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Adele and Paul Deacon |
Deacon, a self-effacing philanthropist, and his ballet-aficionado
wife Adelle, gave 15 years of time and money to countless
organizations including the Ottawa Ballet, various hospitals and the
Elmwood School, a private girls' school that his youngest daughter,
Jennifer, attended in the 1980s.
Before the Deacons moved back to Toronto last year under pressure
from their children and six grandchildren, they set up a
$500,000-trust fund with their own money, the interest distributed
every year to various local charities. They just established a
similar fund in Toronto.
"He made such a difference while he was here," said
Barbara McInnes, a personal friend and executive director of the
Community Foundation of Ottawa-Carleton, which manages the Deacons'
charitable trust, "I feel quite devastated."
Deacon came to Ottawa in the early 1980s to keep an eye on Maclean
Hunter Ltd.'s business interests on Parliament Hill. He would fly
his own plane to visit family and friends in Toronto, a passion he
picked up in the Royal Canadian Air Force during the Second World
war.
From the moment Paul and Adelle arrived, they considered Ottawa
their home, said James Deacon, one of five children: "He was an
extremely modest man. He would be mortified to know we were making
such a fuss."
But the many who knew him recall Deacon with great fondness.
Deacon saved the Michener Foundation, a fund that awards $20,000
Fellowships to senior journalists, said Clark Davey, president of
the foundation, and former Citizen publisher. Deacon, president of
the foundation, 1983-91, raised money for the journalism fund, a
subject dear to his heart. Davey said he also gave "quite a bit
of money himself."
Of all his causes, ballet was probably most dear to him. He was
president of the National Ballet of Canada, 1975-78.
 Paul
Deacon was named president of the Michener Award Foundation in 1983. In recognition of his dedication and contribution to the
journalism award-giving organization, the Foundation renamed its annual fellowship - The Michener-Deacon Fellowship. On Tuesday,
March 26, 1996 Senator Richard J. Doyle paid tribute to Paul Deacon in the Canadian Senate.
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