FORTUNATE MILLIONAIRE.
HUGE ESTATE APPRAISED.'
How rapidly large fortunes were piled up in the United States in the hectic days before the world slump was shown in a New York Court recently- when the executors of Mr. Payne Whitney, financier and sportsman, stated that hiestate increased by £10,000,000 between his death in 1927 and payment to the legatees in 1929.
Final accounting set the total value of the estate at nearly £48,000,000, tlii? being twice as large as the Harknes.fortune, which wa-s the biggest previously appraised.
The transfer of legacies took place four months before the Wall Street bubble burst, wiping out many millionaires, and Mr. Whitney's stock holdings were therefore sold at boom prices. With the depreciation in values that has taken place in the past two years it is not believed that there are many fortunes of this magnitude left. Mr. Finley Peter Punrt% creator ol "Mr. Dooley," was one of the beneficiaries, and it is understood that Inlegacy of £100,000 was a token of grati- | tude for the amusement Mr. .Whitney iebtained from his writings.
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Auckland Star, Volume LXII, Issue 262, 5 November 1931, Page 9
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178FORTUNATE MILLIONAIRE. Auckland Star, Volume LXII, Issue 262, 5 November 1931, Page 9
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