INCHCAPE ESTATE.

Auckland Star, Volume LXIII, Issue 238, 7 October 1932, Page 7

INCHCAPE ESTATE.

LEFT OVER £2,000,000. (Received 9.30 a.m.) LONDON) October 6. The Earl of Inchcape, the shipping magnate, left an estate of £2,124,000, on which the estate duty is f1,027,000. Included in the legacies were a year's wages to all his personal servants, one month's salary to every employee of the companies he controlled, and £1000 to each of his partners as a token of their loyalty and devotion. Once a steward on a British-India liner, James Lyle Mackay, from Arbroath, Scotland, ultimately became head of one of the greatest shipping combines in the world. He was at the back of many companies, chief among them being the P. and O. group, which possesses large interests in the Union Steam Ship Co. of New Zealand, the New Zealand Shipping Co., the Orient Steam Navigation Co., and the General Steam Navigation Co. Lord Inchcape, who was the first earl, died in May of this year, and was succeeded by his eon, Viscount Glenapp. His daughter, the Hon. Elsie Mackay, was lost in March, 1928, on an attempted flight across the Atlantic with Captain Hinchcliffe, without the knowledge or approval of her father. He placed £500,000 —the residue of her fortune—at the disposal of the Exchequer, suggesting that it be allowed to accumulate for 50 yenrs to the sum of £6,500,000, for the liquidation of a portion of the National Debt. Lord Inchcape also provided handaom' for the .dependents of Captain. Hinchcli- j, ,