Millionaire Duke

Manawatu Times, Volume 66, Issue 103, 2 May 1941, Page 10

Millionaire Duke

ESTATE SAVED £300,000 LONDON, March 27. By' his economy as a millionaire, the 27-year-old ninth Duke of Northumberland, who, as a lieutenant in tho Grenadier Guards was killed in Franco last year, realised in death his ambition in life to conserve the Percy estates. Further grants of probate show that by what, he called ‘ 1 tightening his belt,’’ ho saved tho estates £300,000. It was announced that probate had been granted for lands valued at £355,600 to make a total of £1,802,089, or £300,000 more than he inherited in 1930. Because he was killed ou active service the death duties aVi 11 be discounted according to his expectation of life. This means that they will total about £230,000 instead of £690,000, with the result that the ‘younger brother who succeeded him has been left more than was left by their father. It was to conserve the estates Jhat tho ninth duke told his tenantry of his decision to close the 200-roomed Alnwick Castle, in Northumberland, for 630 years the home of the Pereys. The duke made his home at Lesbury House, Alnwick, a 20-roomed house on the estate. The castle became the wartime home of Newcastle Church High School for Girls. In his announcement the duke explained that earlier he had to sell property that had been in the family for centuries to pay death duties. He said that the estate had paid death duties twice in 12 years; that when his father died in 1930, £1,000,000 was paid on an estate valued at £2,500,000. In 1918, when his grandfather died, the Exchequer took £IBO,OOO. 4 ‘l must tighten ray belt,’’ he said to his tenantry. “No one is more alive to the value of tradition than I but

when it .comes to a choice between the i tradit ion of living in a castle and th*: tradition of doing ouo’s best to mam tain this estate there can bo no hesitation. ”