FIVE MILLION POUNDS.

New Zealand Herald, Volume LXVII, Issue 20626, 26 July 1930, Page 2 (Supplement)

FIVE MILLION POUNDS.

LORD DEWAR'S FORTUNE.

CHIEF LEGACY TO NEPHEW.

BIG BEQUESTS TO EMPLOYEES

Estate of the value of £5,000,000, " so far as cun at present be ascertained," has been left by the late Lord Dewar, managing director of the distillery firm, John Dewar and Sons, Limited, who died on April 11. Mr. J. A. Dewnr, Lord Dewar'a nephew, " whom I consider to be a very shrewd and exceptionally capablo business man, and who has been of great value to John Dewar and Sons, Limited, and who went to Canada when quito yonng and successfully carried out all my business transactions there," is the chief beneficiary, lie receives £1,000,000, free of legacy duty; tho estates known ns Tho Homestall, Shovelstrode, Brooldands, and Newchapel; and all Lord Dewar's pictures, household effects, bloodstock and other livestock.

Tho rest of Lord Dowar's property, real and personal, subject to estato duty, and after tho payment of certain bequests, in to be held in trust, as to two-thirds for Mr. John A. Dowar, and as to tho remaining ono third in trust in equal parts for Lord Dowar's nieces.

Although tho estate will not come under tho increased scale of death duties imposed in this year's Budget, the Exchequer will benofit from Lord Dowar's estate to the extent of approximately £2.000,000. Among tho bequests arc:—

Tho annual incorno from £IOO,OOO, left in trust for tho purpose, to Mr. l'eter M. Dowar, the present chairman of tho company, " who has proved himself to bo a most capable and exceptional business man and who has added considerably to tho success of John Dowar and Sons, Limited;" and £SOOO to each of tho, children of testator's brother, tho late Lord Forteviot. as a memento " to show tho affection and great regard I have always felt for tlr,m."

11 io sum of £SOOO each, free of legacy duty, is left to Mr. 'J'. Crcrar, Lord Dowar's secretary, Mr. K. Whitney, export manager, and Mr. I'. W. 11. Foord, Jr.shier of John I)ewar and Sons, Limited; 12000, frco of legacy duty, to Mr, G. Morrison, manager of John Dewar and Sons, Limited, in Liverpool.

Gifts to Hospitals. The sum of £IO.COO has been left to bo divided, at tho discretion of tho executors, among employees of John Dewar and Sons, Limited, who have been with tho firm for 10 years; £SOOO to St. Paul's Hospital, £2OOO each to Charing Cross Hospital and St. George's Hospital, Hyde Park; £IOOO each to old friends, Mr. Alex. Edward, Colonel T. L. Brown, Mr. W. M. Frazer, U.S.A., and Mr. H. P. Whitley-Hughes, " to buy a memento." Tho pictures " Gypsies Gathering Sticks." by Gcorgo Morland, is left to Lady Houston, and varying legacies are received by tho managers and employees of his different estates.

Lord Dewar's brother, the late Lord Fortevint, who died last November, left £4,405,000. Mr. J. A. Dewar, who has inherited £1,000,000 from his uncle, did not show more than a mild interest in his new fortune. " I am old enough," ho said-n----ho is 38—" not to get excited about n million pounds. It is not nearly so thrilling to bo a millionaire as peoplo think. I havo been handling large sums of money for a long time. I am used to it." And since it is work and not wealth, in Mr. Dewar's opinion, that makes lifo worth living, ho is going to carry on business as usual. lie is a director of John Dewar and Sons, Limited. Other Big Fortunes.

Other big British fortunes left in recent years havo been

Earl of Iventrh .. .. .. 12,0ne,000 Sir Joseph Robtnaon .. .. 30,000,000 Sir Gcorgo Wills 10,000,000 Sir David Ytilo 6,500,000 Lord Stnithconii 6,000,000 Sir Robert Houston 11,000,000 Viscount Northcliffe . . . . f>,000.000 Mr. Bcrnhard Baron .. .. 5,000,000

Estates of about £4,000,000 were left by Mr. W. JT. Coates, Viscount Cowdrny, Viscount Bearsted, and Sir William Coats.