LATE EDGAR WALLACE

New Zealand Herald, Volume LXXI, Issue 21799, 14 May 1934, Page 9

LATE EDGAR WALLACE

CREDITORS FULLY PAID ROYALTIES STILL POURING IN (Received May 13, 5.5 p.m.) LONDON, May 12 The.creditors of the lute Edgar Wallace, the world's most prolific novelist and playwright, have now been fully paid from liis estate. It is disclosed that Mr. Wallace left debts amounting to £BI,OOO and assets worth £IB,OOO. The author bequeathed four-sevenths of tho copyrights of his works to his widow and children, but it was stated then that tho irregularity of royalties coming in might mean a delay. The widow died in 1933, leaving £6981. This was received into and administered with the novelist's estate. Ten racehorses which were sold realised £.3800. Following a Court of Chancery authorisation, a company has now been formed called Edgar Wallace, Ltd., the shareholders of which are the four children, two of whom are still at school. None of them has received a penny from the estate yet, but it is anticipated that future royalties will provide for them. The Daily Herald says tho royalties on Mr. Wallace's plays and novels during the two years since his death have amounted to £65,000 and money is still pouring in from all parts of the world.