TIRED OF RICHES

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8858, 8 July 1907, Page 1

TIRED OF RICHES

Mr Charles M. Schwab, the ex-head of the Steel Trust, is burdened with too much wealth. He is now reported as anxious to sell his magui ficeut houses on Riverside drive, the fashionable part of New York, which cost him nearly £BOO,OOO to build as ho dislikes the effort it costs him to live up to it. Following the example of his former chief Mr Andrew Carnegie, Mr Schwab has been recently giving largo sums of money away. When his sister was married a few weeks ago, lie gave her 2,000,000d015., £400,000, as a wedding gift. His brother, Edward Schwab, is to be married next mouth to a Miss McGarry, and Mr Schwab has offered a similr sum of £400,000 to his brother’s intended. Greatly to his surprise, however, the young lady declines to accept the sum, as she declares that she and her husband intend to lead the simple life, and do not wish to be burdened with wealth. Mr Edward Schwab is a man of very moderate means, though he holds a good position as engineer. Society applauds the couple’s resolution, and the papers are ringing with the “great renunciation” of 3,000,000 dol.