Giving Away a Fortune.
Another convert has been discovered among millionaires to Mr. Andrew Carnegie’s theory that it is better to give away a fortune during one’s lifetime, and witness the benefits thus besowed than to leave it by will. Inquiries into a series of unusually large donations to various charities by Mr. Lispenard Stewart, a New York bachelor possessed of a large fortune, elicited an interesting
concession. The millionaire, who Is , lawyer and ex-Senator, explained that h. was approaching his sixtieth year and as he grew older he found his ’needs v ere greatly simplified, so that h c was m t able to use the whole of his income ■ e had therefore cancelled sections of ...s will benefiting favourite institution and was gradually bestowing on them the wealth he had intended to bequeath in order to see what use they, made of it He had already given .£250/100, an I expected next year, if alive, to find that he needed a still smaller income and to give away more of his capital. An infinnary, the Zoological Society, and several churches are among the in’-tit. tions Mr. Stewart has endowed.
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Bibliographic details
New Zealand Graphic, Volume XLVI, Issue 9, 30 August 1911, Page 58
Word Count
191Giving Away a Fortune. New Zealand Graphic, Volume XLVI, Issue 9, 30 August 1911, Page 58
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