The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1888-03-31
ROBERT BONNER'S BOYS
How He Has Made Them Energetic, Smart
and Independents


: Men-Mr. Bonner's Advice to Wealthy
Fathers-The hillionaire's Little Story o!
His Early Life and Work
Robert Bonner transferring a mag.
n.iicent p ece of property on Fifth
avenue estimated to be worth some.
where between million and q million
and half of dollars 10 his three sons
was certainly rather unique proceed
ing on the part of n millionaire. So
far as the observation of New YorKers
has extended, millionaires are not and
have not been & ven 10 this sort of
thing TO any alarming extent. They
have usually held OH TO their property
until they could have no further use
for it themselves, and Mr. Bonner's
gift 10 his sons was not ut all in the
way OF provision for them. Outside of
the fact that he made over 10 them
some time ago the very valuable
Ledger property. with the entire busi-
ness OF the paper, two of the boys,
who are MARI cd, live in handsome
houses of the own not very far from
the fathers residence in Fiftv-sixth
street, near Fifth avenue. and all three
OF them were long ago presented with
generous slices of the parental fortune
in the shape of Government bonds.
The effect of Mr.. Bonner's action.
which he thoroughly appreciates and
las counted, on is to place his sons
squarely alongside of himself before
the world-in short 10 put them in a
position which the sons of millionaires
10 not usually reach until after the
father has passed away.
The property is very notable piece
Of real estate because it is the only con-
siderable lot of vacant ground on Fifth
avenue below Fifty-n nth street. 1t
comprises the entire block between
FiGty-s.xth and F fty-seventh streets,
on the east side of the avenue, and ex-
tends for a hundred feet or more down
each of those intersecting streets.
Mr.. Bonner purchased the property
somewhere in the sixt es for 1922, 600.
and with taxes and insurance it has
cost him. up to the present time. about
$750,000. He cherished for many
ears plan with respect to the prop
erty whereby it would be devoted to
some public use. The nature of til
plan he does not now care to divulge,
but within the past year or so he has,
for various reasons, abandoned it.
During the time that he has held it he
has received innumerable offers for the
property, the largest of which was $1,-
ops. 900. His old friend. Robert L.
Stewart, the millionaire sugar mer-
chant was very anxious to buy 100
feet on the avenue at one time, propos-
ing to build thereon large and hand
some private residence. Mr. Bonner
did not care to sell. He told Mr..
Stewart that he had had the previous
year an offer for that much of the
property of $500. 900. and he had asked
a very dear friend's advice in the mat
ter and had been strongly advised
against selling it. His friend had told
him If he held on for few years lon
ger he could get almost any price that
he wanted. That friend, Mr. Bonner
explained to Mr.. Stewart was R. L.
Stewart himself, and he still consid-
cred the advice very good advice.
After that Mr.. Stewart did not press
the matter. but built the costly and
superbly appointed home in Fifth
avenue and Sixty-eighth street, where
his widow now resides.
Mr.. Bonner talked very frankly and
interestingly last evening to a repre-
sentative OF The World in regard to
his ideas of the disposition he believed
that mill;onaires should make of their
property so far as their immediate
heirs were concerned.
Yes" he said. II have thought
over this question good deal and have
got pretty well-settled ideas about it.
/ remember that it used 10 form a fire.
quent subject of conversation between
Mr.. Stewart and myself. aud he used
to say over and over again that he be-
licved in placing his money during his |
lifetime so that he could see exactly
what he was doing. 1t was tentative
process. 10 a great extent, and if he
made any mistakes. why, he could rec.
lify them. OF course you know Mr.
Stewart had no relatives at all. and his
gifts were altogether to chart es and
for public purposes. He gave away.
so far as / know. about 800. 900 year.
l agreed thoroughly, however, with
Mr.. Stewards views in this matter and
never could SEQ what the use was of
men holding on to their property ua-
ill they had gotten on to the very brink
of the grave. Why. l remember when
Vanderbilt was dying that
he kept a package of papers under
his pillow all the time. and told his
nurse. the one who was with him so long
a time. to give the package to "Bilr'
after his death. but not under any cir
until that event had oc-
Cured. This always seemed to me to
DO stupid and wrong-headcd pro-
ceed,ng. do not see why the young
men of rich fathers should not be al
lowed to feel their manhood and feel
their responsibilities while they are yet
Young AS the boys say, let them feel
their oats.
The effect of clothing a man with
independence and making him directly
responsible in the world cannot be
overeslimated. / know that William
H. Vanderbilt became different man
entirely after he assumed undivided
control of the Vanderbilt properties
from what he had been while he was
still under the domination of the Com
modore and to great extent depend
cnt on him. do not mean, of course,
10 say that he assumed any dictatorial
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