Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1888-08-04
LARGE CITY ESTATES.
PROPERTIES TIED UP IN THE HANpe
OF TRUSTEES.

Tendency Of Large Estates In the City Of
Boston-Life and Individuality Of Prop
eriy-wby II Is So Frequently Held
"in Trust"
The early part Of the century, from
1912 down 20 1913, was the era when
many Of the later millionaires were either
young men just beginning at the lower
rounds Of fortunes ladder. or had ascend.
cd tho first most difficult steps Of ths
same, and began TO see tho prospect OF In.
dependence within satisfactory reach
Some were Of Boston origin, but many Of
these men had started out of homes Of
large families on some New England hill
side, or In the small towns where progress
was Just beginning to change the primit-
i've order OF things to more modern methods
and conditions. Study and rugged, In.
ured to hard labor, and early taught
economy In the school of actual expert.
ence with a fair amount of schooling,
such as IL was--and II was good and
thorough Ms far as IL went-and light
heart and scanty wardrobe, these boys
went out In the world 10 seek their fort.
une. Many of them fol1Sl it Ia Boston,
where from the humblcst capacities they
rose to be heads Of mercantile, manu-.
featuring and other enterprises of char.
acter and extent that were simply sur.
prisinp, Tbey became simply actiye
Instruments in the DEVELOPMENT of the
business and resources of the country
when the RAILWAY system began To make
available their wonderful extent and
riches
To this class of adventurous. industri.
Gus and successful men of affairs came
riches and possessions of various kinds.
among them being real estate In the best
business and residential sections of the
growing city. Some, more clear headed
than others, went more largely into the
acquisition Of real estate, Judging that,
with the Inevitable large increase in pop
ulation, land must become very valuable
Events justified their Judgment Some
of these men returned to their early
homes for wives, but the majority Of
them obtained helpmeets from among the
families Of their new homes. Children
were born to them, for in those days IL
had not become questionable to have fam.
lilies, and in cases large ones at that.
These children had to be educated in A
way superior TO that of their parents.
and in the course of this process acquired
new tastes and habits. The sons, espe-
cially. must have college course, with
oil that that often means to the sons of
rich men who have large expectations.
or course IL WINS not alone tho sons of
men who had come 10 Boston To seel, a
fortune that filled tho colleges The
enrly Bostonions were eIso tRrif,v and
monev nol,inr and raised Ioroa faw;l;as
md Icf, extens;vo cst.tes Nav nf tha;r
sons no we'll no those Of tho former In.
herited ennngh of tbe nat.rnal onorerv
opJ nmb;tion to innol tbann 20 90 ;n,S,
their fatbor,s conniina rnans "a IL ha
coma In turn Creot nercbnnts or NAV
ufacturers, an2 II ia 20 tba craa;t 20
snnra nf tbosa fa,niii,s nat o,,a,, ~ -
,ho rrossnt d"y tLair ranrasa,, a,;,'oap " W
~ ha sannd IN .nrsnIruonu '"ra.J9 noai,,o. ~.
.itbar IN ,ra5n on IN IL iaarn Vo.U'en' ,"tn
sions ''' p'''''
Rnt n otto, b.,no,oa ,l,a, u,boro .ho
.ons of ,ynaIthv ,inronts sntt,od a., 'o .o
trade tba grnndsdna iiI not and In Tina
we find ol5 familiar names fadiner ont frn,o
the activities of our citv IN Ina rsnIacad
nv new ones II ia norIans a fact thot
t6a maio,i,v of tha sona ~ 80 ,,,ooitI,
neonio aro uttla heord % af,ar nniialr.,
,raduation Manv NJ them have az
taste for trad.' oony cbnosa nrofossia,s
where thev nnIv Ia;;.r an,nyp ,ro,,Iana
HAVING no real 'incontiyo iocSi,n anoi;
tion 70 worl' whiIs aAhers hacnnSS. "n,n 80
educated nohodies win n az rong tendan.v
to live extrnyaCnntlv and snenS nIl tIs
money they can command. The fathers of
these drones. notinv their unwilling.
ness or incapacjty for b3,siness affairs
will not leave them tbe control of
property which they do not know how 10
manage, and, therefore, in their wills
leave their property in the trust of men
confidence for the benefit of these heirs
with. perhaps, reyersion to their children
The incomes derived support these men
and, If they marry. their families. In GOOD
style. In some cases these legatees. hay.
ing scholarly OF artistic tastes, 70 abroad.
live and b"lng up families of un- American
children In England or on the continent of
of Europe, Cases of this kind ara not in
frequent.
Then there il the matter of sex ir
descent, and as daughters constituts
about one half the total OF the children of
rich people. their proyision il n,iita an
important factor In the creation of
trust properties. Daughters of rich men
are much sought after by dashinp Int adj
venturous wife hunters Experience has
shown that to dover n wife in her own
control ON marriage Is to practically give
her fortune TO her husband. How Ia
guard this property for her own benefit,
and for that Of her children. is the CON
sderation of the prudent father. Ia his
will, therefore, he leaves the daughters
share of his property In trust for her hen.
eft, or for that Of her children. with the
right Of reversion to the latter in the event
of her death, the husband to have no con
troll of the same. and the income to be
rail lirac, ly 4, bar nr 10 hon oh Il .l,o,, 49,,