Weekly expositor. (Brockway Centre, Mich.) 1882-1894, 1891-07-10
HOW FORTUNES SHRINK.
WHEN MILLIONAIRES DIE THE
TRUTH COMES OUT.
The Wealth OF the 'Piutocrats,' Ia Very
Much OF 1t In the Eyes OF the
Envious-They Have Enough
to Keep Away the Wolf

In the estimates of the wealth OF
millionaires going the rounds of the
press and given in common report, a
shrinkage Of from two-thirds to four
fifths should be allowed in order to get
somewhere near the truth. 1t may be
said with safety that there is not man
living in tho United States whose
wealth is 800, 900. 000-that there is
probably not u man living in the
United States whose wealth is $780,
600, 600, says the Chicago Journal.
There are few possibly worth from
$40, 600, 900 to $25, 600, 900, but they
are very few. The average mob OF
millionaires, by which man worth
So, 900, 900 to IS, 900. 900 is commonly
meant may range in the amount Of
their wealth from q few hundreds Of
thousands Of dollars to one million.
There is a recent illustration from n
neighboring city. John Plankinton Of
Milwaukee was for many years a part
ner of z. ID. Armour, and at one time
was supposed to be the wealthier man
of the two. He had been thrifty,
prosperous man, at the head OF one Of
the great packing houses in the coun-
try. He owned a big hotel in Milwau-
kee, a palatial residence and much
other real estate. He was in great pork
deals and other speculative affairs like
the other wealthy packers. He had
no back-sets nor great losses in regular
business or speculation of which any
body knew but himself His wealth
was estimated at $40, 900, 600 by those
who estimate Jay Gould's wealth at
$3.50, 600, 600, Vanderbilt's at $780,
600. 600 and that of other railroad and
business magnates at SO. 600, 900 to
$50, 600, 600. Invoices, however, are
better than estimates, and take the
wind out Of exalted guess work. Mr.
Plankinton's will has been admitted to
probate, and his personal and real
property is inventoried at 81, 600, 000
1t is probable that there are not
three cases Of "nulti-millionaires" in
the country but that would show the
same ratio of shrinkage on a cold cash
inventory. Nine-tenths OF the wealth
of the richest men is in the air. Great
incomes are great wealth only when
based on actual property that would
be worth the same amount in cash
whether the owner were dead or alive.
Reams of railroad and other corporate
stocks do not make wealth unless they
pay dividends to the holders, whether
the corporation is under friendly man.
agement or not. Men having great
amounts OF visible property often owe
great invisible debts. A man OF bust
ness genius may handle great property
interests OF which he absolutely owns
but little, receive an immense income,
and live in a style of lavish display
with gilt-edged credit and apparently
inexhaustible means. But with death
the inventory ordered in probate pro-
ceedings tells u story OF little actual
wealth.
Jay Gould, with others whom we
may select may control dozen rail-
roads, but none of the railroads may
have paid n dollar of dividends in
years. He is not dollar richer for
all the wheels that turn and the thou
sands of officials that obey when he
gives the word. A banker, worth OF
his own money 500, 900 or 5000, 900,
may manage bank with millions of
deposits and discounts, and it looks as
IL he owned it, but he does not. Hun
dreds OF instances may be cited of
great apparent and but moderate real
wealth. Wait for the will, the probate,
the inventory.