The herald., 1893-08-31
A PECULIAR PUZZLE.


Alto university. At one time it seemed
that the university itself was in danger
of collapse. The salaries of the pro-
fessors had not been paid for June and
July, and their baker and grocery and
butcher bills were rolling up at most
alarming rate. Gloom had settled over
Palo Alto and San Mateo. The grocery
men and trades people generally began
to wonder If they ever would get their
money. Day before yesterday, however.
the clouds lifted, and the professors got
their salaries. A great deal has been
said about the enormous endowment
which Governor Stanford left to the
university. Twenty million dollars has
been favorite figure. Nothing could
be more ridiculous than such romancing.
Itseems that his widow lie obliged to prac-
tice the most rigid economy to keep the
college going at all. The immense re-
tinue that was needed in the old days to
keep the Palo Alto farm going has been
reduced nine-tenthe. Formerly Ave
large boarding houses were required to
accommodate the army Of workmen.
Now one house, which is leased to q
Chinaman, suffices to supply the needs
OF the sadly diminished force. The
famous stables which once. under the
charge OF Major Rathbone, contained
five hundred horses of the best blood in
America, will soon be things of the past.
The fine animals are being sold, and will
shortly be scattered to the four corners
of the earth. Fortunately for the uni
versity, Mrs. Stanford heartily shares in
the plans OF her late husband, and is.
ready to accept the sacrifices imposed
on her. In conversation with friend,
the other day, she gave expression
to the following truly sad truths
People think that Governor Stanford
left me very rich woman. thought
80 myself, but it now seems that was
left legacy OF debt, trouble and worry"
There is certainly something very mel
sncholy in a statement like this. 1t was
supposed that Governor Stanford left an
immense estate, and yet it is an estab-
lished fact that. between his death and
his funeral, an overdraft OF $50, 900 was
for some time q source of great anxiety
to his family and friends. What is the
cause of such calamitous shrinkage in
the assets Of dead man? During his
life Governor Stanford's wealth was
vsriously estimated at from $s0,-
100000 to $50 100000. Figures
30 vast ought to admit Of
an almost indefinite ensmalling without
denying to his widow, to whom he ap.
pears to have left everything, including
the Palo Alto University. very liberal
margin over bare necessities. At pres
ent Mrs. Stanford ia imbued with loyal
and wifely determination to carry out
the projects OF her deceased husband.
Whether she will continue to the end in
this resolution, it 10 impossible for any
body short of a prophet, or the son of q
prophet, or the aon of seventh son. or
some other occult individual. to say.
The fnture of the Stanford University
lies absolutely in her hands, and it is
said that the several deeds of trust are
so arranged as to admit of the resump-
ton OF all the supposed enormous gifts
to that institution.
President Jordan, OF the university,
saws that it looks very much as If the
future OF the great college is assured,
now that he and his associates have got
their salaries for June and July, and
that the outlook is for very much
larger attendance this year than last
The attendance during the past academ mic
year is placed by Professor Jordan at
750. This year the professor is Of opinion
that the attendance will be quite one
thousand, although he makes reference
to the hard times, and does not talk as
confidently as one would like to hear
him talk. After all the putting and
"windy suspiration of forced breath"
that has attended the evolution of this
much vaunted university, this is great
anti-climax. With his long and SUCCESS
full career as a business man, Governor
Stanford. one would think, considering
the prodigious means that were un-
doubtedly at his disposal, ought to have
been able to have left his estate in bet
ter plight than it now appears to be.
The whole incident recalls the unac.
countable atrophy that attacks Estates
supposed to be princely that have passed
out OF the hands Of the men who created
them. When Jim Fisk was brought low
by the bullet of the assassin Stokes, he
was supposed to be worth fifteen or
twenty millions of dollars. Under the
judicious administration OF Jay Gould,
his partner, Fisk's widow managed to
squeeze out about SIS. 900 as her interest
in her late husbands estate. What is
the process by which these lightning
disappearances OF fassets is accomplished?
1t is singular and unlucky coincidence
that, just as Gov. Stanford's great rail-
way holdings will be realized upon. the
securities Of the Southern Pacific rail-
way are undergoing remarkable shrink
age.
There is enough in the matters we
have suggested to furnish food for refec-
tion. Under the peculiar fnesse and
juggling incident to the modern method
of handling estates, it is the dictate OF