The herald., 1893-10-10
NE WOULD FORGET FORTUNES,
Immense Sums Slipped STAN
ford's Mind.
The Property Will Amount to Fif-
ty to Sixty Millions.
At Ono Time He Paid Three Per Gent a
Month on Three Milton Dollars
Drawer Fall OF Uucashed
Checks.


Stanford didn't know how much he was
worth. No one now knows to a certainty
the real or approximate value OF his &c.
tate, and when the three appraisers
Messrs. Hammond, rrumbo and Brown,
are through with their months OF work
they will merely have guessed at the
total.
But as between those who hold that
$4,000. 900 will cover the marketable
value OF the property left by the dead
senator and those who say $65,000,000
the supporters of the big figures are
more nearly correct. Frank Shay, now
one OF the Southern Pacific attorneys,
was for many years the senator's private
secretary. and sustained such close rela-
tions to him that ne probably knows
better than any one else the value of the
great estate. Yesterday Mr.. Shaw
talked freely of the senator's methods
in money matters and gave fat-footed
opinion as to what the fortune will foot
up.
ENOUGH AND TO SPARE.
'sSenator Stanford died worth between
$5O,0O0,00O AMI $4,000 900, aad i
shouldn't be at all surprised to find the
total running over 500 600 .0O0," he said,
with the intonation Of man perfectly
certain OF his position. "Fifty-tive mil
lions would be conservative estimate. -
"How will its value compare with
that OF the estate OF Charles Crocker 2"
II should say approximately the
same"
'.What was the appraised value of the
Crocker estate?"
THAT appraieement Was peculiar. 1t
was appraised at about 0,00U,0 600. OF
this Mrs. Crocker received one-half. She
died not long afterward and her half was
then appraised at about $50, 900, 900. So
you see there could be little reliance
placed on the first appraisement. For
instance, the rstappraisemen of South
ern Pacific stock wac at So share,
which. OF course, was ludicrously low.
Again the Crocker half interest in the
Bay district track property was ap-
praised at $155. .0c0, r:-cz : ,250. 900 had
been refused for tie property just before
that. But taken for all in all 1 should
say the market value OF the Stanford es-
tate would not vary much from that OF
the Orocker estate.
"Of course Governor Stanford owned
comparatively little city property. He be-
lieved in country real estate and invested
on that belief. On the other hand
Charles Crocker bought a great deal of
city property and comparatively little
country land. Both were generous and
lavish in their expenditures, but both
were close and careful buyers, and their
investments we're sound ones. So,
speaking broadly, the two estates should
foot up about the same.
TWO TRUSTING MILLIoNAIREs.
1.-THE two men hxd absolute conf
dence in each other, and many of their
transactions were thoroughly illustrative
of this. Whenever the governor was
away and money had to be paid to fill
his transactions Crocker always paid it.
When Crocker wse away Stanford paid.
These transactions would amount to
enormous sums, but once the matters
were settled both men would forget all
about them. Perhaps the accounts
would run on for years. Then the eve
of one or the other would fall upon
sbalaEcs sheet or something would bring
the matter up. Crocker, for instance,
would see: Due from Stanford, $780,
000.' What's all that about?' he'd ask
in surprise, and being told he'd go to
the governors Office and get check for
the amount. Just as often the balan ce
would be the other way. and both men
would have forgotten all about the debt.
''There was an amusing instance of
this in the purchase of the Bay District
track property. The old racing associa-
tion held leasehold interest in the
notes for SAC, 900. 1t went to pieces, and
rul IA hor 1oh
Flood, Mackay, Fair, Haggin, Tevis and
the big stock brokers of those days, they
let the governor in for the entire
amount of the notes. He found that in
order to protect himself he would have
TO buy the property. The transaction
amounted to $140,000.
"When the time came to pay this
money the governor was away, go
Crocker, after his usual custom, paid it.
Stanford didn't really want the prop
erty, and when he came back he hap.
pened to say to Crocker one day:
"'Charlie, why don't you take half
interest in that race track investment
"All right said Crocker, I'll do it,
"Yaars went by. Both had forgotten
:. the transaction. don't believe they
really knew the property belonged to
them, except as the fact might have
been called to their attention from time
to time. Then one day in came an Offer
from Borel of $500, 900 for the property.
This made them think.
".By the way, Charlie, don't think
you ever paid me for your half OF that
tract eaid the governor. L guess you
owe me $4,000 on that
Hanged if know replied Crocker,
Perhaps do. Pll look it up and give
you check.
"Crocker went out and came back
after few minutes, smiling all over his
face.
"'No, you don't. governor he said,
as he shook with the joke within him.
You can't play any OF your games on
me. Ipaid for that property myeelf.'
"'Is that so?' asked Stanford. Then
/ owe you $70,000' With that he wrote
out check for the amount. This shows
you how they trusted each other, and
how with their great wealth they were
abe to forget sums which would make
ordinary people rich. Why. one day
while the governor was gone it was
necessary to pay out over $S00,000 on
his account. Crocker rustled around a
little while and paid it. don't suppoee
either man could have told anything
about the transaction month from that
time unless something brought it de6n--
itely to his attention.
BONFIRE OF "PHANToM NOTES"
ain 1885 we had big bonfire down i'm