The islander. [volume] (Friday Harbor, Wash.) 1891-1899, 1894-09-20
STANFORD'S MILLIONS
The Widow Has Strengthened
Out the Estate.
LAST OF THE DEBTS PAID OFF

When 1t Has Been Finally Distributed,
the University will be the Richest In
America-Its Facilities and Scope to
be Greatly Enlarged.
SAN Francisco, September 1.-THE
Examiner says Mrs. Stanford has paid
off the last of the debts due from the
Stanford estate and has thus early got
its great properties in almost perfect or
der. She is now anxious for a distribu-
ton of the estate, so that she may Sc
cure personal control of the millions of
which she is now executrix. She is
ready to proceed with the expenditure
of large amount of money to greatly
increase the revenues and enlarge the
facilities and scope of the university. As
soon as a distribution is ordered she will
begin operations in a new field. Then
under her personal supervision the erec-
ton of several hundred thousand dollars
worth of new buildings and the early
expansion of the university to three
times it's present magnitude will be
begun. she is ready to begin this work
early next spring if the estate can be
distributed by that time. The estate is
nearly ready for distribution, except for
three claims that are pending. One is a
suit for $75, 900, involving horse, which
is pending on appeal, and another is q
suit for 81, 900 brought recently for books
for the university. The other claim is
the SIS, 00O, 600 claim against the STAN
ford estate, which Attorney General o.
ney has presented on behalf of the gov
eminent to Mrs. Stanford as executrix.
This suit is an annoyance to Mrs. STAN
ford, because so long as it is unsettled it
will prevent her from spending dollar
of the estate in behalf of the university.
She had planned to begin spending
several hundred thousand dollars in en-
larging the institution next spring, but
che will be unable to use any of the es-
tate bequeathed to herself or the univer-
sity by her husband until distribution
is ordered, and this the Probate Court
cannot authorize until all claims are ad-
justed.
Mrs. Stanford has stated that all of
her property and all of the estate willed
to her by Stanford is with the exception
of few comparatively small requests
to 20 to the university, and that when
the estate comes into her private posses
sion it will be used for the university
during her life, as it will be after her
death. There is an ample income to
keep the university going at it's present
cost of about 100000 q year, and the
great properties decided to the university
by Senator Stanford, Palo Alto ranch
and stock farm, Gridley ranch and Vina
ranch, yield large revenue, which has
never been quoted. Mrs. Stanford can
besides this give to the university from
the private fortune that was hers before
Senator Stanford's death and from her
allowance of $4,000 month from tho
estate. But for the large amount OF cap
ital and larger revenues necessary for an
enlargement of the university she is
waiting for the distribution of the es-
tate, of which she is executrix, and
which was appraised at $17, 0OO, 600. This
includes bequest of $3.50, 600 to the uni
versity and that of $500, 1000 to Thomas
Walton Stanford of Australia, which has
been turned over to the university by
Mr.. Stanford. The university can OBJ
tain nothing from these requests until
the distribution is made. As soon as the
distribution is effected Stanford Univer-
sity will at once have added to its avail
able income the interest on ST., DOC, 600.
1t will from that time have practically
the income of the entire Stanford for
tune, which in times of ordinary pros
perity would exceed, it is stated on good
authority, 81 800, 900 year. Its income
will be three times that Of Harvard, the
richest of the American universities,
and greater than the University of Ber-