The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-01-04

vi e"p eS AA1oAo |
of entertaining than General Hayes.
The necessities e his position as presi-
dent, with q considerable number CT
relatives always about him, obliged him
to spend at least half Of his salary.
When General Harrison retired, he is
believed to have saved about 800. 600
and this he added to property which he
possessed before entering the White
House, making q snug little fortune.
But all of these accommodations OF re-
cent presidents fade into insignificance
beside the fortune which Mr.. Cleveland
will take with him into private life next
March. He is generally regarded as a
millionaire by those having II close
knowledge of his affairs.
This money has been accumulated by
economical living aud by judicious in
vestments.
When, - years ago next March. Mr..
Cleveland took Office as president, he did
not have $40. 900. His salary q presi-
dent for eight years amounts to $780,
900. During the four years he was ont
| of ONCE practicing law in this city he
! earned another 900, 900, Of which $780,
| 900 was derived from his interest in the
6rm of Bangs, Tracy, Stetson q Mac
Veagh and the other $40, 600 from
refereeships and other outside fees.
That makes q total Of $500, 900 which
; he received during 10 years, or an aver
age Of nearly $42, 900 per year. Mr..
Cleveland has lived economically.
Everybody who has watched the scale
of his expenses at Washington knows he
does not spend $40, 900 a year. During
four years in this city he lived ut the
rate of about $40, 900 per year. That
would make q total of $160, 900 spent
for eight years living expenses in the
White House and of $40, 600 for living
expenses during four years in New
York.
This would leave a clear saving OF
$500, 900 during these II years. BY
natural accumulation and judicious in
vestment this sum-. under the careful
management of Mr.. Cleveland, now
amounts to over $500, 600, making him
the richest president who ever left the
White House, not even excepting Wash
ington, who was land poor to the day
Of his death.
MIR. C!eveland's real estate holdings
at the present time are estimated to bf
worth more than $4OO, 900. OF this
$3.50, 900 is represented ut Gray Gables.
There are over 100 acres Of valuable
land in the property, and on the house
and grounds the Tudor family Of Bes'
ton spent over $3.50. OGO before it was
sold to Mr.. Cleveland. He bought the
place cheap and has done much to i'm
prove it by the building of a sea wall,
the clearing of ponds and the opening
of roads.
Gray Gables is now in fine condition
and all the land in the vicinity ha'
) risen in value since the Clevelands wen
I | there to live. The furniture in the nous,
) is estimated to be worth s., 600, ant
, the yachts and boats So, 900, while thu
! horses, carriages and live stock are pu
t down at $40. 600.
Woodley, tho winter home of thu
: Clevelands, is easily worth $3.50, 600
t j is a part of the district where tn,
value Of property has been rising rap
e idly.
Red Top. which is not far away, wa
purchased by Mr.. Cleveland some year
ago and sold at Il large profit, AM
o Woodley has been wen q better invest
o ment, for Mr.. Cleveland got it at a bar
gain and could sell a small part of tn
land now for more than the whole plac
stands him in. The furniture at Wood
ley is worth at least S.. 1000 and cost
good deal more than that. The horse
b and carriages are transferred from Ora,
Gables to Washington when the Cleve
lands return to the White House for tn
winter.
II Gray Gables and Woodley, with al
they contain. represent $42S, 900 Of &C
% tual value, possessed by the man VIII
10 went into Office IL years ago with III
p