The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-10

we are getting rather too accustomed
to the glamour of great wealth to mar
vel much over its possession, but when
comparatively young man dies and
leaves huge fortune to two children
the situation becomes interesting from
the fact that in the course of ordinary
events these minors will become two of
the richest young people in the world,
says the New York Herald
A conservative estimate places the
real estate holdings of the late Ogden
Goelet at $25, 100000. His personal prop
erty was about S., 000, O00 The property
set apart under his will for the imme-
date use Of his widow and his two
minor children, aged seventeen and
eighteen respectively, is probably worth
$1O,O0O,O0O, leaving 100000, 900 to accumu-
late until the children reach the age
of twenty-five, when the entire sum is
to be turned over to them. In eight
years, adding the yearly income to the
principal and allowing for some GER
tain advance in value Of the Goelet
estate, the trustees should have about
$4e,00O,000 to divide between the two
children.
CREATING AN ENTAIL
In proportion to such an enormous
fortune for her children the settlement
of only $150,000 a year upon their moth
er seems almost inadequate, but as Mrs.
Goelet has the use Of the town house,
the beautiful chateau in Newport, and
their contents, an opera box and horses
and carriages for life, together with
the sum of $500, 900 If she elects to relin-
quish the town house, 1t cannot be said
that she Is not extremely well provided
| for.
In leaving the bulk of his property
directly to his children, Ogden Goelet
| is evidently pursuing the policy of the
Astors and other multi-millionaires by
creating as much of an entail as our
laws allow though more liberal than
the Astors, he leaves the same amount
to his female issue as to the male.
| If, when Mrs. Goelet returns to So
ciety she should open her houses on
the scale upon which they are built,
especially the Newport house, she will
find her allowance of $150,000 a year
none too large. If she resumes the po
sition of one of the leaders of New
York society, which she held so grace
fully, and only abandoned on account
of her husbands i'll health, she will
find many claims upon her purse
strings as we'll as upon her
time and energies The scale of mag
nificence in entertaining Is ever on the
increase. Dinners and balls after the
new mode are only possible to the very
rich, and an income of $4,000 is by
no means ineXhaustible when the cost
of single entertainment runs up into
the thousands, but 1t is generally I'M
derstood that previous settlements
have already made Mrs. Goelet very
rich woman.
HOW CAN THEY SPEND IT?
AS for the children, their fortunes
place them quite without the pale Of
ordinary mortals. With twenty mill
ions absolutely her own Miss May Goe-
let will be the richest young lady in the
world She will have that world at
her feet. Young, beautiful, accom-
plished, and with such a dowry, where
and upon whom may she not look
with the perfect consciousness that she
is queen of the situation and empress
of the courtiers Of the world?
Such wealth is an enormous, a stu
pendous responsibility for any young
lady to assume With her wealth she
can buy Kingdoms, create armies, build
ships, erect towns, endow universities,
save the heathen-nay, there is no
limit to her possibilities, and the beau
ty of it is that as she grows older and
more experienced her riches must in
crease with her age. With ordinary
care and prudence she can manage to
leave double her 500, 100000 to her chill
dren. If she should not marry, con-
tingency which is beyond the bounds
OF reason, except that she must suf-
fer from an embarra ssment of riches in
suitors, her fortune on her death goes
to her brother, or to his children.
Think Of some of the great weddings
in our social history-the Martin-Cra-
ven wedding, the Could Castellane
wedding, the Vanderbilt-M marlborough
wedding Those girls all had large
fortunes, two of them at least well up
in the millions, but dependent more or