People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1897-01-22
THE RICHEST PRESIDENT
why Mr. Cleveland VIII be Very Wealthy Man When lie
Retires Next March.


years he was out of Office practising
law IN this city he earned another
100000, of which $4,000 was de.
rived from his interest in the firm of
Bangs, Tracy, stetson &c Macveigh,
and the other $4,000 from referee
ships and other outside fees.
That makes total Of half million
dollars which he received during
twelve yearp, or an average of nearly
$4,000 per year. Mr.. Cleveland has
lived economically. Everybody who
has watched the scale of his expenses
at Washington knows he does not
spend $4,000 year. During four
years in this city he has lived at the
rate Of about $4,000 per year. That
would make a total of 100000 spent
for eight years. living expenses in
the White House and of $4,000 for
living expenses during four years in
New York.
This would leave clear saving of
100000 duringssthese twelve years.
By natural accumulation and iadici-
GUS Investment this sum under the
careful management Of Mr. Cleveland
now amounts to over half million
dollars, making him the richest Presi-
dent who ever left the White House
not even excepting Washington, who
was land poor TO the day of his
death.
Mr.. Cleveland's real estate hold
ings at the present time are estimated
to be worth more than 100000. OF
this $4,000 is represented at Gray
Gables. There are over 100 acres of
valuable land in the property, and
On the house and grounds the Tudor
family, Of Boston, spent over $780,
600 before it was sold to Mr.. Cleve-
land. He bought the place cheap,
and has done much to improve it by
the building Of sea wall, the clear
ing Of ponds and the opening of
roads.
Gray Gables is now in fine condi.
ton, and all the land in the vicinity
has risen in value since the Clevelands
went there to live. The furniture in
the house is estimated to be worth
$4,000, and the yachts and boats
$4,000, while the horses, carriages
and live stock are put down at $751;
600.
Woodley, the winter home Of the
CleYelands, is easily worth $4,000.
1t is q part of the district where the
value Of property has been rising
rapidly.
Red Top, which is net far away,
was purchased by Mr.. Cleveland
some years ago and sold at large
profit. and Wooaley has been even a
better investment, for Mr.. Cleveland
got it at bargain and could sell o
SNAIL part of land now for more than
the whole place stands him in. The
furniture at Woodley is worth at least
$4,000, and cost good deal more
than that. The horses and carriages
are transferred from Gray Gable to
Washington when the Clevelands
retarn to the White House for the
winter.
Gray Gables and Woodley with all
they contain represent $428,0O0 of
actual value, possessed by the man
who went into Office twelve years ago
with alnest nothing. 1t has been
shown how mach of this has been
accumulated.
Outside of the savings from salary
and profits from real estate deals,
however, it is generally believed the
President has made large sums Of
money by following the advice of
friends upon whose judgment he
could rely in stock transactions.
Thus the rise in Chicago Gas, which
made the fortune of his intimate
friend, E. G. Benedict, is believed to
have Noted the President many hun
dreds Of thousands Of dollars, and
soma say millions. He has much
respect for the opinion OF mfr. Bene-
dict, and the latter advised all his
friends TO get in on the ground floor
when Chicago Gas was cheap.
Nobody knows the extent OF Mr.,
Cleveland's holdings in this kind Of
property, bat Wall street is Of the
opinion that they are large, ranging
at present from half a million TO ST.
100000. A conservative estimate
puts his holdings OF stocks and bonds
at 100000. This, with his real
estate, furniture, horses, carriages,