Omaha daily bee., 1901-01-07


to be branch and the west gained the
largest packing and provision plant in the
world.
Interests lie Controlled.
The property interests for which Mr.
Armour stood are estimated at $3.50, 900 900
His personal share of this property is
variously estimated at from $4,000 900 to
$50, 900 COO
In works of charity MIR. Armour's monu-
ment will be found in the Armour insti-
tute, to which but short time ago he
gave S75O,000 In one remembrance.
Asked once what he considered his best
paying investment he replied: "The Ar
mour institute"
The institute today represents an in
vestment on the part of Mr.. Armour and
his brother Joseph of s2,750,0O and a
yearly expense for maintenance OF 100000.
While Mr.. Armour's name was more gem
orally associated in the public mind with
the great packing and provision establish
ments IN which he was interested and
which do an annual business exceeding
500 000 employing 20 900 persons, and
having representatives in every city of i'm
portance in the world, he was actively in
terested in many other enterprises. AS
owner OF the important system of ele
vators, and as heavy investor in the
grain products of the middle and western
states. Mr.. Armour was an important fac
tor in the grain markets of the world.
Mr.. Armour was a heavy owner in the
Chicago, Milwaukee & st. Paul railroad
and In the reorganized Baltimore G. Ohio
railroad. He was largely interested in
Illinois Trust and Savings and Northern
trust banks of Chicago, and in the Armour
bank of Kansas City. He was a director
of the Northwestern Life Insurance com
pany and was heavy stockholder in the
company which controls the street rail-
ways of Kansas City, Mo-, and Kansas City,
Kan.
His Family and Relatives.
Mr.. Armour married Miss Malvina Belle
Ogden, daughter of Jonathan Ogden of
Cincinnati in October, 1862. They have
had two children, Philip D.. Armour. jr.,
who died year ago, and j. Ogden Armour,
who seems destined by character, training
and circumstances to succeed his father
as the head of the Armour house. OF the
five brothers who have been identified with
the upbuilding of the Armour enterprises
Herman o. Armour who went to New York
in 1871 to look ater the New York interests
of the partnership. is the only survivor
Joseph +. Armour, who came to Chicago
in 1868 and gave his attention to the super
vision of the packing business, died several
years ago.
Simon B. Armour, who for many years
directed the Kansas City packing business,
died in March, 1899. Andrew Watson Ar
mour, who managed the banking interests
of the Armours in Kansas City, died in
1873.
As others Estimated Him.
81 have lost the best friend l had on
earth and can say nothing further tonight"
was the way Rev. Frank w. Gunsaulus ex-
pressed himself on the death of Mr..
| Armour. The dead millionaire and Mr..
| Gunsaulus, president of the Armour insti-
tute, have been very firm friends. During
Mr.. Armour's sickness he has been a daily
visitor and was at the bedside when Mr..
| Armour died.
silence ON Gigantic Deal.
| DR.. Frank Billings who was at Mr..
Armour's bedside when the end came and
| VINO had been almost constantly in attend
| ance upon the sick man, stated tonight that
he had heard Mr. Armour make no mention
| of his interest in or profits arising from the
gigantic Milwaukee-Great Northern deal. by
which he was r;puted to have made $4,000,
900 to s5,o6c.aa last week He looked
upon such holdings" said Dr. Billings, "as
investments rather than from the specula-
tive viewpoint
Wealth Not Exaggerated.
Referring to Mr.. Armours fortune, the
! Chronicle tomorrow will say:
Mr.. Armour's wealth was a subject thai
may never be accurately known. 1t was
| estimated to be not less than lI30,0O0.00l and
by some over s50,O00,00O Tic combined
wealth Of the Chicago Armours is fixed
| at $60,000,O0O In one sense the total Is the
wealth OF Philip ID. Armour, but just how
much has been carried in his own name
and how much in the name of his sons is
unknown. He has not been borrower
| He has always been able to pay cash fol
his purchases ana he has never asked q
customer to discount a bill In his great
| wheat deals he has always had ready
cash. In times of panic he has showec
! vast resources in spot cash In 1898 wher
| a run was made on the banks of Chicago
and the credit of the city and the fate
| of the exposition was hanging In the bal
| ance, Philip ID. Armour bought $500 000 II
| gold in Europe and offered help to the bis
.'titutions of the city from his cash re
sources in Chicago. With a business o
| $1O0, 900 a year in the packing depart
ment alone a grain business OF half tina
amount and practically the owner OF {
great railroad system, the estimate of his
wealth must appear modest instead of eN
aggerated.