Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-07-22
TIE AACKAY MILLIONS
A Close Friend Estimates the
Dead Mans Estate at About
SSO,OOO.OOO.
He Had Big Interests Abroad
and His investments We're
Successful.
Charities Not Likely to Receive
Much in the Way Of
Bequests.

New York, July 22.-Conservative
estimates OF the estate left by the late
John w. AIackay place the amount at
$50, 100000. 1t is thought that Edward
C. Platt, treasurer of the Commercial
Gable Company, and confidential friend
OF Mr.. Mackay for many years, could
make a close estimate, but he declined
to discuss the matter.
One of Mr. Mackay's life-long friends,
u Californian and many times mil
;ionaire was asked the same question,
The man thought for few minutes and
said:
With the possible exception OF
limited States Senator William A. Clark,
John Mackay died, l should say, the
west. BY that 1 mean that he died
leaving more property behind him than
any man who laid the foundation for
his fortune in the western country.
He left more money than Stanford
or Huntington or Marcus Daily, and
much more than Fair, Croker, Flood
or O'Brien. OF course, anything that
l might give in the way of an estimate
of his estate would be pure guesswor1.
but | would say that Mackay left not
far from $S0,oo0.0O0.
Some of his ventures were just as
daring as that of tunneling the noun
tains of Nevada. But anything that
engaged his attention had to have what
he believed to have solid foundation,
and John Mackay rarely made mis-
takes OF Judgment. His big investments
almost uniformly PANIED out Well.
Look, for instance, at the Commercial
Gable Company. Many Of Mackay's
friends did not like that when he went
into it. but he thought it was good
thing, and that settled it. He liked to
reply on his own judgment.
Mackay owned a good deal of val.
liable European real estate that most
people over here will not take into
account in estimating the value of his
estate. I am not quite sure, but
think Mackay was the largest Amer
lean taxpayer in Europe.
is there any one who will be to the
Mackay enterprises what John w.
Mackay was?"
There could not be-" was the an
swer, unless there was duplicate of
the original. Clarence Mackay. how
ever, is we'll informed as to his fathers
interests, and for several years he has
spent a part. at least, of nearly every
day at his office in the Commercial Ca
BILE building. lie has a rare bushes
foresight for q young fellow of his
years, and his father once told me that
it was Clarence who first suggested to
him the Pacific cable, just after Dewey
gave US the Philippines. The father
gan to work on it,"
Nobody could say anything about the
disposition of the estate, but the gem
eral opinion was that there would be
no very large requests to charity.
The last cablegram from Mr.. Mackay
vas one in regard to thes proposed Pa
cific cable. an enterprise which has
been his dream for twenty years. This
was transmitted from Lon
don to New York only a few minutes
before he was stricken.
1t was addressed to Mr.. Cook, one of
MS associates in the cable, explaining
The progress of the Pacific cable project
and giving assurance of its compile
ton by July of next year if the United
States government would furnish the
survey made by the Nero.
Mr.. Cook, when asked today as to
whether Mr.. Mackay's death would de-
lay the completion of the Pacific cable,
said that While Mr.. Mackay's death was
q serious loss, yet the work would go
~ ;,,ta
would be completed and in operation
by July /, 1903, unless the government
soundings We're withheld from the COM
pany.