The Jennings daily record., 1902-11-21
RICH MEMS HOBBIES
MILLloNAlRES WHO SPEND FOR.
TUNES YEARLY.
Andrew Carnegie's Fad for Giving
Away Libraries Is Well Known
Pierpont Morgan Has Large An
nual Sill for Paintings.


pleasure, find something on which to
spend it, That is the proposition
which is met by multi-millionaires OF
this country, England and Germany.
1t is a peculiar fact that the men
who have this opportunity choose one
thing as the object of their expendi-
lures.
The millionaires choose their hob
bies and they are as various as the
wealthy men are numerous. Apart
from the expenditures required in
business these millionaires spend
more on their hobbies than they do on
themselves personally.
Pierpont Morgan is credited with
an annual personal expenditure of
about $l50,0OO, and his average an
nual bill for paintings is about $780,
900, not far from double what he
spends on himself. His entire collec-
tions of famous paintings amounts to
200 pictures, and is valued at $10.'
900 900.
Staveley Bruce, the English ship
ping and iron king, has made spe-
cialty of statuary, as well as paint
>.
expectation of art treasures has had
a peculiar effect on the collection OF
Mr. Brace. He is obliged to keep
100000 worth of statuary in Italian
cities. He adds a love for pictures to
that for statuary and seldom spends
less than 100000 a year for paint
ings.
Mr.. Carnegie's fad, as is well
known, is the public library. He is
credited with handing out $15,0O0,Oo0
annually in putting his preaching into
practice. Last year his gifts in this
direction amounted to $5,00O,OOo in
the United States. He gave in addl-
tion S5,Oo0,O00 to English workmen
and SlOOOO,O0O to Scotland. AS he is
now giving away a good deal more
than his income, which is $le,0OO,ooo
a year, he may be able to realize his
ambition to escape the disgrace or
dying rich 1t has been computed
that at his present rate OF giving II
will require twenty years before he
can become poor
An English millionaire, another or
the three multi -millionaires who give
away most of their income, is Mr.
Spiller, the cloth and cotton magnate.
His favorite amusement is a peculiar
one, and it has made him known as a
sort of fairy godfather to the poor
children of northern English towns.
He organizes and pays for huge treats
for slum children. The outings and
Measure excursions he gives these
children cost him in the neigh borhood
of $500 900 a year. In addition to this
he supports eight chi1drens hospitals
and ORDINANCES. His hobby on the
betterment of poor children gives MIN
no time for any other amusement. lie
lives in a fashion similar to that OF
well-to-do professional man, and
maintains but one establishment for
himself.
When the more personal amuse-
ments of millionaires are considered,
it will be found that yachts and race
horses take the most OF many q
wealthy mans money. 1t has been
computed that eighteen men OF great
wealth-American. English and or
other acknowledgement the larger
part of their income on yachts. Sir
Thomas Upton is among the best
known. He spent 100000 on the cup
races alone. Col. McCalmont is an
other English man, rival OF Sir
Thomas, who spend a fortune on the
water. Aside from the royal yachts
men Of Europe, it has been estimated
that the eighteen millionaires inter-
ested in this sport spend about $20.-
900 900 year on their craft, and
that the value of the yachts foots up
to 55,O00,000.
Fifteen millionaires spend their
money on racehorses. In this the
American again leads. and there are
two American turf miliionaires to one
English Lately the Americans have
had about their own way on the
English turf as a result of their eX-
penditures on racehorses. There is
some profit for the successful in turf
expenditures and big losses for the
unsuccessful.