The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-04
REED ALMOST
A MILLIONAIRE
---------------
Value Of the Former Speakers Els
tate Surprises His Friends
in Washington.
Reed Always Claimed to Be Poor,
hut His Executors Discover IN
expected Wealth.
His Fees for Legal and Literary
Services Were Invariably
Very High.
New York Sun Special Service.

Chicago June 4-William e. Curtis In
a Washington special to the Record Her
aid says:
The friends of the late Thomas B. Reed
in Washington were astonished to read
dispatch In the morning papers stating
that according to the official report OF his
administrator he left a personal estate
valued at $431, 900 net, after the payment
of all debts and obligations and all fees
Of administration. This fortune was
found invested in gilt-edge stock and
bonds.
Mr.. Reed always pretended to be very
poor. but some of his intimate friends
was an affectation, because they knew OF
large fees received by him from time to
time for legal services and literary work.
He never wrote a line or made a speech
for nothing. Each Of the many articles
which from time to time appeared in the
magazines from his pen brought him $500
and I know Of one instance at least In
which he received 500 from a New York
newspaper for an interview he prepared
with himself upon a current topic. His
lectures brought him $500 night, and
occasionally in large cities like New York
and Boston he received $1,000. The year
before he left congress he delivered five
lectures in one week for which he received
a check for $4,000.
HIS Fees were High.
He estimated his legal services at a
very high value, and unless his clients
made a bargain with him in advance
they were sure to be surprised when they
received his bills. There is a story that
| while in London some time ago. he
charged John v. and G.. B. Farwel of
Chicago $4,000 for giving some informa-
ton to their English solicitor about the
laws of the United States bearing on the
sale of their Texas lands, and [ know
where he made a life enemy Of one of his
closest friends by sending him a bill for
advice given on legal question in what
was supposed to be a friendly converse
ton.
! In discussing that instance and the
Farwell affair Mr.. Reed took the ground
| that If he had been a tailor and a FRIEND
| had asked him for a suit of clothes he
would certainly have expected pay fol
the material and the work, and his lega
knowledge having been acquired by hare
labor and study, could not be given away
as he expressed 1t, 'like salvation" HI
was the subject of a great deal Of criti
cisn in this respect. He was called
lavaricious and penurious, but never dis
honest, and In 1896, when he was making
a campaign for the presidential nomina
ton, there was some unfavorable com
ment about his acceptance Of fnancia
!, assistance from friends when there wa
really no excuse for him to incur an
expenses or spend any money. Mr.. Rec
explained, however, that he had no sourc
of income except his salary, which a
speaker was $4,000 year. He lived i
such quiet way that it was said h
, never spent more than half of it.
Those who were most familiar with hi
affairs would have been surprised if hi
estate had turned out as much as $3.50
O0O The general estimate varied fro1
100000 to 100000, although 1T wa
known that his brief connection with til
law firm Of Simpson, Thatcher & Barnul
4 had been unusually profitable.
SpeculatIons Were Lucky.
:, The fact that he had $4,000 cash c
Z, deposit with his brokers at the time
;. his death indicated the source of a COZ
!. siderable part Of his money. He enjoye
!, an intimate acquaintance with sever
= Of the heaviest operators on Wall stree
q and his hpeculations must have bee
y very fortunate.
1t was also a surprise that he had r
: tired from his law partnership before h
g death. No announcement had been ma.
SC of the fact, and none of his friends
n this city were aware that he no long
J., retained the professional connection whi
Of had been SO extensively advertised. TT
J. confirms. however, the story that he !
tended to leave New York and return
re- Washington to reside. He told me tn
is he was thinking of doing so because t
at atmosphere was more congenial here a
l. the expense of living was 80 much less