The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1905-03-11


sentative estimate, therefore. this
branch of Mr.. Rockefeller's fortune, in
Guiding the increase yielded by his in
come during the intervening period.
must represent not less than $780,
100000.
1t is pretty well authenticated, how
ever, that for the past decade Mr.. Rookie
feller's yearly income has been steadi-
ly rising from $30,0OO,000 at the begin
ming of the period to a point at least
two-thirds greater than that at the
present time, and that, during the pre-
ceding ten years, 1t grew from SIC, 000, 900
to 100000.
Lives the Simple, Frugal Life.
Mr.. Rockefeller and his family are
modest in habit and expenditure. They
are perhaps the most notable devotees
of the simple life among our multi
millionaires. II we assume that 81, 0O0.-
900 were expended every year in living
and in charity, 1t will be seen that the
natural growth of this income without
counting its compromising power
through investments must have added
nearly $500 900, 900 to the total But this
vast sum has not been allowed to ac-
cumulate in vaults and strong boxes.
Practically every dollar of II has been
invested where it has earned other dol
lars. Many of them, directed by tho
keen trading instinct of their owner,
have multiplied themselves threefold
within the past dozen years. One of the
advantages of aggregated wealth is that
it enables its possessor in times Of
panic or depression to purchase valuable
properties cheaply and by the simple
process of holding them until better
times to realize multiplied return on
the investment.
Three-Fold Profit in Iron.
Mr.. Rockefeller has done this in many
instances. A notable case was that OF
his iron ore properties. During the de-
preston of 1893 he bought. cheaply for
cash. the ore lands of Lake Superior and
the Minnesota ranges. He improved the.
mining equipment. built great docks and
invested in huge ore carriers on the
great lakes. When the era of high
prices came along on the prosperity
wave of 1900 and the United States Steel
corporation was organized Mr.. Rookie
Teller sold out. The $25.0O0.OOO which
Mr.. Rockefeller has in one form or an
other of steel holdings may be said to
represent almost entirely profits on his
investment of dozen years ago. II Is
understood that in addition to his inter
ests in the United States Steel corpora
ton. however, he has very large hold
ings in the Lackawanna Steel company.
while he is recognized factor IN the
affairs Of the Colorado Fuel. and Iron
company.
Very much the same story as his
profitable investments in iron-ore lands
could be told of his connection with the
lead and zinc mines which were trans
ferred to the trust at profit that ran
into millions.
In the discussion about the Affairs OF
the Amalgamated Copper company the
name Of Rockefeller has been mentioned
frequently, but II has been explicitly de-
MED by the legal representatives of
Standard Oil that John d. Rockefeller
has any interest In this company, in
which his brother, William, and his
close associate, H. H. Rogers, have been
the leading spirits. This statement Ii
accepted at its face value in Wall street,
where II is known that John d. Rookie
Teller has heavy investments in much
more profitable company, the American
Smelling and Refining