The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1906-03-08
The L0CKHART WEALTH
How $3.50, 100000 Was Made
From Three Barrels of Oil.
TRAITS OF PITTsBURG MAGNATE.

Man of Simple but Cultured Tastes
Who Craved Privacy and Had a Re-
marketable Talent For Making Mop
ey-D2vOtee of Art-How His COA-
tributions to Charity Were Made.
The board of tax assessors Of Allie
gheny county in Pennsylvania pur-
poses to clear the mystery that has
hitherto enveloped the estate of the
late Charles Lockhart of Pittsburg,
which is now said to amount to $780,
100000 and to have grown to that size
from three barrels of crude petroleum
bought in 1852, says a Pittsburg spe-
cial dispatch to the New York Herald
Lockhart died on Jan. 26, 1905, leav-
Ing a will in which he divided the bulk
Of his estate between two sons, j. III.
Lockhart and John M. Lockhart, and
two daughters, Mrs. John r. McCune
and Mrs. Henry Lee Mason. To his
other child, Mrs. William s. Flower,
who married young dentist against
the wishes Of her family, he left only
the income of 100000. The will was
drawn in such shape that it was not
necessary to divulge the value Of the
estate, which was announced to be be-
tween $1O,0O0,OOO and $15OOO,OOO. He
had been popularity rated at between
$2OO,OOOO0O and $3OO,OOO,OOO.
1t is said that Mrs. Flower will reopen
her contest of the will. She had settled
her case for $4T5. 900 and life interest
In S., 100000 on the basis Of the estate
being worth $4O,OOO,O0O. 1t now devel-
ops that the estate is worth nearer
$200,OOOO00 than $40,0O0,OOO, and her
attorneys are preparing to reopen the
case and demand a more liberal settle
ment
Secrecy has been the keynote of the
was never communicative to the pub
lie, and those who knew him respected
his craving for privacy. 1t was due tie
this inherited desire for secrecy that
Mrs Flower was able to make better
terms with her brothers and sisters
than were provided by her fathers will.
Even the reasons on which her suit
would be based were not made public,
but it was alleged that her father had
left at least $2OO,OOO,OOO. Her share in
view of this was ridiculously small.
The suit would have resulted in max
Ing public the value Of the estate, and
to avoid this the other four heirs sacri
feed $250,000 each. This, with the
100000 trust fund and 100000 cash
left to each of the children, presumably
to tide them over until the estate could
be settled, gave Mrs. Flower $1,7O0,O 900.
With this she was content to abandon
the contest. Now the board Of assess
ors has declined to accept the heirs es-
Innate Of less than SIC, 100000 and have
returned the statement to them to be
sworn to. The assessors believe the es-
tate is worth $1SO,OO0,OOO.
Mr.. Lockhart was man Of simple
but cultured tastes. While he had re-
markable talent for making money, he
was devotee Of art. 1t is said he was
one of the few Pittsburg men of wealth
who had not at some time or another
been imposed upon with a crude copy.
He was charitable, but was afraid of
appearing ostentatious. It is told of
him that when a committee of women
would wait upon him to secure a con-
tibution to charity Mr.. IockhaE.
would perhaps put his name down for
$50. Then the committee would seek
Mrs. Lockhart to secure her mite.
CHANGING over the list, Mrs Lockhart
would come to the item, Charles Lock
hart, $50" "There is some mistake
here" Mrs. Lockhart would say. "Mr.
Lockhart meant $500, not $50. / will
correct it, Then she would subscribe
her mite probably $3.50. When the
list was returned to Mr.. Lockhart for
the two subscriptions he would make
no protest, but, with smile, draw his
check for $3.50.
Mr.. Lockhart's sgreat fortune grew
from the purchase of three barrels Of
| crude petroleum. He was born On
farm in Scotland in 1878 His parents
| were for the time and place we'll to
do. When seven years old he went to
live with his uncle, a merchant at Gar
liestown, Scotch seaport. In 1886 the
AOIAHdltS cnllSIdtCu W Tile UulLcu
! States. Charles Lockhart came to
Pittsburg, securing employment with
| the wholesale grocery firm Of James
McCully & Co. In 1856 he became
| member Of the firm.
It was while still clerk, in 1852,
that Lockhart made his venture in oil.
This was the purchase Of three barrels
from Isaac Huff, who was part owner
In salt well In Westmoreland coun-
ty, from which the McCully company
obtained the salt it sold. Disposing of
this oil at considerable profit, Lock
hart purchased a controlling interest in
the salt well. From that time-April,
1653-until his death he was an oil
producer.
After the discovery Of oil at Oil creek
In 1859 by Colonel Drake, Lockharr
sent representative to investigate the
field. Phillips, Frew & Co. was or
ganized, Lockhart being a member. In