The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1906-03-16
THE LocKHART WEALTH.
How $50, 900 Was Made from Three
Barrels Of OIL


The board Of tax assessors of Allegheny
county IN Pennsylvania purposes to clear
the mystery that has hitherto cnvclopcd
The estate OF the late Charles Lockhart of
Pittsburg, which is nowAsaid TO amount
to $lS0. 10000 and to have grown to that
size from three barrels of crude petroleum
bought In 1882 says Pittsburg special dis
patch to the New York Herald.
Lockhart died on January rs, 1905. leav-
Ing will in which ne divided the bulk
of his estate between two sons. j. IT. Lock-
hart and John NJ. Lockhart, and two
daughters, Mrs. John r. McCune and Mrs.
Henry Lee Mason. To his other child.
Mrs. William S. Flower, who married q
young dentist against the wishes OF her
family. he left only the income of 100000.
The will was drawn in such shape that ii
was not necessary to divulge the value OF
the estate, which was announced to be be-
tween 100000 and s15.0oo,0oo. He had
been popularity rated at between $500, 0Q0 cox
and $500, 600 600.
1t is said that Mrs Flower will reopen
her contest OF the will. She had settled
her case for s475,000 and a life .ntercs, in
$l300,OO0 on the basis OF the estate being
worth A00o0.00O. 1t now develops that the
estate Is worth nearer $2O0. COX, 900 than $40,
100000, and her attorneys are preparing
to reopen the case and demand more
liberal settlement.
Secrecy has been the keynote of the
, 'Lockhart family. Charles Lockhart was
never communicative to the public, and
those who knew him respected his craving
for privacy. 1t was due to this inherited
desire for secrecy that Mrs. Flower was
able TO make better terms with her BROTH
'ers and sisters than were provided by her
fathers will.
Even the reasons on which her suit
would lie based were not made public, but
~ ia a
least $500 0o0, 600. Her share IN view of this
was ridicuously small The suit would
nave resulted in making public the value
| of the estate, and to avoid this the other
four heirs sacrificed $5OO00 each. This,
with the $4,000 trust fund and 100000
cash left to each OF the chilren, presum-
ably to tide them over until the estate
| could be settled gave Mrs Flower 3l.7O0, :
900. With this she was content to abandon
the contest. Now the board OF assessors
mas declined to accept the heirs estima tie
OF less than 600 and have returned
the statement 10 them to be sworn to. The
assessors believe the estate is worth $780,
| 600, 900.
Mr.. Lockhart was a man OF simple but
cultured tastes. While he had a remark
| able talent for making money, he was a
! tevotee 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
npon with a crude copy.
He was charitable. but was afraid of
| appearing ostentatious. 1t Is told Of him
that when committee OF women would
! wait upon him to secure a contribution &c
| charity Mr.. Lockhert would perhaps put
his name down for $50. Then the COM
! mittee would seek Mrs. I-oCkhart to secure
! her mite.
| CHANGING over the list, Mrs. Lockhart
| would come to the item. Charles Lock-
11orf }ytu
Mrs. Lockhart would say. "Mr. Lockhart
meant $500, not $50. l 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 a
smile, draw his check for sI50
| Mr.. L>ockhart's great fortune grew from
the purchase Of three barrels of crude
petroleum. He was born on farm in
| Scotland in 1873 His parents were for the
! time and place we'll to do. When seven
| years old he went to live with his uncle,
merchant at Garliestown a Scotch sea-
| port. In 1886 the Lockharts cmiRratcd to
the United States. Charles Lockhart came
| to Pittsburg, securing employment with
| the wholesale grocery firm of James Nc
! Gully &. Co. In 1855 he became a member
| Of the Arm.
| 1t was while stu 4 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 a salt
well in Westmoreland county, from which
the McCully company obtained the salt il
sold. Disposing of this oil at considerable
profit, Lockhart purchased controlling
interest in the salt we'll. From that time
| April, 1s53-until his death he was an oil
| producer
After the discovery Of oil at Oil creek in
1859 by Colonel Drake. Lockhart sent a
representative to investigate the field.
Phillips, Frew e. Co. was organ
lied, I-ockhart being member. In March,
1850. oil was struck, and sixty-four barrels
were shipped by water to Pittsburg In
May, 1860, Mr. Lockhart went to Europe
with samples Of crude and refined petro-
lcum and opened up the European market
for American OIL
In the same year Lockhart, with others.
built the first refinery in Pittsburg and
later, with William G. Warden, established
commission house in Philadelphia and
built the Atlantic refinery there Upon
the organization OF the Standard OIL com
pany in 1874 all Mr.. Lockhart's oil interests
were merged into 1t, and he became an
ict!ve factor in that corporation.
OF MOISTURE IN BUTTER.