Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1907-09-15
RICHEST BOYS
In The WORLD
MARSHALL FIELDS GRANpsONs
WILL INHERIT A
BILLION.

Upon the survival for thirty-eight
years of two somewhat fragile lads
hangs the ultimate disposition of a
fortune, which at that time is likely
to amount a round billion of dollars.
According to the best estimate that
is the approximate sum which should
be available in the year 1916 for d.
vision between Marshall and Henry
Field. AS the residuary legatees of
the estate, the major part of the mer-
chants huge fortune Is to be held in
trust for them until the elder of.the
two boys, who is now 13 years old,
shall Lave attained the age of so.
Sholsd both the lads live until then,
Marshall is to have three-hfths of the
residuary estate and Henry. who is
two years younger than his brother.
Will inherit the remaining two-fffths.
Already the two striplings are
probably the wealthiest, minor broth
ers In the world. Should both live
to realize the partition of the estate
under the terms of their grandfath-
er's will, the share of each should be
sufiicient to rank him among the
wealthiest men in the world. If, on
the other hand. either Marshall or
Henry should die without issue be-
fore the year 1915, the survivor of
the two, to whom under the will the
deceased brothers share reverts.
might easy become that visionary
much-discussed Amer
ica's first biilionaire. II.
When Marshall Field the elder died
asyeatS ago last January estimates of
hiss fortune varied all the way from
$100, 900, 600 to $4,000. 900.
When the executors filed their in
ventory, in the probate court. in
January, 1897, securities all being
listed at their par value, the figures
totaled about $So,0o0,0Oo, and good
financial authorities computed the
actual value at the then market
rates at about $s3.oOo,O00.
Mr.. Fields $4,000 shares of the
stock of the corporation of Marshall
Field & Co., the par value of which
is $3s400,000. for instance, are we'll
known to be worth far more.
Henry Clews in 1905 estimated
the Field estate at 500, 200. 600,
and 1t is argued that it must have
increased since that time to $l25,-
100000. ~
An official Of the Merchants Loan
and Trust company, which instftu-
ton Is one OF the trustees of the res
iduary estate, has recently estimated
the estate at around 500, 000.000
at the time of the testator's death
Deducting from this the $25 900. 900
devised by Mr.. Field in specific be-
quests. the residue would amount to
about SIS. o0o,O butsthis result IL
reached by CON putting securities at
their par value and much OF the
real estate at GonsiderabE less than
its present actual value The same
oficial considered m estimate Of
SIS. 100000 as the annual income
from the residuary estate much too
high, and thought from $4,000. 900
to $40 900. 900 probably nearer the
mark. sa
Opposed to this, estimate may be
cited the big income received from
the $40, 000.O 900 worth of Chicago
real estate and the $4,000, 900 worth
OF real estate in New York City, and
annual increment from which is
known only to the trustees Of the
estate. and, they will not tell. It has
been said that Marshall Field him
self made $4,000 900 a year himself
out Of his dry goods business. This
is guess. but 1T is believed to be
pretty close to the truth. With this
income and the rental of real estate
and other increments. an impartial
outsider might think the annual In
come of $4,000, 900 hone to high.
Without allowing for appreciation
in real estate values or values of
stocks. bonds and other securities
during the thirty-eight years trust
period. ignoring the fact that the
Immense down town aholdings Of
real estate In Chfcago and New
York are bound to grow trefnens
dously in value and earning power
in that period. and coneervatirely
estimating the estate at present At
$4,000. ooU. allowing only an aver
age raksaees interest .onaan property
of per cent, somsounded senisaf-
nuafiy. the total ats tie end ,pfl
thifty-eight years for 3 single al AZ!
woald sbS ~. 4S4a, end FRONT \
100000 would be s70s,e72.sDo.i
Young Marshall Fields three-aftil
share of this would, therefofe,
amount 20 ,425. zls.spo. and Henry