The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-06-24
fAmerican News serviee)

american News Serviee)
Spokane, Wash, June 24.-William
Huntley, millionaire banker and bon
ANA wheat rancher of Spokane. who
laid the foundation OF his fortune
with a team OF Missouri mules. and
his wife, formerly Emma v. Langford,
then an acknowledged belle of Aud
rain county, Missouri. have just en-
tered into a unique settlement and
agreement for handling their commune
ity property, following Mrs. Huntley's
application in the Spokane county SUI
perior court for divorce, charging
that Huntley was "close' in money
matters with his wife and family.
Huntley will be manager under con-
tract for 20 years at salary. includ-
ing office expenses. not to exceed
So, 900 a year, of the Huntley Invest
ment company, capitalized for $1,20o,-
600 and incorporated in the state of
Washington and Spokane county.
The life of the corporation is so years.
One hundred thousand dollars Of the
capital stock will be issued to Hunt.
ley, the same amount going to Mrs.
Huntley and to each Of their ten chill
dred. Provisions are made against
the division, distribution or dissolu
tiQn of the estate. The first trustees
are William Huntley, Jesse B. Huntley
the eldest son. and Edwin T. Conan
president of the Exchange National
bank of Spokane. friend of the fam
| lily. Other children may become trus
tees as they attain their majority
| The Mechanics Loan and Trust com
pany has been appointed trustee fol
the minor children.
| The revenue from the property
which includes stocks in banks, farms
irrigation plants and mercantile estab
lishments, is to be divided into 1:
equal parts. with the special provision
that Mrs. Huntley's> income shall MOI
be less than $500 a month, for her
self and $1,000 a year for each of the
seven minor children. of which she
will have custody. The three adul
children will each receive one-twelftl
of the earnings. 1t is also provided
that the company shall purchase ;
residence in Spokane for Mrs. Huntle.
at cost not to exceed $4,000 to b.
used by her during her lifetime.
! The corporation agrees to pay al
the debts and assume all the liabilit
les of the community now outstand
ing. In the case of death Of eithe
of the principals or any of the chill
dren during the period of the 20-yea
pooling agreement, the trust agree
ment shall remain undisturbed, tn
, husband or wife to have the individual
privilege of disposing Of their respee
tive interests subject to that agree
ment, the interests Of any child leav
ing a direct descendant or descen
dants passing to such issue. In tn
event of child dying and leaving n
issue the stock set aside will becom
the property of the corporation to b
shared by the remaining members.
The principals expressly Withhold
granting to the child any vested RICH
in the estate and reserve the right t
alter by unanimous agreement tn
terms for its distribution.
Huntley and his wife came to cas-
ern Washington &c years ago fror
Audrain county, Missouri, where the
were married in 1882, and preempte
claim near Endicott. afterward tai
ing up homestead. He first enga,
ed in the horse and live stock bus
ness, in which he was successful an
then became a bonanza wheat farme
} one of his holdings being a ranch {
5000 acres. He was one of the mo:
extensive wheat growers in the Pa
ouse country for years and made
: fortune.
Coming to Spokane in 1902 Huntle
expanded his operations, taking u
l mining and irrigation operations an
= afterward joined with Edwin T. c.
3 man and Lillis F. Smith in the E
National bank Of Spokane, buyin
/