The Marion daily mirror. (Marion, Ohio) 1892-1912, 1910-06-25
NOTION
Of HUNTLEYS
For Management of Their
Community Property to
be Held Together For
Fifty Years.
BY United Press wire.

Spokane, Wash, June 24.--William
Huntley, millionaire banker and
bonanza wheat rancher of Spokane,
who laid the foundation of his for
tune with a team of Missouri mules,
and his wife, formerly Emma W
Langford then an acknowledged belle
of Audrain county, Missouri, have
just entered into an unique settlement
and agreement for handling their
community property, following Mrs
Huntley's application i'm the Spokane
county superior court for divorce,
charging that Huntley was "close" in
money matters with his wife and fam
ily.
Huntley will be manager under
contract for 20 years at a salary, in
Guiding office expenses, not to ex-
ceed $4,000 year, of the Huntley
Investment company, capitalized for
S1,200,000 and incorporated i'm the
state of Washington and Spokane
county. The life Of the corporation is
80 years one hundred thousand
dollars Of the capital stock will be
| issued to Huntley. the same amount
going to Mrs Huntley and to each Of
| their ten children. Provisions are
| made against the division, distribu-
| tion or dissolution Of the estate. The
| first trustees are william Huntley,
| Jesse B. Huntley, the eldest son, and
| Edwin r. Conan, president of the Ex-
| change National Bank of Spokane, a
| friend of the family. other children
may become trustees as they attain
their majority The Mechanics Loan
& Trust company has been appointed
| Irt ha M al
The revenue from the property,
which includes stocks in banks. farms,
irrigation plants and mercantile es-
Establishments, is to be divided into IL
equal parts, with the special provision
that Mrs. Huntleys income shall not
be less that $500 a month for herself
land $1,000 a year for each of the
seven minor children, of which she
Twin have custody. The three adult
lchildren will each receive one-twelrth
Of the earnings. II Is also provided
that the company shall purchase q
residence in Spokane for Mrs. Hunt
ley at a cost not to exceed SIS, 900, to
be used by her during her lifetime.
The corporation agrees to pay all
the debts and assume all the liabil-
lities of the community now outstand-
ing. In the case of death of either
of the principals or any of the chill
dren during the period of the 20-year
pooling agreement, the trust agree
ment shall remain undisturbed, the
husband or wife to have the indiyidu-
al privilege of dispOsing of their re-
spective interests subject to that
agreement, theinterests of any child
leaving a direct descendant or des-
cendants passing to such issue. In
the event Of a child dying and leav-
ing no issue the stock set aside will
become the property Of the corpora
tion to be shared by the remaining
members.
The principals expressly withheld
granting to the child any vested right
IN the estate and reserve the right tO
alter by unanimous agreement the
terms for its distribution.
Huntley and his wife came to east
ern Washington 20 years ago from
Audrain county, Missouri, where they
were married I'm 1882, and pre-empted
a claim near EndiCOtt, afterward taxi
ing up a homestead. He first engaged
in the horse and livestock business
I'm which he was successful, and then
, became a bonanza wheat farmer one
Of his holdings being a ranch Of 5000
acres. He was one of the most OK
tensve wheat growers I'm the Palauco
country for years ANA made for
tune.
Coming to Spokane in 1902 HuntlCy
expanded his operations, taking up
mining and irrigation operations and
Iafterward joined with Edwin r. Co
man and Lillis +. Smith in the EN-
change National Bank Of Spokane.
buying Charles Sweeney's interest
(which gave the trio control of the
l$1,O0O,000 concern. He also owns a
number of town and millstes i'm va
riOus parts of the Inland Empire,
| Twelve children We're born to Mr.
and Mrs. Huntley Ten are living.
one of the daughters, Grace Lorena,
Is the wife of Ira Hunt of Spokane,
the other children living with Mrs.
Humtley. They are: Jesse Blaine,
Mabel Frances, Carl Raymond, ~
years; Lawrence Plat, II years; Eu.
nice Leta, II years; Elva Dean, IS
years; Emma Lilly, 10 years, Ralph
William, years, ana Clarke Valen-
| tine years of age.
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