The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-03-20
ESTATES CROW
Trusteeships- Prove Beneficial
to Heirs of Wealth.
Stock Market Makes Dead
Mems Fortunes Larger.
GOULD WEALTH is DOUBLED
Vanderbilt and Hartman Es-
tateS Worth More Now.
Harriman's Successors Making
Good Showing.

BILE and voluntary trustee agreement
by which the estate of the late Edwin
Hawley is to be kept practically in
tact for the next ten years is an ar
rangement without precedent, at least
when the magnitude of Mr.. Hawley' s
estate is considered. There are vari-
Gus estimates of the money. value of
the estate as it was at the time of Mr..
HawIey's death The heirs are re-
ported to have made a rough estimate
of the money value, fixing it at not
more than ten millions. Some who
knew as much of Mr.. Hawley's affairs
as he permitted anyone to know are
confident that the estate will be found
to have been at the time of Mr.. Haw-
ley's death of the money value of
fifteen millions.
When Mr.. Hawley died the securities
market was not active and quotations
for stocks were, relatively speaking,
low. Since his death there has been
a considerable appreciation, although
how greatly this has affected the
known. 1t may be that the trustees
will meet with an experience SIMILAR
to the one which rejoiced the heirs of
the late G. P. Huntington. At the
time of Mr.. Huntington's death the
securities market quotations were
low. 1t was the common report at the
time that, based upon market quota
lions, his estate did not exceed thirty
after his death there came a great
securities market boom and it was
then the common report that those
who were in charge of the Hunting
ton estate found that there had been
appreciation of the property by as
much as eight million dollars.
OF course, there was no official or
authoritative confirmation of this re-
port, but it was matter of general
knowledge that the appreciation of
security values which began shortly
after Mr.. Huntington's death had in
creased the money value of his estate
by several million dollars.
1t would therefore be a coincidence
in view of the fact that Mr.. Hunting
ton and Mr.. Hawley were very closely
associated in railway undertakings,
and that 1T was under the sponsorship
of Mr.. Huntington that Mr.. Hawley
advanced from relatively subordinate
or inconspicuous post to one of real
authority, if it should now happen that
by reason of recent advances in securi-
ty quotations the Hawley estate should
today inventory at considerably
larger figure than at the time of his
death.
Gould Doesn't Care.
1t has usually been found that the
trusteeing of large estates, especially
if much of the property were in rail-
way securities, has been advantageous
not only to the heirs, but to the public.
Much has been said and written re-
Gently of the passing of George Jay
Gould as a railway power, but some
of Mr.. Gould's intimate friends be-
lieve that the considerable increase of
the Gould fortune through the accu-
mutation of dividends and the appre-
citation of some of the securities has
served to make Mr.. Gould a little in
different to his reputation as a rail
way manager The man who controls
a hundred millions and whose yearly
income is up in the millions is some
Inn n IN
counsel of Commodore Vanderbilt
which took the form of saying to his
son, "It is much easier to make
great fortune than it is to keep it."
which Commodore Vanderbilt left to
his son, William H., which enabled
him to bequeath in equal parts to his
two sons Cornelius and William X
Vanderbilt, practically the entire in
heritance which he received from his
father of approximately a hundred
millions, and at the same time to dis
tribute among all his children in fair
proportions the accommodations which
he himself had been able to gain
through his nursing of the estate be-
queathed to him by his father.
Nursing Great Properties.
1t has been estimated that the divi-
dends and income which the Gould
estate, still under the trusteeship of
George Jay Gould, will receive within
producing investments will double that
estate
Undoubtedly one of the reasons why
the heirS-at-law of Edwin Hawles
have thought it the better part to place
the estate under the control of trtls-
tees is that through such management,
the property may be protected, nursed
and considerably increased within ten
years. Business men have wondered |
whether the trustees already possess |
good information respecting Mr.. HaW~
ley's plans or are in a position to find
out what those plans were, and also !
whether the trustees have the ability |
wisely to handle the property.
1t is for this reason that a good deal |
of discussion respecting the ability and |
e ~