The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-07-11
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:. A RICH PRINCE. :.
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| When the Prince of Wales next year
attains his twenty first birthday he
will enter into personal control of the
| revenues of the Duchy of Cornwall.
| which are now being administered for
him by the King, and the accumula-
lions, OF which will represent q nest
egg of over 100000.
From an authoritative financial
source the New York Times learns
| that advantage IL being taken of the
present state of the share markets To
make considerable investments in Sc
| curities which the two trustees of the
Duchy of Cornwall estate consider
bargains at the present prices. These
trustees, who have been inspired and
guided by Lord Revelstoke since King
Georges accession, have already done
very well for the Prince Not very
long ago they purchased $4,000
worth of securities which have appre-
ciated in the last six months in capt.
tai value by l per cent.
Though King George is by no
means on the same close and friendly
relations with prominent and inhuen-
tial persons i'm the financial world as
was his father, King Edward, his ma
jesty has, nevertheless, many sources
open to him through which he can
carry on financial operations under
vastly more favorable conditions than
an ordinary investor, and it is prob
able that the value Of the Prince of
Wales invested capital when IL Is
made over TO him next year will be
considerably over S5,000,000
But though the Prince, on paper,
will then be one of the few millionaire
royalties of Europe, he will not be so
In fact, for he has four brothers who
have practically nothing, and how To
make suitable provision for them has
been an outstanding financial problem
in the royal family for years. There
are only two possible solutions One
is for the younger Princes to marry
heiresses with sufficiently large dow
ries, and the other is for the Prince
of Wales, who is rich beyond all COM
parison with his brothers, to make
provision for them.
For the present n middle way be-
tween these two courses is to be
found by settling a sufficient amount
or the Princes real estate on Prince
Albert and Prince Henry to bring in
to each of them an income of $75,-
900 a year, and as each will have an
allowance from the state of similar
sum on attaining his majority, this
arrangement will provide for each of
the two younger Princes an income of
$150,000 per annum.
The problem of providing for Prince
George and Prince John. who are still
very young, is not of immediate urg-
ency and much may happen before
they come of age.
The Prince of Wales will of course
have to marry into royal house. and.
with the exception of the Cars
Princess Maud of Fife, and
one or two others, none of whom is
likely to become Princess of Wales.
there is no great heiress available for
the Prince. AS soon, however. as he
Is married and his marriage has re-
suited in providing two or three pos
sible successors to the throne with
incomes, there will be no special or
urgent necessity for all the younger
Princes to look for wives only among
The daughters Of royal houses.
This is a matter that is being delib-
erately considered by the English roy
al family, even at the present moment.
King George and Queen Mary are not
Obvious to the paucity of well-dow-
cred Processes Of the ages of their
younger sons, or of the fact that by
he time the Princes reach marriage
lble age there are likely. to be heiress-
IS who are daughters or granddaugh-
ters of men who built up fortunes by
Industrial activity.
The possibilities opened out by these
have been a subject of
'ecent conversations I'm the royal
In which 1t was suggested
hat descendants OF an American rail-
Dad magnate or a German chemical
king" might one day sit on the Eng
ish throne-''if there is still an Eng
ish throne then" added much dar-
ng .courtier. soto voce-London Let
or IN rt. e. H.l