The Birmingham age-herald., 1914-07-28

make yearly distribution on Christmas Day to those who were akin to him. Some years ago he said to a friend that he began years earlier to divide his yearly income into three separate fortunes. One tfird he retained. one-third was given to one of his children and one-third to an otter. He is also understood to have made very. large gifts out of his principal and theer is good reason for surmising that the state authorities may have learned at least inferentially, that the gross estate of s360o0.000 represented not more than one-third of the total fortune accumulated by MT. Mills. Upon this es- timate he would be ranked with five or six men who have accumulated the largest five or six American fortunes.
 One Way of Estimating
 There were possessions which MT. Mills was known to have held the ownership of which does not appear in this sched- ule of his estate These were presumably given at one time or another outright and for consideration of affection and esteem. One conspicuous example will serve to illustrate this. MT. Mills was persuaded many years ago to buy in as- sociation with Cyrus Mccormick and San Francisco capitalist of the name of Proctor controlling interest in lead mine in Idaho. MT. Mills investment in this mine was considerably in excess of 3l,uuVuuV.l 0t lnNtsllIcbt was SHE uidily fortunate. The mine became famous as one of the greatest lead producing mines in the world. It earned dividends for years equivalent to 200 per cent upon the capital. MT Mills total returns from his mine must have been very large, yet there is no mention of it made in the inventory of his estate and there are good reasons for inferring that it was on eof the prop critics which he gave to those who were near to him, perhaps some years before his death. Almost all his mining ven lures were very successful.
 The Influence of Characters
 It was due to Mir Mills that the interest of men of capital of New York in mining properties was secured some % years ago. There had been so mhny either unfortu- nate or mistaken mining ventures and there had also been so many offerings of this kind that were saturated with fraud that it became practically impossi- ble to interest New York capital in any mining proposition.
 After Mir. Mills came to New York to live and had thoroughly confirmed here the high reputation which he had gained in California; both as business man and as man of strict integrity, 1t be- gan to be perceived that not all of those who were engaged in mining ventures and who came to New York 10 interest others werernen of whom it was expedient to be a little shy. Mr. Mills successes in his mining ventures and the fact that these had been obtain,d without deviat- | ing from the highest code of morals led to renewed interest on the part of New York capital in the development of mines. After awhile 1t was said that to MT. l Mills more than to any other man in the | United States was due the large invest | ment made by New York men of capital in mining properties, some of whom are i; now recognized among the leading | mining capitalists in the world.
 These facts were not disclosed by the | report of the transfer tax appraiser which fixed MT. Mills gross estate at s36000, 0C0. | But it was in part because of investiga- | tions made by the appraiser that it has been possible to obtain the knowledge that MT. Mills in his long career accumu- | lated one of the greatest American for | tunes. more than half of which he gave away.