The sun., 1916-12-10
s700,000P0LICIE
ON LIFE OF BOLDT
Fortune Of Waldorf Founder
Estimated at $50, 900, 900
to $50, 900, 900.
SON LIKELY TO SUCCEED
"The Junior" Taught Details
Of Hotel Business Under
Eye Of Father.

Conjecture as 10 the amount OF the
fortune lief. BY George C. Boldt. founder
OF the waldorf-Astoria. Is sill a matter
OF guesswork. the estimates Of those
close 10 the hotel man ranging from
$50, 900. 900 to $40. GOO. 900. but nc doubt
remained as to the total OF his life in
surance after the insurance underwriters
Yesterday checked up their reports.
The under writer's reported that Mr..
Boldt had policies a~ggregating about
800. 900. Mr.. Boldt. 1t was known to
his friends, had been buying life insur-
ance systematically during recent years.
scattering his policies among various In
surance firms. 1t was said his total Of
insurance includes more than NIFTY poll
cies In various companies.
Interest in the moun OF insurance
carried By the late John n. Archbold Of
the Standard OIL has been quite as keen.
but In the case of Mr.. Archbold's insur-
ance exact figures are not so easily ar
rived at. Some years ago Mr.. Archbold
insured himself heavily. but he favored
endowment forms. Some OF these poll
cies matured and were paid In cash be-
fore he died. and some time must pass
necessarily before the amount Of his in
surance in force when he died is made
public.
Son Likely 20 Succeed
the disposition of Mr.. Boldt's estate. but
his friends say they have reason for
believing that almost all OF 1t will go
to Mr.. Boldt's son and daughter. George
Boldt. Jr.. and Mrs. Alfred Graham
Miles.
II Is taken for granted in hotel circles
that George Boldt. Jr. will henceforth
he in full charge Of the destinies Of the
Waldorf. the Bellevue-Stratford In phila-
delphia and the other properties left by
his father. the hotels and corporations
being conducted precisely along the well
defined lines laid out by the master
hotel man who dice last week.
With an enterprise such as the Wal
dorf-AStoria. which every year turns
over a business OF more than $4,000. 900.
suddenly put into the hands OF a young
man whose personality and business
ability Is almost unknown outside OF the
hotel. there have been pertinent Ques-
tons asked repeatedly during the last
few days about 1.-The Junior "a the
younger Mr.. Boldt has been known to
the hotel employees for n long time.
When the Junior came TO the Wal
dorf in 1906. a year after he had been
graduated in the engineering course at
Cornell. he knew little about running a
hotel. Immediately there was a change
in the arrangement OF the furniture in
the private Office of George &. Boldt.
One had seen upon entering the Office
only the desk OF Mr.. Boldt. next to the
door OF the small office. But when 1.-THE
Junior came home another desk was
installed just back Of Mr.. Boldt's re-
volving chair. The new desk was for
his son and from that time on Mr.. Boldt
literally had his son at his elbow while
teaching him the hotel business.
Taught Hotel D~usiness.
And at the very beginning the younger
Mr.. Boldt underwent an apprenticeship
that was anything but theoretical. He
was sent to the hotel steward by his
father and vas taught the fne points OF
foods and their choice, the intricacies OF
marketing. AZ early az 80 o'clock,
often at 4 o'clock In the morning. "the
Junior whether he liked II or not. was
out OF bed and visiting the markets.
Then the Waldorf chef, Rene Anjard
took him in hand and taught him the
lore OF the kitchens. Young Mr.. Bold'
then In turn worked as tImekeeper In the
basement and saw that the time clock
was properly appreciated by employees
he was chool In the important ban.
quoting department OF hotel work and In
he arrangement OF social entertainments
When these more or less elementa
lessons had been mastered Mr.. Bold
took his son out Of the below stairs
| regions and brought him to the main
floor. Here he was initiated into the
managerial work OF the establishment
Assistant managers were told by Mr.
Boldt. ST.. to take days off in turn and
enjoy themselves while Mr.. Boldt. Jr.
took the place OF whatever assistant
manager had been excused for the day.
"Trosble A~djaster."
Fol some years young Mr.. Boldt ha.
been the unofficial trouble adjuster" o.
the Waldorf. Every morning there ha'
been placed on his desk a list OF all th'
omplaints made during the previous day
be they complaints by patrons, casua
visitors TO the restaurants. employees OF
by any one else under the hotel roof. II
this work his main concern has been t
follow the plan which was next to a re
llgion with his father-to take II 70
granted that the patron was "alway
right" whether he was or not. and sat
isfy the kicker regardless Of the justic