The Birmingham age-herald., 1917-05-28

I Garfelds administration. converted bonds. Thereafter these bonds were called
 "Windoms."
 JOSEPH H. CHOATES ESTATE
 A few days ago the will of Joseph H. Choate was offered for probate and the statement was made that the value of the property of which he died possessed was in excess of $3,00O,OOo and might amount to as much as S4,O0OOOO
 Within short time three men who were esteemed among the great forces of the American bar and who had practiced TOT SV years or more, passed away. These were Richard Olney of Boston, John G. Johnson of Philadelphia and Joseph H. Choate of New York. Each of these lawyers accumulated, by professional methods which did not greatly differ, for tunes which enabled them, had they so desired to say that their wealth was in excess of $2,0O0000 or $3,0O0,O0O
 None of these lawyers so far as is known ever speculated. All of them made careful investments of their incomes. One or them, MT. Olney. lived in a modest manner, not entertaining much comfor- table in his Boston home fin winter where he met now and then a few intimate friends and in an unpretentiousb home on cape Cod in the summer. His earnings were gained partly by practice in the courts, partly by fees and retainers that came to him as counselor, and in con- siderable measure by his legal fees as trustee for several very large estates.
 MT. Johnson converted considerable part Of his income into pictures, doing that with s great caution and yet with as much courage and wise judgment as characterized MT, Choate and MT. Olney when investing their surplus incomes in various securities.
 Other lawyers have left larger estates than that left by each of these three great lawyers, but they did not gain their entire possessions exclusively from professional practice Some of them se- cured fortunes through associat tion with corporation financing, into which they were admitted, as the saying is "upon the ground floor" The late John E. Par sons left an estate approximately equiv alent to that named by those who brought Mr. Choate's will to the surro- gates court the other day. MT Parsons was fortunate enough to possess a very large professional practice, but it has always been the belief among afs brethern at the bar that at least one- third of his estate was gained through the appreciation in the market value of the certificates of the so-called sugar trust, with which he was paid for his services in organizing that trust.
 Choate, Olney and Johnson were, as lowyers, alike in many respects and in one in particular. Each was man of the highest conception of his responsi- hility to his conscience for honorable and just conduct as a lawyer. The fortunes gained by each of them serves to re- flute an impression which occasionally is expressed that no lawyer can make great fortune without unfairly getting the better of somebody else. Mir. Choate, unlike his former partner in the firm of which William M. Everts was the head, made wise investments in real estate and in securities. MT. Southwayd, the former partner, invested much the greater part of his income and principal in United States and in state bonds, doing that be- cause there was for him perfect sense of security, no concern about taxation, and TO fear of bankruptcy of corporation which might impair or destroy security values.