The Washington herald., 1919-05-15
FORTUNE GAME
FROM FORESIGHT
Henry M. Flagler Saw Op-
portunity and Grasped
1t, Says Holland.

heh John H. Flagler, some tnlrty
years ago. persuaded his cousin.
Henry NJ. Flagler. to make an ex-
cursion to Florida chiefly for the pur-
pose Of rest. OF which Henry Flasler
was IN need. and for recreation. the
cousin first visited St. Augustine,
Henry NJ Flagier went to Florida
rather reluctantly.
Had he not been in need of a few
weeks rest so that he might recup-
crate. his cousin could not have per-
suaded him to make the journey.
aut Of that chance sojourn for a
short time in Eiorida grew an invest
ment which. according to the Ken
lucky authorities. Is now OF the money
value Of sl07. .aooooO.
Henry NJ. Flaglsr had not been long
IN ST Augustine before his mipd,
which was always more or less oc-
cnpied in the attempt to discover op-
portunities. said to his cousin that he
believed that very great opportunities
could be found in Florida and that he
would undertake to take advantage of
them.
ATTEMPTED 10 DiseouraEe.
Almost all Mr.. Flaglsr's friends at
tempted to dissuade him. His purpose
70 build a railroad running along the
East Coast of Florida and over the
coral Keys to Key West was regarded
as chimericaL
Some of Mr.. FIagler's business
friends wondered whether there was
not some impairment OF his brilliant
intellectual quality which caused him
to lose his good Judgment and, to be-
come visionary
Mr.. Flagler did not rely upon the
railroad for profitable Investment. ex-
ceptng as the railroad might be an
accessory in the great development
OF the heretofore neglected resources
of Florida.
He was certain that Florida could
be so well developed as to become a
highly attractive winter resort. and he
invested millions in full faith that that
view was correct.
Were he alive now. he would dis
cover that whatever may be the esti-
mate Of the administrator of the estate
as to its money value. nevertheless
the State of Kentucky. after careful
Investigation Of the value of the land.
the railroad and the hotels in which
Mr. Flagler's money was invested,
finds that it has the money value of
100000 eco.
The greater part of Mr.. FIagIer's
estate passed by bequest to his
widow. She died nearly two years
ago. and bequeathed property of the
estimated value of $4,000. ZOO to a
niece who was the nearest of Kin.
Mr.. Flagler is understood to have
invested in the aggregate between
S4O.Oo0,OOO and s50.OO0.oe0 in his
Florida properties.
True Forecast.
He lived long enough to be able
to say to his once doubling friends
that his properties in Florida had
, appreciated in value because of the
development and investment which
he made in them so that it was a
reasonable estimate that they were
of the money value of ssO,O0O.OO0.
OF course the State of Kentucky
may have been anxious to place as
high an estimate as possible upon
the money value of the estate which
Mr.. Flagler'S widow. who some time
after his death married again. died
possessed of.
Nevertheless the Investigation
was very careful and the disposition
of Kestucky's representatives who
were sent to Florida was evidently
perfectly fair.
Triumphant Nindication.
IL the finding of the Kentucky COM
mission should be sustained then it
car be said that the report is a tri-
umphant vindication of the foresight
of Mr.. Flagler and of his instant ap-
probation of the bountIful opportuai-
ties which were offered to investors
through the development of resources
of Florida
Inquiries which were put to men who
should know say that no record so
far as they know of the value of
the estates. whose properties were
chiefly represented in railroads and
by accessories to raidroad develop
ment. exceeded SIe0. coo. .00O. with the
possible exception of that of Commo-
dore Vanderbilt
One of the Commodore's executors,
fths late Samuel Barton. sometimes
said to his friends that the aggregate
money value Of the Commodore's es-
tate was about $50 0O0.O6O.
The late John 7. Blair is understood
to have accumulated fortune a lit
tie under 800. COZ. 90. chiefly through
railroad investments and promotions.
James ]. Hill accumulated a fortune
estimated at about S7O.OOO.OOO. f. H.
Harriman'S estate was inventoried a
little in excess Of $75. .0a0. 900, much of
the estate being represented by rail-
road property.
In each of these cases the estate
represented large increases in the
market value of railroad stocks, in
creases which were due to the initia-