The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1950-08-17
RED DRIVE BATTERS CLOSE TO TAEGl
F|FTY-TW0 ARE NAMED
BENEFI(IARIES IN WILL
OF AUSTIN E. LATHR0p

TA1llDhlNIAO, AtdShd, aug. l =
R-Fifty-two relatives, employees,
business associates and hospital and
educational organizations were
named residuary beneficiaries today
of the estate of Captain Austin E.
Lathrop, pioneer Alaska business
man killed in an accident at his
coal mien at Suntrana July 26.
The petition for probate of the
will. filed at Fairbanks today, said
simply that the estate was valued
''in excess of $500,O00." Outside
sources have estimated, however,
that the estate might run from So
100000 to 100000.
In addition to the beneficiaries,
which included the Providence Hos
pital at Anchorage. ST. Joseph's
Hospital at Fairbanks, and the
University of Alaska, cash requests
were left to more than 100 en-
ployees, friends and churches.
The will provided that Captain
Lathrop's vast interest, built up in
the 81 years since he came to the
Pacific northwest and Alaska,
should continue to operate under a
trusteeship known as 1.-The Lathrop
Trust" for a period Of five years
after the residue of the estate is
distributed to the trustees by the
executors.
These interests include the Lath-
rop Co. of Anchorage, Fairbanks
and Cordova, which directed motion
picture and other interests; the
Tanana Publishing Co. of Fairbanks,
which publishes the Fairbanks News
Miner; the Midnight Sun Broad
casting Co. of Fairbanks, which OPP
crates station KFAR at Fairbanks
and KEN at Anchorage. the Healy
River Coal Corporation of Sun
trana. the Cordova Commercial
Company of Cordova and the First
Bank of Cordova.
On termination of the trust, the
residue of the estate will be dis
tributed to the residuary beneficiar-
les.
Lathrop, who started with nothing
to become one of Alaska's richest
men, left two types of bequests-
stock in the Lathrop Co. and cash
xryoc ocfiv,,o OF nf
the value of the individual shares
Of the Lathrop Co. stock which was
willed to the SO residuary bene-
ficiaries, which include the two
hospitals and the University of
Alaska. The requests varied from
five shares to 200 shares.
Scholarship Fund
The University of Alaska was
willed 100 shares of stock. with the
request that the board of regents
set up a fund to be known as, the
"Lathrop Scholarship Fund" The
principal is to be kept intact and
the income to be used to provide
free scholarships to residents of
the Territory.
Among the larger requests in
stock we're 200 shares to Mr.. and
Mrs. Austin G. Cooley. of New York,
nephew; ITS shares to Zoe Cooley
Green, Kent, Wash, a niece; $50
shares to Mrs. Cleo Boyce, Seattle, a
stepdaughter; $50 shares to Mr.. and
Mrs. Frank Eugene Richards,
klamath Falls, Ore, a nephew, and
$50 shares each to Miss Miriam
Dickey, secretary of the Lathrop
Co. and for many years Lathrop's
personal secretary, Sydney c. Ray
nor, Anchorage and Harry j. Hill,
Anchorage.
Twenty shares were willed each to
st. Joseph's Hospital of Fairbanks
and the Providence Hospital of An
chorage, operated by the Sisters OF
Charity of the House of Providence.
Among the cash requests were
Sc, 900 to be divided among the Or
ganized churches, religious organi-
cations and congregations in Fair
banks, and $1,000 to organized
churches, religious organizations
and congregations in Anchorage.
Lathrop also bequeathed $1,000
each to the Roman Catholic Church
(CoELinued on Page Six