AMASSED £4,000,000

Bay of Plenty Beacon, Volume 10, Issue 99, 26 February 1947, Page 3

AMASSED £4,000,000

SIDE-STREET TOBACCONIST FOUND OWN WAY IN LONDON A rich man’s second son, who was “cut off’ with little more than the traditional shilling, has left- a fortune estimated at about £4,000,000. Mr William J. Yapp’s name never appeared in “Who’s Who” or the newspapers in his 84 years, and he was mentioned only in two-line paragraphs in the usual commercial reference books.

He was a director of only one company—Carreras. Before he was taken ill he lived at Beech Hurst, Haywards Heath, Sussex, and he died in a nursing home at Tunbridge Wells in January.

Now it has been announced that his executors have been obliged to sell £2,500,000 of Mr Yapp’s “B” Shares in Carreras to pay death duties.

The story of this man and his millions was told by a relative, Mr H. A. Yapp, of Oakfield-road, Wimbledon, S.W., London. He said: “William was second son of Peter Yapp, court shoemaker, of Sloane-street, S.W., whose forebears were makers of ladies’ footwear to George 111. and George IV. It was a family tradition that the eldest son should inherit the business, and young William had to find his own way in the world.

“While brother George and sister Annie carried on the prosperous Sloane-street business, William invested his small inheritance in an obscure tobacconist’s shop off Knightsbridge, in the same neighbourhood.

“It was called Carreras, and made up tobacco on the premises called Craven or Black Cat. He also did a brisk business in snuff.

“One day prospering William Yapp chanced to meet a young man from America, Bernhard Baron. He learned that Baron had a patent cigarette-making machine which he was trying to persuade somebody to take up. “That was the start of a successful partnership.”