HUGE ESTATES

Hokitika Guardian, 9 January 1929, Page 1

HUGE ESTATES

AMEH[CAN BILLIONAIRES. NEW YORK. Dec. 12. Two billionaires, Payne Whitney and “Fortune” Ryan, died within a week. One was worth £-!U.9oi'M)vft. tlie other £39.000 030. Both were financiers. Whitney was a noted sportsman; he and his wife, to whom he gave his racing string, had many notable winners on the turf, lie was born wealthy and just, went on adding to his wealth. He held at his death half the stock in tin* largest personal holding company ever f-rMi'd in the United States, the Northern Finance Corporation. Curiously, his wealtTi was added to by £5.000.000 during the two days following liis death, by stock owned by him “skyrocketing” on the exchange. Ryan, as a. hoy, came to Baltimore from Virginia and walked the street looking for work. An iinployer asked him what he could do. “Anything.” was his reply. He gave him a lette" to press-copy and he made such a neatjob of !t that a position was given him. Tie married iff.* fiaugbiei' of this his first employer, and. in later years provided for him until his death. Ryan left Ins estranged son a set or sleeve links. This recalled sensational history on the Stock Exchange in 1929. when the son “cornered” n motor corporation stock, and was excelled lmm Wall street. He quarrelled with his father over the latter’s second marriage. Among Whitney's notable bequestwere £5.9011.090 lo an education- • cieuee fund, and C 1.259.099 to the viv York Metropolitan Library. The Milk Ryan’s gilts to charity were made through his wife, mainly to Catholic institutions. He was a Marquis ol the Papal Court, one of only two in the United States.