HUGE FORTUNE

Hokitika Guardian, 1 July 1932, Page 8

HUGE FORTUNE

ESTATE HELD IN CHANCERY. BENEFIT TO NEW ZEALANDERS. CHRISTCHURCH, June 29. In a few days Mr A. J. Pascoe, of Christchurch, <and his wif e will leave Christchurch, and -will return, they ex- 1 pect, in about nine months with rhem share, estimated at roughly £2,000,000, of the Pascoe fortun 6 of £23,000,000 which has been in Chancery in England Tor a number of years. The money was the fortune left by My Pasooe s father’s great uncle in America. Mr Pascoe is not the only one to benefit, for h e pointed but that really the money will be divided among the whore of/ the family. His father and his five brothers and their offspring share in the estate. All except one of his father’s brothers live in- Now Zealand, and one of them, the Rev, William Pascoe, has been in England establishing th 6 family’s claim to the fortune.

Formal notification that the claim has been recognised is in the hands of Mr Pascoe’s Brother in Wellington, according to what he'-said in answer to questions from a reporter to-day. “No, I don’t feel excited' about the possibility of having such -a huge fortune,’’ Mr Pasco e said in answer to a question. a ‘Wie in the family have grown up knowing that the money was coming to us one day, and now we have informed that the ciaim is -established. I am certain we shall get’ the money,’.’ he added. “I have a scheme which will do a great deal for Christchurch—in fact,, it will make the city piud wiT increase my capital as well.) When I get back I shall go into that.”

Mr Pascoe’s rise has been a romantic one, according to what he said, arid it was only the death of two women members of the line that has enabled the money to be inherited by the New Zealand family. His father’s ■ great-uncle in America was a 'bachelor, and left his money to his ong brother, who, however, died before it came along. Four were left in th e family then—two daughters and tulo sons. One of the latter, Mr Pascoe’s grandfather, his father’s -great-uncle, willed that nothing was to go "to the female side of' life line.

All that family now had died, said Mr Pascoe, and only his "family' nbw -van left.

“I expect the legal. costs of getting the money will be big,” said Mr ,Pascoe, “though Tf we hdd not succeeded in our claim we would mot have had to pay. for the investigation by th e lawyer in England. This lawyer did the work for nothing, but now that we are successful'we must have to pay out a lot .in costs.

“I ex»ecfTTiat my'actual share of the fortune Should be about/ two millions. With a sum of money like that one should be able to do some good in the world at any rate.”.