SPENT £25,000 IN TWO YEARS

Shannon News, 25 November 1924, Page 4

SPENT £25,000 IN TWO YEARS

and dies almost penniless.

A man who has just died at Cardiff Royal Infirmary almost penniless, is reputed to have gone through over £50,000 when only 25 years of age. Hs is Mr Nixon Gray, a son of the late Lieut.-Colonel Nixon Gray, and a grand-nephew of the late Mr John Nixon, founder of Nixon’s Navigation Colliery.

The latter died about 25 years ago a millionaire, whilst Lieut.-Colonel Nixon Gray also died a rich man. On his death, Mr Nixon Gray came into a fortune of £60,000, though some of his friends state that the figure was possibly nearer £76,000. Previously he had carried on the business of mining engineer at Merthyr, but lie retired and commenced a life of lavish expenditure. It is said that the bulk of his inheritance had disappeared in two years.

Sporting ventures proved the biggest drain, and it is stated that £30,000 was sunk in the upkeep of a stud farm.

When the crash came, with the assistance of relatives and friends, he settled down to a peaceful life, and latterly he had existed on a few pounds a week.