WEALTH IN AMERICA

Waikato Times, Volume XXXVII, Issue 2978, 15 August 1891, Page 4

WEALTH IN AMERICA

In that land of stupendous enterprise and enormous fortunes, America, a million of money is considered a not unusual competence. What in the States would be considered great wealth, would here or on the Continent be looked upon as bordering on the fabulous. There are a thousand individuals in the United States worth more than 1,000,000d015., whilst a good half dozen can boast of being the owners of 100,000,000d015. (£20,000,000) or more. Statistics, of course, are imperfect, but from reliable sonrceß it is computed that John D. Rockefeller, the President of the Standard Oil Company, has an annual income of £3,000,000, or £8,000 per day. By compounding this income at 6 per cent, semi-annually, it will be seen that at the end of 25 years Mr Rockefeller's fortune would amount to the enormous total of £160,000,000. Wm. Waldorf Aster's income, which is considered even larger, would at the end of a quarter of a century amount to £175,000,000. Compared with these two gentlemen, Jay Gould must feel poor, if not indigent, for he gets but £1,000,000 a year, so that in 25 years' time lie would be worth only £55,000,000. Still, Mr Gould "turns over" hi 3 money so often in speculations that no one can say how much he is really worth.