ROCKEFELLER LEFT £5,000,000

Waikato Times, Volume 121, Issue 20272, 14 August 1937, Page 16 (Supplement)

ROCKEFELLER LEFT £5,000,000

Entire Fortune for His Granddaughter. But State May Take Over Half.

Reputed at the height of his financial fame to bo worth £200,000.000, the late John D. Rockefeller, senior, who died recently, aged 97, left a fortune of £5,000,000. Ilis will reveals that lie left his entire estate on trust to his granddaughter. the Marquess de Cuevas, | who will receive the income tor the | rest of her life. i The State, however, may take threefifths in death duties. According to ! Washington •internal revenue officials, the maximum taxes, amounting to j £.5,022.500, mav he levied if all the The Vlarquosa de Cuevas is the daughter of Mrs Bessie Rockefeller ! \ mist rung and Dr. Charles Augustus ! Armstrong. Her mother died in 190(5, | but her father lives at Fiesole, Italy. I In 1927 she married a Spanish m:\rGeorge do Cuevas. She lives at Lakewood.’ New Jersev. with her two children. John and Elizabeth. The will had three codicils. The made a radical change in the disposition of his estate. | Under the original will the entire

- 1 residuary estate was left in equal shares to the Laura Spellman Rockefeller Memorial and Mr Rockefeller’s i son. John D. Rockefeller, junior. Under the codicil, however, the ons tire residuary estate is left to the j - trustees, who are empowered to pay ; , j the income to the Marquesa d-' Buevas. l* | or one or more of her descendants, or I the Rockefeller Institute for Medical - ] Research. i> j Mr Rockefeller wrote that he ox1, I eluded his other grandchildren under a ! the codicil ‘‘because, when tin* time o I came. I felt it wise to place upon my : children the responsibility of owning ° land administering substantia! sums, i' and for that purpose made large gifts s to them or for them ; my oldest daugh5, tor Bessie—the mother of my grandJ daughter Margaret—was not then livt I Mr Rockefeller named as his exocuo ' tors and trustees his son. John D. j Rockefeller. Mr Bertram Cutler, and 1 e Mr Thomas M. Debevoise. 5. | His comparatively small fortune is [ . j accounted for by his huge gifts 1o ; - t charity in the past 20 years, and the , settlements he m;ule among his sons j o I and relatives, ! I