New Britain Herald Newspaper, February 19, 1929, Page 19

FVERY 7 Light on the Staggering Fortune That for YearsWill Be Kept a Secret from Them WHITNEY'S DAUGHTER Mrs. Charles Shipman Payson (Jean Whitney), Who Will Inherit One-Fourth of Her Father's Millions. She Ls the Mother of Daniel, Sandra and Payne. Organization, Securities Which Stock. Valee. Erle at 6 American Cigar Pfd. at 109 American Saaff Pfd. Am. Tel. & Tel. at 187. Am. Tel. & Tel. Common WHITNEY'S PERSONAL STOCK HOLDINGS * (Price quotations appear only on listed stecks.) Ligwets & Meyers Tob. Os. B. a4 8) n.:fi 507,800 283,407 T1.040 8,175,000 American Sauff at 208 - leld OMl .... . 's Heirs Orow r\ TICK, TOCK! CENTS, DOLLARS! THOUSANDS—MILLIONS! Every Swing of the Pendulum Makes Young Daniel Paysen 92 Conts . This Means $88.! 3 $ 3,333 an Hour $ 80,000 & Day $560,000 a Week Twenty-nine Millien Dollars & Year! WHITNEY BONDS Their Income and Profits for the Hoeirs Since the Will Was Made: §35,000 Now Tork Btate ¢o.. 5.000 Now York State (%o, 85000 New York State (¥s.. 250,000 Now Yerk City 8,060,000 New York City ¢Y%s 6,000,000 New York Oty ¢%s.. $0.000 Miscollanosus ..... 98,143 p, / 4 THE LATE PAYNE WHITNEY This Is Payne Whitney, Grandfather of the Three Lucky Children, as He Looked Shertly Before His Death. i gragas ‘F!,p #i ANIEL and Sandra and Payne Whitney Payson are three tots aged three and two and one, re- spectively. Although they don’t know about it yet, something happened to them not long ago that makes them three of the most interesting children in the world, Most persons probably would con- sider the Payson children singularly blessed—a few might call them handi- capped by the event which cannot help coloring their whole lives. That event was wealth, no ordinary fortune that might be bequeathed to scions of rich families in a prosperous country, but wealth so vast that it assumes the pro- portions of drama. For Payne Whitney’s almost incred: ible estate of $194,328,514 was news that broke upon, Manhattan’s blase fi- "i!’. LF nancial hub with a shock of headlines. . OO MILLIONAIRE BABIES. Daniel and Payne Whitney Paysen, Whe, with Sister Sandra, Will LUCKY COUPLE The Former Joss Whitaey, with Her Husband, Charles Shipm. Enjoying a Fete in the Gardens of Versailles (Below). Tongues used to glib discourse about millions were touched with awe at men- tion of this appalling sum—one man’s possession. Of course, taxes and public works, friends and relatives, received bequests that made some inroads into Payne Whitney’s millions. But his three in- fant grandchildren, becoming the eventual major heirs, will be, undoubt- edly, the richest young persons by in- heritance in the world, if the present rate of increasing value of the estate continues. Meanwhile Daniel, Sandra and Payne Whitney accompany their nursemaids into the park on bright days, cry over bumped heads and reach out chubby hands for the glit- tering brightness of the world, all un- knowing that vast sums are at work for them night and day, rolling in more dollars, adding new digits to their already fantastic bank balance. Possess the Multiplying Millions That New Pile Up for Them. “Qui &, ours"—who has, will get more—is an old French proverb; there is a similar one in almost eve: language. Never, though, was its trut! more znphiull;ldemnnn!‘nd than in the case of the Whitney millions. About $60,000,000 of the estate went to public institutions, charity and ~friends. The remainder, some $135, 000,000, was divided into four rm Two of these parts were set aside for the widow, Mrs. Helen Hay Whitney, who will receive the income during her life. Income from the other two shares will to a son, John Hay Whitney, unrlln. Charles Shipman Payson, equally. At the mother's death the son, John Hay, and the dnxhur. Mrs. Pxnn. will divide her portion between them, : The thres small grandchildren, how- ever, are the ultimate living heirs, To them will go all of their mother's money—Mrs. Payson at 40 will receive her share out- ngrosst sidelights that amateur finsn ciers who have eud:.d& pencil and paper can un Interest centers, of course, in the three little children upon whom fortune has smiled with cuhdulllnfi brightness. Just what wil this huge wealth mean to them, do to them? To what carry fortunes as they grow to maturity? Rich as they are new, the young Whitney m‘ehfl- dren are growing richer, richer—at the stag rrluf rate of $10,000 an our! This is on & basis youngsters. Little figuring is nrircd to de that $240,- :Oil‘h,n $10,000 an our is, if anything, a con- servative estimate of the M%Mln- Payne tney are growiag Take, flntl the effect of the unparalleled * yug" on the late f(r. it . Whitney estate enj-o.y‘o’d the lollc'la"’ in- Stockholdings . .$40,063,088 oldings ..$40,083, Personal . 6,125,087 Bond interest, in- crease invalus 698,749 Total wn-+...$46,886,92¢ This is at the rate little more than $81,000, a year. § each infant heirs proximately & quarterof this means that their been increasing $90,00 the past year. is growing more valuabl _ BUT—there is interest sidered, and this is a vast estate the size of Whitney’s. total is brought up well around 000 a day for the thres, or $8 000 a year. The effect of so igious amount of money on ‘three chil dren, as yet blissfully unaware of it, is problematical. After all, millions cease to have much meaning in peorle'l lives after they pass the ten or twelve-million mark. Meanwhile, assuming that ft has taken you ten minutes to read these words, the Whitney heirs have $1,666 richer since you first at the page. This is about average young man earns IN A YEAR clerk, bookkesper or accountant. 23 g3 1$ ; 3 2z fEHEE arsithet = 38 $8