Zurich Herald, 1951-03-15, Page 7Bing Sang A Million Fortune
Broke in 6 Months If He Stopped
By ERSKINE JOI-{1420N
HO LI. WOOD., ---The fortune
built in 20 years. by Bing Crosby
from starring roles in 43 movies,
radio programmes, the sale of leu
million phonograph records a year
attct shrewd investments has been
estimated as high as $5,000,000.
His actual worth clown to the
last L irtcoln head, may never be
made public,
ITis income in 1931 will be close
to $1,000,000.
:But the Meanie tax he pays once
prompted loop :Tope to crack:
"Crosby just asks Uncle Sam
how nmclt he needs."
That 90 per cent or more tax
rap in 1940 for eeatltple, was a
staggering $377,000.
He is reputed to have earned,
from all sources, $12,000,000 in the
17 years from 1933 to 1950, He •
has been a' big wage earner for
20 years but only nine of those
years were the dear dead days of
low taxes.
a•
.About Crosby's hush-husdi for-
tune and complicated capital gains
Crosby Investment Corp., formed
in 1942 hut which still keeps him
in a logit (about 82 per cent) in-
come tax bracket,• you have to take
brother Larry's word for it:
Says Larry:
"Bing is worth about $1,000,000
and that's ziot ail in cash, He's
always behind the eight ball on
income tax, if he stopped working
tomorrow—tile way he and Dixie
and the four boy, live -he'd be
broke in six months."
Bing says about his eventual
retirenzeut:
"I'll quit as soon as 1 can get
financially independent which al azn
not. I'm certainly not going to work
any longer titan T have to. Besides,
f believe in what George M. Cobalt
once told nue, 1-te said:
"'Don't stay on too long. Leave
when you ran stilt hear the ap-
plause,"'
:Chat's the only direct financial
word you cats get from the 'Crosby
Ft. Knox except for a rough break-
down of Bing's animal personal
income—two Paramount motion -
pictures at $150,000 each, $400,000
a year from record royalties and
$195,000 from his weekly radio
programme.
Only the Crosby clan, the book
experts and Uncle Sam know his
annual income from itivestme.nts,
annuities and tali -exempt securities
—and they're not talking, Crosby
pays a tax expert $36,000 a year;
Uncle San's snoopers spend two
months a year going over his books,
In 1945 Bing"sold his interest in
his Del Mar, Calif., horse racing
track for $481,000, It was rumored
most of this went for back income
taxes,
He's a 16 per cent owner of the
Pittsburgh Pirates baseball team,
which cost hits $215,000, owns stock
in the Hollywood Stars baseball
team, and another ball club in
:Billings, Mont. The Crosby Invest-
ment Cot'p. has .produced two mo-
tion pictures. "The Great John L.."
and "Abie e Trish Rose," which was
a flop.
As Binge business manager, Ev-
erett Crosby drains a salary of about
$50,000 a year. Until his death sev-
eral months ago, "Pop" Crosby
arrived daily for "work" at the
office at 10 tent,. left promptly at
noon,
The name of Bing Crosby ap-
pears on many commodities, from
frozen orauge juice to a filmed
television series, "Fireside Theatre."
There are big trust funds for
Crosby's four sons --Gary, who will
be 18 in June; Phillip and 'Dennis,
the twins, who will be 17 in July:
1
and Lindsay, who was 13 on Tan. 5.
Lately the boys have been sing-
ing With Bing on records and on
his air show, "to pick up a little
chane." But there are no $100 bills
sticking out of the boys' blue jeans,
Gary, for example, spent one sunt -
mer picking thistles on the Crosby
Nevada ranch at J. a day.
The ranch, G0 utiles from Elko,
Nev.--where Bing is honorary
mayor --is a 25,000 acre layout on
which Crosby runs 2,000 head of
cattle for profit, shoots deer and
pheasant for fun and sings by a
camp fire to "get away from it a11."
The Crosl,ys seldom entertain ha
Hollywood style but e,pensee are
heavy, •
*
There are salaries for employees
of the Crosby Investment Corp.
'.There's the cost of raising and
educating the four boys—all attend-
ed St.- John's Military Academy ie
.Los Angeles. before their entrance
into the 13ellerman Jesuit 'Boarding
'School at San jose, Calif, And
'there's the • maintenance of four
homes—a 17 -room Colonial man-
sion in Brentwood, Calif., a horse
at Carmel, Calif. (Bing's favotu•ite
golf course is nearby), the Nevada
ranch operation and a .fishing shack
in :Idaho.
Fifteen per cent of Bing', yearly
income goes to charity,
He is an active Catholic and, as
Larry recalls, ".T never realized so
many churches needed financial sup-
port until 'Bing made `Going My
Way.'" For six years all the profits
of Bing's recording of "Silent
Night" went to various religious
charities ---alt estimated $250,000.
And there's the Crosby Research
Foundation to encourage inventors
and scientists in their work,
According to legend, Bing has
the- Midas touch, just can't lose
on any kind of an inveetineni. He
Crippled But Still Game --This picture shows one of the cerebral palsy patients of the Ontario
Society for Crippled Children. The picture was taken at Variety Village, Toronto, whence
cerebral palsy patients are transferred from \Voodedeii, London, during the stunner• months,
- 'l'he Society's annual Easter Seals campaign for'funds is February 25 to March 25.
told nue:
`I've lost plenty of money on
oil wells and race horses. I'd hate
to tell you what we lost producing
`Abie's Trish Rose.' There was a
tidy little $200,000 written in red
ink in a three-year drouth on a
cattle ranch at Los Banos, Calif.
I've bad my share of turkeys iu
a lot of things ---including a turkey
ranch. They all died."
(End of a series.)
Bon Vivant — Arriving in New York for a visit -in :1949, Bing
kisses Mrs, Crosby — the former Dixie Lee — for the cameras.
Modern Etiquette
By Roberta Len
Q, Should a business ratan rise
when a woman visitor enters his
office?
A. Busy though he might he, the
tan can certainly *afi:ord the cour-
tesy of rising wtteu a woman visitor
eaters his office. He does not rise,
however, if the woman is an em-
ployee of his company.
Q. Is it proper, when dining in
a public place, to wipe off the
eating utensils with the napkin?
A,:Never•! 12 one notices that
the utensils are not perfectly clean,
one should always call the atten-
tion of the waiter to this and have
them exchanged for clean ones,
.k t: :I,
Q. Is a man riding in an elevator
with 'women expected to remove his
hat?
A. Only in hotel or <tpartnteut
bttildiug elevators.
33,
•
v HAROLD
ARP TT
CEEERRY` TTE REND •A CHERRY
PITThR FROM ABOUT 20"OF COAT HANGER WIRE.
SILUN E111 N W'AND Ls~CROSSS ohl NOTCR OUTHES,
/**.
Q. Would it be all right for a
hostess to cancel an evening of
bridge if she finds out an hour
or so beforehand that one of her
guests .cannot come?
A. No, this would be inconsider-
ate to the other guests who have
already made artangenaents to at-
tend. She should try her best to
find a substitute, and if she falls
in this, suggest a • game of pearls, _
rummy, canasta, or some other en-
tertainment,
Q. When a dinner guest finds
at dessert time that he already has
eaten too much, should he apolo-
gize and refuse the dessert?
A. Never, He would be exhibit-
ing much better manners if he ac-
cepted the dessert and at least made
some effort to eat some of 11.
t: '1
Q. Is it necessary for the .hostess
of a house-warming to write "thank
you" notes for alt gifts brought
by the guests?
A. Yes. it would be rude and
unappreciative not to de so.
* 4 '1
Q. What would be an appropriate
letter of appreciation to write to a.
good friend who was very thought-
ful at the time of one's bereave.
ment?
A. ,lust be very simple and sin-
cere, as, "Wheu Mother passed
away, yon were very kind, Mrs.
Berms, and f want to thank you.
Come to see nip when yon find
1If 15,''
e: t:
Q. What is a suitable tip to give
a bellboy for paging you in a hotel?
A. Trifieett to tlsenty-ti'. : outs
eh0uld be enough.
THE CAMFRONT
J o 'Qu.S 'ell.
"1 tow to Write Your Will" isn't
the most cheerful subject in the
world, 1 know. Still, it's far better
to fare the facts, and have your af-
fair's in proper order in good time
than ,to regret having neglected
doing so when it's too late. I don't
know if folks out in the rural dis-
tricts are more negligent in this
.regard thtaa city people. But I do
know of plenty of farm families
that have been broken up and turn-
ed into bitter enemies just because
of no will, or of a will that wasn't
clearly made,
•
So, with no further apologies, 1`m
passing along to you some valuable
hints from a well known authority,
t:
'Otte•eof tie•basic` principles of
our :social' systems—he says—is
that a man or woman,is privileged
to state how he or she wishes to
dispose of money or property ac-
cuntolated in his or her lifetime. It
E is one historic right we still possess
-- the right to direct how our
properties shall be divided after
our death. It must be kept in mind,
of course, that the tax collector
is -'not idle in this particular field.
Before an estate can pass from the
deceased to the object of Itis
bounty, the Government steps in to
claim its share in the forth of
Succession Duties, However, and.
Succession duties notwithstanding.
we still have the right—and the
duty to make our wills.
4' .4: e
-If a man or woman dies with-
out a will—he goes on to state---
tlte authorities and relatives Marc
great difficulty in determining
where property and assets are to
go:' Various legislation concerning
50911 instances exists in each Cana-
dian province, Where no relatives
can be found, usually the Crown
takes over all the assets—as may
be done in the case of a waiter
who, on his death, left an estate
valued at over $17,000. No will
has been found. and if no relative.,
t
appear. so claim the money, it twill
be• turned over to the (:'rovernnte'lf.
l't:u Much ltnportattce ca111lu1
laid on the ueceesity, ill making a
will;, of usiug l,lain, etraiglttforwarct
language, itt order to avoid rom-
plaiti.ts' fa•otn relatives who believe
that they have not been fairly
treated, and who are likely to rot. -
test the will or have it set aside 1
completely. "In writing a will, use.
pen, int; and paper. Have the cont-
pleted document witnessed by two
people who a.re not mentioned in
it. It is also beet to appoint an 1
exectltnr."
The legal aspeet, 01 tnakiug a
will are paramount and retainit,a
the service, of a lawyer is recons-
attended. However. there are penial:'
who neglect their wills simply be.
ca+' e they tend, that they are I
t,11i i,,.r.V 'n ti-:' a la wyet'. C)I; the
contrary, there is no law to pre-
vent you doing the job yourself. ,
If you use ordinary, reasonable
English, tate Courts will try to
carry ottt your intention', even
though your language is that of an
amateur rather than that of a pro-
fessioilal. •As far as the require-
ments are concerned details of a
will made without ttse of legal
phraseology should be stated sim-
ply as possible and—as said before
—must be witnessed by two per-
sons who derive no benefit from it,
and should include the name of at
least one executor, to carry out
its provisions. .
„R
Which, I think, should be sulfa-
cient about wills and the like for
the time being.
Now for something that I hope
will be of interest and value to
those of you who go in for alfalfa,
and are tempted to keep certain
...fields close to. your 'house in that -
crop nearly all the time. There's no
doubt that this practice is con•veaal,
ent for both hay and pasture—but
`it may cost you considerable in
crop leads.
M *
Alfalfa takes a lot of water from
the soil. Continuous alfalfa is lfab
to result in short alfalfa crops and
also—if you plow it under. and plant
corn—in burned corn. This has been
fully proved by both experimental
station work and by farmers' actual
experience.
. e ::
Accardiug to one University ex,
pert it takes about 800 tons of water
to stake a ton of alfalfa hay, while
et Her
g it!
'.Chitt
lightweight
alutninunt
boat, displayed
at recent Boat.
Show was
lifted intc'
prominence l'
lovely Rita
t.yncl . gttcel
of lIn' show.
Weighing only
48 pounds, tiie
craft .i ideal
for hunting,
fishing. racrtt
and those
fantil}
camping. trill,
that find
hubby tot.'
tired to iiiakr
a portage bin
the little
ttitlnl,'lll fresh
Citi a daisy.
only 330 lou- of water are needed
to snake a to of coral crop. J r ;a;ttb
speaking particularly of central Ne-
braska, where lie says that. five to
seven years of alfalfa will remove
all the available rnoistnre to a depth
of 30 to 40 feet --a moisture deft,
cleney that will not be restored in
one man's natural lifetime under
natural rainfall and ordinary crop-
ping, Figures for most of Ontario
would probably not be as large a5
these—but still big enough in he
worthy of attention.
4' 4
Back in the thirties farmers our
Iowa way began wondering why
their second and third crops of al-
falfa were so much smaller than
they .formerly had been. Short
crops showed up particularly on old
alfalfa stands.
,•
Something else happened too,..
The old alfalfa fields started crack-
ing open --occasionally with cracks
wide enough to admit a horse's
leg, making the fields unsafe for
grazing. On some of those old al-
falfa fields the first crop of cora
was a complete failure, and the
second crop greatly below par.
h:
These small crops carne in the
late thirties, when rainfall was re-
covering to normal levels. Old al-
falfa fields were badly hit, while
other fields produced almost normal
crops.
a *
Farmers who dug postholes ia
the burned -up fields quickly found
the reason for crop failures. The
subsoil was bone-dry as the mois-
ture from the surface never "'met”
the moisture irons below.
F %k
So it is well for you to remember
the heavy use of water by alfalfa
when planning your crop rotations,
and here are some suggestions that
may help your crop yields.
* >•
Avoid reseeding alfalfa on upland
fields. This is especially important
when you leave alfalfa down four or
five years --or as long as it wilt
last.
Leave alfalfa for only out or two
years on upland fields—and titaybto
on some level fields as well. And
when the land is seeded again. plate:
some other legume.
*
Give all of your fields a c:l.lauCe 1.4
grow alfalfa. When the water de-
mands of the alfalfa crops are spread
over your entire farm, no fields will
crack open from completely dried
out subsoils.
.1,
Perhaps you're wondering irk sut:ft
a program will pay you for tltg in-
convenience of hauling hay greater
distances and pasturing animals on
the back part of the farm. Perhaps
it wouldn't have •back in the day@
when loose hay was hauled with:
horses. But with modern tractor*,
and balers or choppers', hauling ix
less of a problem now, And as fate
as the animals are concerned•--pige
especially—they may do 14etter etiit
eotmptetely dry ground.
t: v.
Summing it all up, Alfalfa - -12
properly used—is a benefit to yoga'
soil. It supplies organic matter anti
nitrogen. The big roots mala open-
ings in tight subsoils. It only doea
harm when grown too long on lite
same field. especially during deer
periods.
'T
,N HAY!w}rAT"' Ei ;
05 40,144 --'-
Try sLX1iF, tb terriNGHH..�! 4-•�
a<,
THE H035ROpi to
THE GARDEN .?• Now
t•taRp EM Our til,R
PA3ot4r0 ANO Pilr'atin
woo& THEY WONT
Gar our meow
-'4, rHt .c C
YOU ARS. DIP $, C5i
note -04a. ///erteeett
A,vtirist,• Mitt.,.
.r:fia�l' 0 1
i
1 �ti
1`;