Blue Chips

Filed in Pittsburgh last week was an inventory of the estate of Andrew Mellon. In 1931 "the greatest Secretary of the Treasury since Hamilton" had an admitted $205,000,000. But he gave $68,000,000 to his children as a 1931 Christmas gift, $35,000,000 to charity, his $50,000,000 art collection to the U. S., vast other sums to favorite Mellon projects like the University of Pittsburgh. At his death only $37,000,000 remained, all of which (except for $180,000 to domestic servants) he willed to his charity outlet, the A. W. Mellon Educational & Charitable Trust.

This last pile consisted of $520,510 in cash, $1,233,748 in miscellaneous notes, $2,000,000 in real estate, $8.264,004 in Government bonds, $24,489.398 in stocks. Mr. Mellon's holdings showed he had a taste for "blue chips." Among his assets:

1,000 shares Coalesced Co. (Mellon family holding company), at upwards of $10,000 a share, worth $10.400,000.

113,625 shares Gulf Oil Corp. (control of whose 12.000,000 shares rests with the Mellons), worth $5,700,000.

50,000 shares Pullman Co., worth $2,200,000.

20,000 shares Pittsburgh Plate Glass, worth $2,200,000.

12,500 shares Virginian Corp. (a holding company for Virginian Railway Co. stock), worth $1,250,000.

1,091 shares Aluminum Co. of America (whose 1,472,625 shares of common are about 30% Mellon family-owned), worth $161,700.

5,709 shares National Union Fire Insurance, worth $716,500.

2,793 shares American Rolling Mill, worth $104,700.

2,100 shares Pan American Airways, worth $135,975.

500 shares Cerro de Pasco Copper, worth $34,750.

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