King's Money

It was Toronto's late sage, sprightly Sir William Mulock, who steered William Lyon Mackenzie King into politics. In 1900, he made young Harvardman King his Deputy Minister of Labor. Sir William introduced King to Sir Wilfrid Laurier, thus paved the way for King to become the Liberal Party's leader and Prime Minister after Sir Wilfrid died. Last week old Sir William, dead these two months, reached out a friendly hand again.

Sir William's will, filed for probate, disposed of a $2,500,000 estate with large bequests--$200,000 each to two daughters; $200,000 to Grandson William P. Mulock, Canada's Postmaster General; $80,000 to other kin. To his old protege Canada's Prime Minister, Sir William left $50,000.

Canadian public officials are not well paid, even by Canadian standards. Prime Minister King gets $21,000* ($15.000 as Prime Minister, $4,000 as a member of Parliament, $2,000 in tax-free car allowance). Wartime taxes take a fat slice (an estimated $15,000) of what he does get. Yet Mr. King did not particularly need the Mulock legacy. Few Canadians realize that their Prime Minister is a fairly well-heeled man.

Thrift and Gifts. Until zooming taxes pared actual income, frugal Bachelor King saved hefty chunks from his public pay. He saved even more when, in the years following 1910, he served as an industrial counselor, for fat fees. Aside from his present salary and investments, he has two piddling sources of income. Royalties from his books still trickle in. And on a lake on his 100-acre Kingsmere summer estate, some 15 miles north of Ottawa, the Prime Minister has built a few sturdy cottages, rents them to vacationers.

His most valuable real estate asset also came to him by last will and testament. This is Laurier House, bequeathed in 1921 by Wilfrid Laurier's widow. The Prime Minister uses it as both home and headquarters. A twelve-room, three-story house on Ottawa's Laurier Avenue, it is highceilinged, oak-paneled, about 75 years old. Friends contributed $30,000 for modernization.

*Franklin Roosevelt gets $75,000, has $26,950 left after taxes. Winston Churchill's salary: -L-10,000 ($40,200); his taxes: -L-6,832 ($27,465).

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