After long study of income tax reports and with the discretion of his office, Joseph S. McCoy, Treasury Department actuary, remarked* last week that in the U. S. there are 74 individuals whose 1924 incomes were each more than $1,000,000 (the aggregate of the 72 was $154,852,709, an average of more than $2,000,000); that there are now 11,000 whose capital exceeds $1,000,000; that one U. S. taxpayer is a billionaire. He would tell no name.
Many presumed that Henry Ford was the billionaire. Not so Columnist Arthur Brisbane, who said: "This refers, perhaps, to Mr. Rockefeller, and he doesn't know how much...
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