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Left. By Horace H. Rackham, Detroit attorney who invested $5,000 in Ford Motor Co., sold out 16 years later for $12,500,000 (TIME. June 26): a fund of some $30,000,000 to be expended within 25 years for "such benevolent, charitable, educational, scientific, religious and public purposes as, in the judgment of the trustees, will promote the health, welfare, happiness, education, training and development of men, women and children, particularly the sick, aged, young, erring, poor, crippled, helpless, handicapped, unfortunate and underprivileged, regardless of race, color, religion or station, primarily in Michigan and elsewhere in the world."
By Mrs. Charlotte Smith: $1,144,972 to her daughter Mary Pickford, "because whatever property I am possessed at the time of my death has come to me through my association with my said beloved daughter in her business and through her most unusual generosity to me."
Birthdays. James John ("Jimmy") Walker, 52; Edward of Wales, 39.
Died. Captain Mariano Barberan and Lieut. Joaquin Collar, Spanish airmen who made a 4,500-mi. nonstop flight from Seville to Camaguey, Cuba (TIME, June 19). Missing since they left Havana for Mexico City, their bodies were found near Laguna Machona in southern Mexico.
Died. Clarence Herbert Venner, 77, famed sue-&-settle man; of pneumonia; in Manhattan. No. 1 bogeyman of large U. S. corporations, he would first buy up a few shares of a company's stock, then plough through charters, bylaws, reorganization plans, statutes. If the company, informed of the legal weeds he usually turned up, chose to buy Old Man Vernier's stock at his own price, the matter was dropped. If not he would let loose a flock of damaging circulars, scuttle to court to plead the cause of a downtrodden minority stockholder. August Belmont once stated on a witness stand that James Jerome Hill's Great Northern R. R. had paid Old Man Venner between $1,000,000 and $2,000,000.