Crossett Heirs

CROSSETT, RANKIN

Posted By: Rebecca Foster (email)
Date: 2/15/2015 at 13:03:34

Three Daughters of Mr. and Mrs. E.C. Crossett Are Heirs to $2,000,000

THE three children of Mr. and Mrs. E.C. Crossett, former Davenporters, will received the bulk of a $2,000,000 estate left by their grandfather, the late James A. Rankin, a member of the Chicago Board of Trade who died on Feb. 14.

The girls are protected under provisions of the will from proposals of marriage by fortune hunters.

A paragraph of the will, filed Tuesday in Chicago, reads: "The rights and interests of each beneficiary hereunder shall be entirely free from control by any spouse."

The Crossett home in Chicago is at 1200 Lake Shore Drive. They also maintain a home in California. Mr. Crossett is a son of the late E.S. Crossett, one of Davenport's early lumber kings and member of the firm or Renwick, Shaw & Crossett.

The daughters of Mr. and Mrs. Crossett who inherit the bulk of the $2,000,000 estate of their grandfather, are Elizabeth A. Ruth R., and Carolyn C. Crossett. Each receives $100,000 outright and in time, under the provisions of a trust fund, they will get most of the estate. The trust fund provides substantial incomes during their lives to Mr. Rankin's widow and his daughter, Mrs. Crossett.

To a brother and sister, John D. Rankin of Glen Ellyn and Mrs. Margaret Rankin Wiggins of 7052 Yale avenue, the broker left $25,000 each. Two daughters of his sister, Isabel and Margaret Wiggins, are given $5,000 each. A servant, Louise Hegstrom is bequeathed $2,000.

Source: The Davenport Democrat and Leader, Davenport, IA., 22 Mar 1928, p.21.