Frugal Man Leaves Behind Large Bequest

Ten years ago, Ruth Marx knitted a hat for Ronald Read because she thought he could use some help making it through the winter.  Marx recalls Read being cautious with his money; and at one point, saw him looking for downed wood on a parcel of land where his family once lived. 

When Read died June 2, 2014 at the age of 92, he had stock holdings and property valued at almost $8 million, most of which was left to Brattleboro Memorial Hospital and Brooks Memorial Library.  “People were stunned that he had that much money,” Marx said.  “I bought some old fence wiring from him once because I thought he could use the money.” 

Read was a quiet and private man, not one to flaunt his wealth.  Read’s attorney said he enjoyed picking stocks and “over time these investments grew substantially.”  Read’s unrestricted gift of $1.2 million is the largest single bequest the Brooks Memorial Library has ever received and will bolster the library’s endowment.  Brattleboro Memorial Hospital received $4.8 million from Read’s estate, and like the Brooks Library, is the largest gift the hospital has ever received. 

See Howard Weiss-Tisman, Frugal Benefactor Leaves Millions to Brattleboro Memorial Hospital and Brooks Memorial Library, Brattleboro Reformer News, Feb. 5, 2015.

Special thanks to Alyssa York (Texas Tech University School of Law) for bringing this article to my attention.