Monday, Jul. 16, 1928
Widow Minus Mite
That stern, rich shipping tycoon James Lyle Mackay, Viscount Inchcape of Strathnaver, was vexed and mortified when his third daughter, the Hon. Elsie Mackay, set out to fly the Atlantic with one Captain Walter G. R. Hinchliffe (TIME, March 26).
Since the death of Elsie Mackay is now presumed, her father, mother, brother and sisters presented her residual estate of -L-500,000 to the British Exchequer, last week, announcing that they "have no desire to profit from her death."
Captain Hinchliffe's widow and child, now reduced to penury, have appealed in vain for assistance from stern Viscount Inchcape.
The -L-500,000 was presented to the Exchequer on condition that it shall accumulate interest for 50 years and shall then be applied as payment on the public debt of Great Britain which now stands at -L-7,652,687,904.