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"Hunt, W. H"
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PART II: OBITUARY OF EMINENT PERSONS DECEASED IN 1915
1915
JANUARY (pg. 131-135). FEBRUARY (pg. 135-139). MARCH (pg. 139-144). APRIL (pg. 144-149). MAY (pg. 149-153). JUNE (pg. 153-156). JULY (pg. 156-159). AUGUST (pg. 159-162). SEPTEMBER (pg. 162-167). OCTOBER (pg. 167-172). NOVEMBER (pg. 172-174). DECEMBER (pg. 174-178).
Book Chapter
DESPITE SETBACKS, A STILL-LARGER-THAN-LIFE TEXAS FAMILY
1986
[Forbes] estimated last year that [Margaret Hunt Hill] was worth at least $1.4 billion, including [Hassie]'s trust. [Caroline Hunt Schoelkopf], it said, was worth $1.3 billion. THE MAKING AND UNMAKING OF A FORTUNE Since Dallas oilman [H. L. Hunt] parlayed a $5,000 inheritance into a $2 billion dollar empire in 1954, the Hunt family has stood atop one of largest family fortunes in the country. Three of Mr. Hunt's sons, [Nelson Bunker Hunt], W. Herbert and [Lamar Hunt], emerged as some of the nation's most important commodities investors. Following is a chronology of key events leading up to the bankruptcy filings of a major Hunt holding, the Placid Oil Company. Nov. 29, 1974: H. L. Hunt dies at the age of 85. Sept. 26, 1976: A Federal court jury acquits Nelson Bunker and W. Herbert Hunt of wiretapping charges. They were accused of hiring private detectives to tap the phones of six employees of their late father to check on thefts from the company. Oct. 5, 1977: The Sunshine Mining Company, a leading silver producer, agrees to be acquired by the Hunt-controlled Great Western United Corporation, the nation's largest beet sugar producer. Dec. 28, 1979: Bache Group announces that Nelson Bunker and W. Herbert Hunt own about 3 percent of the securities firm holding company. Dec. 31, 1979: In an attempt to corner the world silver market, the Hunt family had amassed 195 million ounces of silver valued at $6.6 billion by the end of 1979, according to a Securities and Exchange Commission report issued in 1982. Jan. 18, 1980: Silver prices peak at $50.35 an ounce, up from $6 an ounce in early 1979. March 27, 1980: Tumbling silver prices decline to $10.80 an ounce. The Hunts fail to meet margin call on $100 million from their broker, Bache Halsey Stuart Shields Inc., triggering a market crisis. March 30, 1980: Hunts tell their bankers their debts are about $1.7 billion. April 1980: Hunt brothers claim their combined net worth, after losing $500 million to $1 billion on silver speculation, is between $5 billion and $6 billion. May 27, 1980: Thirteen major banks sign agreement to lend the Placid Oil Company $1.1 billion to pay off debts incurred by the Hunt family in the silver crisis. The Hunts pledge more than 63 million ounces of silver plus most of their other assets worth $1.5 billion. Jan. 7, 1982: Hunt trustees sell oil properties partly owned by Placid for $410 million to help pay debt on silver loan. Feb. 26, 1982: Placid Oil restructures the $1.1 billion loan in an eight-year agreement with 20 foreign and domestic banks. The new agreement continues covenants in the original loan requiring the Hunts to continue an orderly disposal of their silver holdings. Feb. 28, 1985: The Commodity Futures Trading Commission files a complaint alleging Nelson Bunker and W. Herbert Hunt manipulated silver prices during 1979 and early 1980. March 7, 1985: Three sugar subsidiaries of Hunt International Resources Corporation, a major holding of Nelson Bunker and W. Herbert Hunt, file for bankruptcy protection under Chapter 11. Aug. 27, 1985: Hunts disclose that their trusts have a net worth of at least $2 billion, while the net worth of their personal holdings is $600 million.
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