Man thought to be frugal leaves millions for a hospital and library

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BRATTLEBORO, VT -- From Vermont comes the story of a hard-working man who was a part-time janitor, but when this supposedly frugal man passed away, he left millions of dollars behind to be donated to a local hospital and library.

Ronald Read, 92, died in June and most people thought that the only paper he had was his high-school diploma.

Gina Pattison with Brattleboro Memorial Hospital said, "Mr. Read was a very unassuming man who came into the coffee shop on a regular basis for his breakfast and so to then find out that he had left this money to the hospital was a great surprise."

After serving in the Army during World War II, he worked at low-paying jobs. he was a mechanic for years, and later a part-time janitor at JC Penney.

He was known around the town of Brattleboro as a scruffy-looking guy who was extremely frugal. Guess one shouldn't read a book by its cover, because it  turns out, Read made his millions in stock holdings and property. He left most of his eight million dollars to charitable donations, but he also gave a portion of his fortune to a couple of stepchildren and friends.

So how did read generate so much money? Though his jobs never yielded large salaries, Read's attorney - yes, he had one of those too --- said Read enjoyed investing in the stock market, always putting his money into "dividend producing stocks." It would appear he invested wisely.


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