Estate of Eugene E. Stone, III, Deceased, C. Rivers Stone, E.E. Stone, IV, Mary Stone Fraser & Rosalie Stone Morris, Co-Personal Representatives - Page 29

                                       - 14 -                                         
          construction of a permanent soccer facility to be named the                 
          Eugene E. Stone, III, Soccer Stadium; (3) Ms. Stone’s living                
          arrangements; and (4) the use of Ms. Stone’s credit cards.                  
               With respect to the children’s concerns relating to the                
          management during their parents’ lives and thereafter of their              
          parents’ respective assets, Eugene Earle Stone, IV, had a partic-           
          ular interest in managing, and maintaining the value of, the                
          preferred stock of Stones, Inc.  C. Rivers Stone was very inter-            
          ested and involved in real estate development7 and had a particu-           
          lar interest in managing Mr. Stone’s real property known as Piney           
          Mountain (Piney Mountain property).8  Ms. Morris, who had sub-              
          stantial expertise in business and financial matters, had a                 
          particular interest in managing certain of her parents’ stocks              
          and securities, including at least some of Mr. Stone’s preferred            
          stock in Stones, Inc.  Ms. Fraser, who had developed a deep                 
          attachment to her parents’ Cedar Mountain property, had a partic-           

               7C. Rivers Stone pursued on a fulltime basis his strong                
          interest in real estate development after he stopped serving as             
          president of Stone Manufacturing around 1999.  C. Rivers Stone’s            
          first exposure to real estate development was at the age of 13              
          when he helped his father build two 50-acre lakes on the Cedar              
          Mountain property.  At the time of the trial in the instant                 
          cases, C. Rivers Stone had been involved in five major real                 
          estate development projects.                                                
               8Mr. Stone’s Piney Mountain property, located in Greenville,           
          S.C., consisted at least as early as 1994 of approximately 370              
          acres, which he accumulated over approximately 20 to 30 years.              
          During that time, Mr. and Ms. Stone maintained a vision as to how           
          the Piney Mountain property should be developed.  C. Rivers Stone           
          shared that vision.                                                         

Page:  Previous  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  Next

Last modified: May 25, 2011