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 Kate Gertrude <I>Bitting</I> Reynolds

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Kate Gertrude Bitting Reynolds

Birth
Yadkin County, North Carolina, USA
Death
23 Sep 1946 (aged 78)
Forsyth County, North Carolina, USA
Burial
Winston-Salem, Forsyth County, North Carolina, USA
Memorial ID
18012446 View Source

Kate Gertrude Bitting Reynolds was the daughter of Joseph Anthony and Louisa Phillipina Wilson Bitting. Kate was married to William Neal Reynolds, a younger brother of R.J. Reynolds, who after R.J.'s death, was chairman of the R.J. Reynolds Tobacco Co. Kate and Mr. Will (as he was known), lived on their estate, Tanglewood Farm, until their deaths. Today, Tanglewood is run by Forsyth County as a public park. Through provisions in her will, the Kate B. Reynolds Charitable Trust was set up in 1947 with one-fourth of the income from the Trust to be used for the poor and needy in Winston-Salem and Forsyth County, and three-fourths of the income to be used for charity patients in North Carolina hospitals. In 1989 investors successfully executed a leveraged buyout of RJR Nabisco. As Mrs. Reynolds had instructed in her will, virtually all of the Trust's investments at the time were in RJR Nabisco stock. When the Trust sold its RJR Nabisco holdings, the value of its assets jumped from $129 million to more than $262 Million, substantilly increasing grantmaking resources. As of August 31, 2005, the Trust's assets were in excess of $533 million. Mr. Will shared his wife's interest in providing adequate health care for others. In 1902, he gave $115,000 toward the construction of a new hospital and when it opened two years later, it was named the Kate Bitting Reynolds Memorial Hospital. Three years after its opening, Mr. Will gave another $75,000 to build a 90-bed addition. Known as the Kate B, it operated until 1970 when it closed and the patients moved to the new Reynolds Hospital. Through Trusts and Foundations, the Reynolds family have shared their wealth.

Kate Gertrude Bitting Reynolds was the daughter of Joseph Anthony and Louisa Phillipina Wilson Bitting. Kate was married to William Neal Reynolds, a younger brother of R.J. Reynolds, who after R.J.'s death, was chairman of the R.J. Reynolds Tobacco Co. Kate and Mr. Will (as he was known), lived on their estate, Tanglewood Farm, until their deaths. Today, Tanglewood is run by Forsyth County as a public park. Through provisions in her will, the Kate B. Reynolds Charitable Trust was set up in 1947 with one-fourth of the income from the Trust to be used for the poor and needy in Winston-Salem and Forsyth County, and three-fourths of the income to be used for charity patients in North Carolina hospitals. In 1989 investors successfully executed a leveraged buyout of RJR Nabisco. As Mrs. Reynolds had instructed in her will, virtually all of the Trust's investments at the time were in RJR Nabisco stock. When the Trust sold its RJR Nabisco holdings, the value of its assets jumped from $129 million to more than $262 Million, substantilly increasing grantmaking resources. As of August 31, 2005, the Trust's assets were in excess of $533 million. Mr. Will shared his wife's interest in providing adequate health care for others. In 1902, he gave $115,000 toward the construction of a new hospital and when it opened two years later, it was named the Kate Bitting Reynolds Memorial Hospital. Three years after its opening, Mr. Will gave another $75,000 to build a 90-bed addition. Known as the Kate B, it operated until 1970 when it closed and the patients moved to the new Reynolds Hospital. Through Trusts and Foundations, the Reynolds family have shared their wealth.


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