Oregon’s Cone family built a fortune from federal timber beginning in the late 1800s, parlaying this into considerable economic and political power. Now, the Cone children are fighting in state and federal court over the ownership and control of the Cone fortune.
Oregon’s Cone family built a fortune from federal timber beginning in the late 1800s, parlaying this into considerable economic and political power.
Third-generation timber man Edwin Cone served two terms in the Oregon Legislature and a decade as mayor of Eugene. When he died, he left his four grown children at least $15 million worth of property, including the 180-acre Cone Lumber property in Goshen and the 170-acre Greenhill Technology Park in Eugene.
Now, the Cone children are fighting in state and federal court over the ownership and control of the Cone fortune.
Until recently, R.B. Cone, the eldest son of Ed Cone, was president or director of the five family ventures. The businesses have interlocking ownership — of unequal percentages — with portions going to Ed Cone’s four children and their children.
R.B. got the voting shares and the bank accounts. He has conducted no formal family business meetings, issued no regular financial statements to his siblings, or generated any balance sheets or income statements, court records show.
Read more in today’s Register-Guard.
