New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-13
FIX GAYNOR'S FORTUNE
At ABOUT 100000
Friends Of the Mayor Assert He
Put Fair Part of Salary in
Paying investments.
OBTAINED MANY BIG FEES
Share as Executor and Trustee
in Baking Powder Kings"
Estate S300,000-Large
Holder of Real Estate.

william J. Gaynor's wealth. the extent
OF which he had always been reticent IN
making known, was estimated Yesterday
by his associates at from $4,000 TO ut
least 10000. The opinion was expressed
By q close personal friend that when the
appraisal was made it probably would De
fond ,aa- the estate would exceed even
these estimates. OF his fortune. it Is the
popular opinion that the largest part
grew out OF his positions as executor and
trustee of the estate OF William Ziegler,
The baking powder manufacturer
Il was supposed that his fees for
handling the sl5,oO9OoJ estate, together
with those Of the two other trustees
William ;. Champ and Mrs. Ziegler. were
very large, but j. was definitely asserted
Yesterday that Mayor Gaynor received
comparatively small sum for his connec-
ton with the estate.
According 20 Mr.. Champ. who was as
ISOLATED with Mr.. Ziegler for twelve
wears before his death Mayor Gaynors
share OF the trustees and executors fees
. =
amount II was explained in detail the
largest part was a commission Of one
half Of : per cent Of the estate paid 10
Mayor Gaynor. IN accordance with the
laws provisions, when ne assumed the
RESPONSIBILITIES Of an executor. This com
mission amounted 10 about 10000.
After the executors turned the estate
over 10 themselves as trustees Mayor
Gaynor's yearly income as trustee aver
aged about $1,000 But If the trustees
fees did not make up the bulk Of the
Mayors fortune. his connection with the
millionaire baking powder manufacturer
formed the starting point OF his accumu-
lations.
When Mr. Gaynor first met Mr.. Ziegler
Re was a practising lawyer. while Mr..
Ziegler. although rich. had not then
brought about the consolidation Of oak-
ing powder enterprises which was to
gain for him the name OF The Baking
Powder King" Chief OF Ziegler's inter
ests was the Royal Baking Powder Com
pany Gaynor In one Of his campaigns
against political corruption in Brooklyn
induced Zlegler TO bring a taxpayers suit
against the city, and il was his skiifu.
handling Of this Aght which brought him
the Royal Baking Powder Company
business.
Nr. Gaynors first big fee was obtained
when he won a case for the Royal com
pany in a litigation with q business rival
Not realizing the full value OF his ser
vices. the lawyer asked a friend what
10 make the fee. He was advised to ask
$500 but before Mr. Gaynor sent his
bin Nr ZleGler sent him check TOT
S2Ou other large fees followed IN ne
organization Of the baking powder inter-
ests Mr.. Gaynor also had an opportunity
70 invest part Of his earnings in stock
Of the ROYAL company. This stock, IL was
sa.d Yesterday. is stu held in his name
Mavor Gaynor before he went on the
bench. acted as counsel. executor anu
trustee in other testsmentary cases. FROM
his handling Of the famous Wechsler ana
Waters cases. il was thought he made
handsome fees.
During his term Of many years on the
guu,erne Court bench Mayor Gaynor re-
ceived a salary OF 1880, and as Mayor
he received $1,000 His home N BROOK
lyn and his summer home at 81. james
Long Island. are unpretenuous' anu MS
personal habits were thrifty and econoinl-
cal Although he carefully educated ms
children. the opinion was expressed yes
ierday that Mayor Gaynor had prooaoIy
invested a fair part Of each years salary
I'm paying holdings. He was largely IN
terested in Brooklyn real estate ana he'd
many parcels in Flatbush.