The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-10-11
l. Guggenheim
Dies Suddenly
at English Inn
Capitalist and Copper Magnate
Expires in southampton,
England, Hotel.

associated Press). - Isaac Guggen-
helm. American capitalist and copper
magnate and member or a family noted
in the world of finance. died here I'M
expectedly to-day OF cerebral hem
morrhsge. He came here yesterday
from London by motor 10 meet Henry
W Marsh, who arrived on the Aqui-
tania.
Before retiring at his hotel last night
Mr.. Guggenheim complained of a pain
in his chest which he attributed to in
digestion. For some time he had not
been in the best of health and 1t is un-
derstood he had q slight stroke several
weeks ago. He had been able to get
about, however. and had arranged to re-
turn to New York by the Aquitania.
sailing next Saturday.
This morning he was too indisposed to
take breakfast and a doctor was sum
moned. Before his arrival. however, Mr..
Guggenheim died
After an examina ton the doctor GER
tlfied that death was caused by cerebral
hemorrhage and Inquest will be
necessary. The body will be sent to
America on the Aquitania next Satur-
day. Mrs. Guggenheim and their daugh-
! ter We're summoned from London.
Eldest of Seven Sons.
isaac Guggenheim was the eldest of
the seven sons of Meyer Gugeenheim a
SWISS Jew. who made a fortune in
America Together they founded and
| expanded to impressive proportions the
! inoustrlai and commercial house of
Guggenheim Brothers.
Isaac was horn in phiIa deInhia luna
. 1894, and was educated In the public
schools, being graduated from the Phila-
delphia High School In 1875 he mar
rled Carrie. daughter of Jonas Some
born of New York. He was engaged in
various commercial enterprises until
1881. when with his three younger
brothers he joined his father I'm forming
the firm of NJ. Guggenheim's Sons deal
Ing largely in Swiss textile importations.
These activities chiefly occupied the
attention Of the family until the latter
years of the last century. when they
acquired large holdings OF silver and
| copper mining property and kindred
allied interests. in the development of
which the name has been prominent
ever since. The development of the
n ming and smelling industries brought
to the brothers large wealth. When the
firm abandoned most OF its other in
terests In favor of the mining and smelt-
ing business II established It's main
Offices in the Empire Building. Il Broad
way.
The Guggenheims in 1901 merged the
smelling and refining branches OF their
enormous interests with the American
Smelling and Refining Company.
The four brothers who took the most
active part in building up the great
business were Isaac, Daniel Murray
and Solomon. Daniel being generally
regarded as the outstanding financial
genius Of the brotherhood Isaac was a
director OF the Mexican Union Railway.
the American Smelling and Refining
Company. the American Shelters Sc
| curities Company and of the Yukon
Cold Company. Among the many
enterprises dominated by the seven
brothers were the Guggenheim Explora-
ton Company, which developed mines.
and large interests in Alaska. Mexico
end the Central Congo. They went into
the Congo in association with Thomas
r. Ryan to develop the rubber and
mineral resources of that country and
remained.
gave Much to Charity.
Mr. Guggenheim during his active life
gave away a considerable fortune for
the promotion OF welfare work among
the poor OF this city. Many hospitals
received large gifts at his hands. His
benefcence especially in aiding the
Sydenham Hospital In Harlem caused
him TO be honored by the directors of
that institution. Though Of a sensitive
and retiring temperament he was gener-
Gus in the extreme.
Benjamin Guggenheim, one OF the
brothers, went down aboard the Titanic
IN 1912. An examination OF the affairs
OF the Guggenheim firm, made at that
time for the benefit OF the daughter OF
Benjamin, disclosed the fact that the
firm had received a consideration OF
SOC. 1000. 900 for that part Of its property
that was sold to the American Smelling
and Refining Company in the 1901
merger. The examination indicated that
the family fortune ranked among the
largest in the country.
Mr.. Guggenhem was the treasurer
and one OF the directors OF the Guggen-
helm Exploration Company. a director
Of the Plaza Bank and the National
Park Bank and a member of the Cham
Der of Commerce. the Lotos. Criterion
and Lawyers clubs, and Of many other
New York organizations.
His New York home was at 40 Park
avenue and his offices at 100 Broadway.
Besides mis- widow Mr.. Guggenheim is