The New York herald., 1922-10-31
GUCCENHEIM RICHES
MAY Be 40 MILLIONS
Will of Eldest of Seven Sons
Reveals Only Small Part
of Estate.
FAMILY TO INHERIT MOST
All But About So, 100000 Left
in Trust for Widow and
Three Daughters.
FAMILY TO INHERIT MOST

The will Of Isaac Guggenheim, eld-
est Of the seven sons of the late Meyer
Guggenheim. whose names long have
been associated with the development
of copper mining and smelling. was
admitted to probate yesterday by Sur
rogate Howell in Mineola, Nassau
county. Mr.. Guggenheim died sud-
denly in Southampton, England. Octo-
Der 10.
The document reveals only small
part ef an estate, which may amount
to s40.000,00N All but about $2,0Oo.-
600 of this is left in trust as the
residuary estate, of which Mrs. Carrie
Guggenheim, the widow, and her
three daughters, Mrs. Beulah v
Spiegelberg of the Hotel Gotham,
Mrs. Edyth B. Josephthal Of the Plaza
Hotel and Mrs. Helen G. Glorney of
London, are the principal lbeneficiaries.
Created Trust Fund.
The size of the estate seems as yet
unknown. The petition filed with the
Il
the estate comprised more than $1,000
900 in personal property and $500. 900 in
real estate. One OF the persons men,
toned in the will was asked for an esti-
mate. He said:
1--WE really don't know how large the
estate is. Ii may be $25. 600, 900, or
possibly $4,000. .000."
Most OF this-however large as 1t may
he--is left in trust. With the exception
of beduests to two friends, amounting
TO $4,000. the estate will be distributed
among members of Mr.. Guggenheim s
family.
A collection of about twenty paintings
which first will go ITO Mrs. Guggenheim
may hang in the Metropolitan Museum
Of Art, II officials of the museum desire
to accept them as gift from Mr.. Gug-
genheim.
In January. 1920, Mr. Guggenheim
created trust fund for the benefit OF
his wife. providing that she is to re-
ceive net annual income of $1S0,000
Whatever deficiency arises In the In
come from this fund is to be made ur
out of income from the residuary
estate. Mrs. Guggenheim receives fur
niture, household effects. wearing ap-
parel. linens, china, glassware. silver.
ware. works of art, horses, automobiles
and the proceeds of all insurance poll
cies which were in her husbands name.
Mr.. Guggenheim also made an abso-
lutte bequest to her of the property at
l52 East Fifty-fifth street, and the
life use of Villa Corola. the country es-
tate at Sands Point. North Hampstead.
L. I.
Surplus income remaining after Mrs.
Guggenheim's share Is paid, will go in
equal shares to Mrs. Spiegelberg. Mrs.
Josephthal. and Mrs Glorney. The
daughters surviving Mrs. Guggenheim
are to have equal shares in the resid-
uary estate.
Four Grandchildren Mentioned.
Four grandchildren are mentioned
with specific 1egacies Isaac Guggen-
helm I'd, Is year old son of Mr.. and
Mrs. William I. Spiegelberg. who
adopted his grandfathers name about
ten years ago. will get Mr.. Guggen-
helms jewelry and the income from
Bolivian tin stock. Until he is 21 this
will be at the rate of $1,000 a year.
until % it will be $4,000. then s25.-
GOO a year until he Is 80, and $4,000
q year until he attaIns 35
Then he is to get the principal of the
trust.
Three granddaughters, the Misses
Audrey Barbara Josephthal, Gilmore
Clare Josephthal and Carol l.. Glorney
will receive the income from three trust
funds, each of 100000. They will get
the principal when 80 years old.
The first bequest In the will Is 5000
to Osmond Loew, son of Mr. Guggel-
helms sister-in-law. Sophie Loew.
There Is a similar beuuest to Mrs. Viole
Myers. the daughter of Mrs. Loew.
These are the only specific cash be.
quests, but there are the following gifts
in trust: $4,000 to Morton Sonneborn
brother-in-law: 5000 to Mrs. Esther
silber. of 166 West Seventy-seventh
street; and $4,000 to Mrs. Sallie sessel.
Of 80 West Ninety fifth street. Both
these are said to be friends of the
family.