STEEL TURNS TO GOLD

King Country Chronicle, Volume XXIV, Issue 3238, 4 December 1930, Page 6

STEEL TURNS TO GOLD

FORTUNE OF £55,000,000. MR. HENRY PHIPPS’ ESTATE. The Hon. Mrs. F. E. Guest, wife of Captani the Hon. F. E. Guest—former British Air Minister, a brother of Lord Wimbourne, and cousin of Mr. Winston Churchill—will, it is expected, inherit an immense fortune under the will of her father, Mr. Henry Phipps, the American multi-millionaire, whose death was recently announced. More millions will be distributed than any individual estate has ever yielded before, says the Daily Express. A preliminary estimate puts the value of the Phipps estate at £55,000,000.

Another heiress under the will is expected to be Mrs. Guest’s sister, Helen, who married Mr. J. Bradley Martin, the New Y&rk banker. Mr. Bradley Martin is a frequent visitor to Great Britain, and brother of the Countess Craven. The Bradley Martin-Phipps wedding, at Beaufort Castle, Beauly, Inverness, was a famous social event of 1903.

Two sons of Mr. Henry Phipps are as well known in London social life as in New York. Mr. John S. Phipps was married at Battle Abbey. Mrs. John S. Phipps is a sister of the Countess Donoughmore, whose husband, Earl Donoughmore, is deputychairman of the House of Lords and chairman of its committees.

Another son, Mr. H. Carnegie Phipps, married Miss Gladys Mills, who has marriage relationships with the Cavendish-Bentincks, the Duke of Portland’s family| He" has spent much of his life in Scotland, where he rented the sporting estates of the Duke of Richmond and Gordon.

Mr. Henry Phipps was the partner of the late Andrew Carnegie. Mr. Carnegie devoted £70,000,000 to public purposes during his life and left £7,000,000 at his death. Mr. Phipps made lavish gifts during his life, but died with the bulk of his fortune intact.

These two giants of the American steel industry lived parallel lives. Carnegie was a poor Scots boy, and Phipps was the poor son of an English shoemaker who settled in Philadelphia. Carnegie became an errand boy and Phipps an office boy.