Meyer Guggenheim

Meyer Guggenheim ( born 1 February 1828 in Lengnau (AG), Switzerland, † March 15, 1905 in Lake Worth, Florida ) was a Swiss- American industrialist and philanthropist. He was the head of the American line of the Guggenheim family.

Biography

Guggenheim was born in Lengnau in the Canton of Aargau, which was next to the neighboring Endingen the only place in Switzerland, in which Jews were permitted to settle in the 18th and 19th century in Switzerland. Father Simon Guggenheim wanted to also widowed Rachel Meyer -Weil married after the death of his wife. The marriage, however, was denied them because they doubted that the income would be sufficient for the family - Simon had five children ( including Meyer as the only son ), Rachel seven. They decided to emigrate to escape the restrictive laws for Jews. 1847 they moved over Hamburg in the United States and settled in Philadelphia.

Father and son Simon Meyer earned their living first as peddlers, then put her cleaning supplies and finally went to trade in coffee and spices over. From 1871, imported Guggenheim St. Gallen embroideries from Switzerland, the business he gave to four of his sons ten years later. In 1881 him a debtor transferred the mineral rights in a mine in Leadville (Colorado). The work proved initially difficult and low yields, however, the miners came unexpectedly large lead and silver deposits. In 1889 Guggenheim build the first silver melting furnace in Pueblo and founded the same year the Philadelphia Smelting and Refining Company.

The Guggenheim also imported silver from Mexico and soon had held a dominant position. They acquired more copper, silver and lead mines and built a production chain stretching from ore extraction to finished product. 1899 founded their competitors, the American Smelting and Refining Company, a trust of international importance to curb the influence of the Guggenheim. This, however, acquired the following year, large parts of the Trust and soon gained control. At times, dominated the Guggenheim 80% of global production of copper, silver and lead.

Meyer Guggenheim retired in 1891 from the business back and moved to Florida. He left the mining activities, his sons and devoted himself to charity.

Progeny

Meyer Guggenheim married in 1852 Barbara Myers, with whom he had eight sons and two daughters. They are:

  • Isaac Guggenheim (1854-1922)
  • Daniel Guggenheim (1856-1930)
  • Murry Guggenheim (1858-1939)
  • Solomon R. Guggenheim (1861-1949)
  • Benjamin Guggenheim (1865-1912)
  • Robert G. Guggenheim (1867-1876)
  • Simon Guggenheim (1867-1941)
  • William B. Guggenheim (1868-1941)
  • Rose Guggenheim (1871-1945)
  • Cora Guggenheim (1873-1956)
Lengnau, Aargau Leadville, Colorado Trust (business)
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