Ernest Hemingway left a gross estate of $1,410,310, of which his widow, Mary, is expected to receive about $1 million as the sole beneficiary.
The rest of the estate will go for taxes, past and present, various debts, funeral expenses and legal fees, according to an accounting that was filed yesterday with the Transfer and Estate Tax Section of the State Tax Commission at 80 Centre Street.
The author, who won both the Nobel and Pulitzer Prizes, was found dead of a shotgun wound at his home in Ketchum, Idaho, on July 2, 1961.
Mr. Hemingway would have been 62 years old that July 21.
The author’s assets were divided in the accounting into three categories — stocks and bonds ($418,933), miscellaneous property ($801,766) and mortgages, notes and cash ($189,611).
The adjusted gross estate was listed as $1,289,336 after deductions of $62,545 for funeral and administrative expenses and $58,529 for debts.
All but $918 of the debts are owed to the Internal Revenue Service, and New York State Tax Commission and the Florida Tax Commission for past tax bills.
Mrs. Hemingway presumably will receive outright half of the adjusted gross estate, or $644, 618. The other half is subject to estate tax by the Federal and state governments.
One tax expert said yesterday that taxes on the amount would be “about $250,000.”
Mr. Hemingway had holdings in 36 companies. They were mainly blue-chip securities that apparently provided him with more income in the five years preceding his death than did his published works.
The author’s holdings on Wall Street seemed more consistent with a banker’s portfolio than with a rugged writer who found so much of his literary inspiration in the bull rings of Spain and the jungles of Africa.
Some of the larger holdings included common stocks in Eastman Kodak, 304 shares valued at $32,233; General Motors, 540 shares at $24,088; Bethlehem Steel, 240 shares valued at $10,081,and 336 shares of the American Telephone and Telegraph Company, valued at $39,447.
Mr. Hemingway also owned 50 shares of common stock in Gimbels, valued at $3,581…
Q: Welles based Jake Hannaford, the character you play on Ernest Hemingway and you were friends with Hemingway and spent time with him in Cuba. Were you surprised when he put a gun to his head and shot himself?
JOHN HUSTON: No, I wasn’t. It was exactly what I would have expected him to do under the circumstances. And I say that with profound admiration for both him and the act.
JOHN HUSTON: Oh, yes. He was on his way out mentally, and he had tried once before. He was very canny about it. He had these flashes of sanity. Once they were taking him to the Mayo Clinic on a chartered plane and he tried to jump out of the plane. They subdued him. Then he talked his way out of Mayo and got home. And if you saw the pictures of him near the end, you could see it in his face. The smiling one—the flesh was gone—that was somebody else.
Q: You say “with profound admiration for the act under those circumstances.” Do you think you would consider doing something like that?
JOHN HUSTON: I wouldn’t dream of doing anything else. If I didn’t, it would be out of cowardice and nothing else. I mean Hemingway wouldn’t have done it had it been cancer. But he was on his way to imbecility. That is a hell of a thing to have around. I’m intrigued by the way suicide is approached by different cultures. In some places it’s the thing to do. But the bourgeois of the United States legislates against it. In this society, death is a kind of a shameful thing and is to be concealed even after the spirit has left.