Thursday, April 30, 2009

Leeds fortune tied up as William is given an allowance

April 30, 1921

Princess Anastasia of Greece, who is married to Prince Christoper, is expected to leave Athens on May 4 for Brindisi where she will catch a train to Paris. She will be accompanied by her son, William Leeds, along with Grand Duchess Marie of Russia and her daughters, Xenia and Nina. Princess Xenia is engaged to marry William Leeds. Princess Anastasia is expected to undergo a second operation at the American Hospital in Paris.

After she recovers, the princess expects to go to America, but if Prince Christopher plans to go to the front to fight the war in Asia Minor, she will return to Greece. She is "endeavoring to postpone indefinitely the marriage of her son and Princess Xenia because of their youth," reports the Associated Press.

The Princess, who was born in Ohio, appeared "extremely weak and much thinner," due to her illness. She sat in an invalid's chair, as she is too weak to stand. She said that the engagement of her son broke her heart, and "after learning of it she wept for three days and three nights, refusing to see him."

The objections to the marriage are based on the couple's "youth and inexperience," but it appears that the princess has "finally yielded to her boy's persuasion."

She has denied that her son will convert to the Orthodox faith or that he will receive a title from the Greek king. The young couple will live in America, she told a reporter.

Anastasia declared to be "absurd" reports that her son was the "richest boy in the world." She said that his father's will provides for William to receive $500,000 when he reaches the age of 35. When he marries Princess Xenia, Princess Anastasia said she will ask the trustees of the Leeds estate to give her son a moderate allowance.

The princess said that her own will "specified upon her death" that William will be able to draw on the interest of the trust fund, but "that he will not be able to touch the principal." If either William or his wife will die, the entire $40 million Leeds fortune will go to their children as the trust fund will cease after the third generation. If William has no children, Princess Anastasia has named New York's Lying-In Hospital as the beneficiary.

Princess Anastasia as not settled any money onn Prince Christopher. She noted that they were married in Switzerland, where, under Swiss law, "each keeps his or her own money and property."

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