"Magowan herself didn't even know she had that kind of money. Most of it came from stocks her family had owned in General Motors and General Electric."
Magowan's family had held onto those blue chip stocks for more than 50 years. She also had life insurance policies. The most interesting find of Magowan's was a Quaker Oats box stuffed with war bonds, mostly just for $20 and $50. However, interest had been accumulating since the 1940s, and in the end that little Quaker Oats box was worth $183,000.
The Hartford Courant reports Magowan also had National Geographic magazines dating back to 1929. The elderly woman also had $6,000 worth of jewels in a safety deposit box.
Magowan, who never married, left $374,000 to St. Mary's Catholic Church, whose new priest had never even heard her name until he received word of the large donation.
"When I heard that amount, I was literally astounded."
"Her will has just been settled. ... The town's board of education got nearly $500,000 ... and her college alma mater in West Hartford got $500,000."
Magowan originally thought she only had $40,000 before she died. But after adding up stocks, bonds, life insurance policies and war bonds, she actually had closer to $6M.
- See more at newsy.com.