New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-03
GOULD ESTATE APPRAISED
A DECISION OF THE APPELLATE DIVISION
UPHOLDs THE sURROGATE-JUS-
rICE INGRAHAM DISsENTs

The Appellate Division OF the Supreme Court
Yesterday approved the order OF the Surrogate
appraising the estate of Jay Gould at ABOUT s'o-
Oooooo and also affirmed the order of the surro-
gate deducting 100000. the legacy OF George D.
Gould and the expenses Of administration In ar
irving at the value OF the property for purposes OF
taxation. Judge Ingraham writes dissenting
opinion Justice Williams writes the first opinion
and Justices Van Brunt Rumsey and PATTERSON
concur.
Justice Williams says that In administering inc
statute debts, commissions and expenses OF oou'"-
lstra,ion should be deducted In ascertaining tax
able values and that this accords with inc gen
cral practice, and Is permitted py 'u'' ~
struction Of the law. The Controller did hot us
pute this but insisted that the legacy Oh so"V'VOV
was not given In payment OF any iesa' o0,,
was a gift or gratuity from Jay Gouid, ana haoic
as such to taxation. Justice Williams Goes not
think tina, the admission OF the tesuihonS VI
George j. Gould this point was improperly 'e
cc,yed because he an interested person. as !"
was no, a proceeding of a witness against 'he
estate TO establish claim. but proceeding W as
certain the value Of property for the purpose OF
taxation and consequently permissible Justice
Williams reviews the life OF George j. Could nc
was born In 1864. the Justice says. ana was sew
a. Saratoga to give up all his time to his fathers
business do whatever his father told MN 10 40
I IN is%s he came Of age and much of the burden
OF his fathers business and estate deyoived on
ject to his sole check. he showed great skill ana
Sanacity in managing a business peculiar In us
na,ure the Justice says. The estate at Jay Goud's
death was valued at s7Sco 1900 .o,,v and ,us,.
ness ability which safely and successfully managed
such an estate. and the confidence when tne
father implicitly reposed in such management
were deserving Of q large reward lie toucnes
on the large gratuities of Jay Gould to his SON.
and says that there no doubt that the dece,
dent intended &c pay for his sons ten years OF
labor at the rate of $4,000 a year. Jusuce VIII,
Jams declares that 1t was clearly aept ina, Cou !,
have been enforced against the estate, ana tnat II
was competent for father and son to make sucn
ar ARRANGEMENT even though George j. GouId
was under age. The father he says had rig she
10 give the son whatever he pleased, whetner tne
services were worth 1t not. Justice Wiliams
also thinks that the expenses OF admlnistraa.l
were properly deducted $4,000 already having peeh
expended while S75 600 would be expended
Justice Ingraham In his dissenting opinion says
thai the 100000 was more in the nature OF
gratuity or gift than the payment OF dept, ana
Should be taxed He also dissents from the oplh-
ion as 10 the way in which the securities were
appraised, and says that fair market Vaiue Yves
not got by the appraiser while in many instances
The appraisal was excessive. Justice lngrahein
expresses the opinion that the whole matter shoulo
be sent back to the Surrogate for reappralse1neh'