The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-01
ART ASSOCIATIONS FUND
OVER S15O.OOO TURNED OVER BY
HEBRON ESTATE ADMINISTRATORS.
The Request VIII Amount to About
$222, 4OO-COst of Handling
the Big Trust.

A. p. Stanton, administrator yesterday
filed with the Probate Court partial settle
ment of the estate of the late John Herron
the bulk of which was bequeathed 10 The
indianapolis Art Association. He made an
assignment of all the notes and negotiable
paper with the exception of about 81 ,400),
amounting to $131, 900, and turned over to the
treasurer, Mrs. Lillian Wright Dean, tine
sum of $4,000 in cash. There is still about
$4,000 worth of property to be disposed OF
for the benefit of the Art Association.
John Heron died April 30, 1895, and left
an estate appraised at S234,OOO. There were
some minor requests. amounting in the eg-
gregate to about $1,000 and the remainder
of the estate was bequeathed to the Indian
apolis Art Association About $4,000 of this
was in real estate, and 1T was devised that
the administrator should dispose of it for
cash, and that he should turn the personal
property into cash where it was deemed adj
visable. Part of the latter was invested in
such way that it was bringing good re-
turns, and has not been disturbed OF the
real estate 100000 worth was sold during the
first year, when the market was good. Fol-
lowing that time the real estate market was
depressed, and Mr.. Stanton held on to the
remainder. He hopes now to find customers
for it. None of the property was sold at.
less than the appraised value, and some of
it brought higher price than that fixed by
the appraisers
The estate has yielded considerable rove
nue. since it has been in the hands Of Mr..
Stanton-more than enough to pay all the
expenses of administration. The minor leg
acies amounted to about $780, there has
been paid in taxes and municipal improve
ment assessments about $1,000, attorneys
fees have amounted to $1,000, and Mr.. Stan
ton was allowed $10,5OO, making a total ex-
penditure. other than the bequest to the
art association, of about 1893, 500. This sum
deducted from the value of the estate,
900, would leave to the art association
but $2OO, 800 but the fact is that the asso-
citation will get $222 400, so there has been
profit In the neighborhood of $4,000.
The allowances for attorneys fees were
heavy on account of the fact that the will
was contested. "A number of Johnson county
distant relatives of Mr. Heron were left
$500 each. and sought to break the WILL
They brought suit in the county courts here
and were defeated. They then sought to
take the case to the Supreme Court, and
wanted to do so without giving bond, alleg-
ing they had no money. and were suing as
pun pSlSOAlS' ms koupACAAC >rOuAb NSAAANN
them that privilege but the attorneys for
the art association had the case settled and
had the testimony recorded in order to pre-
vent further suits and expense OF the same
kind.
Mr.. Stanton expects to make final settle
ment of the estate within few months. He
will try to dispose of the remainder of the
real estate at once. The three years allowed
by law for claimants to come in and sue
for portion of the estate will expire in
little over a month, and before this time no
final settlement is deemed advisable.