The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-12-08

NEW YORK. Dec. s.-Eforts OF The heirs
of Cornelius Vanderbilt toward compro-
mise on the valuation Of the estate made
| by G. B. D. Hasbrouck. representing tie
State Comptroller. and Anderson & Ander-
son, attorneys for the estate. have proved
| futile settlement has been reached al
| last in controversy as to what the hold
| ings of the dead millionaire we're worth
! The appraised valuation Of the personal
property is not fsr away from the S70.0eo,
eco estimate made by Senator Depew short
| ly after Mr.. YandeTbilts death.
Threats have been made by the executors
to carry the case TO the courts, as the
growing innpatience among the various
heirs of Cornelius Vanderbilt caused Sen
| ator Depew much worry.
| Mr.. Hashrouck mas assumed most pos
! tive stand, holding that the contention Of
| the executors that all the stocks and bonds
| held by the millionaire should be taxed al
par was wrong These securities, ne assert
/ ed, were silt-edged and should be taxed
I for what they would bring had they been
put OF. the market the Day Cornelius VAN
derbilt died.
To this the executors responded that had
these securities actually been on the mar
ket at one time such depression would
have resulted that they would not have
brought half their par value.
Mr.. Easbrouck maintained that the
State should have as large a portion Of the
Vanderbilt estate as could be legally eX-
| traetee- Charles d. O'ConneH, the Tegu-
lar appraiser of the estate. has occupied
very passive attitude in regard to its val
uatiOn. He announced that he would re-
port a schedule corresponding 10 the
~f
estate and the attorney for the State
Comptroller.
1t was thought that final agreement
would be reached last June. and notice was
given then that the report of the apprais-
er was ready 10 % hled with the surro-
gate, but the deadlock instead of breaking
became more fixed
The time for the fling Of the repars was
then set to coincide with the return OF
Senator Depew from his European trip, as
ell Vanderbilt heirs were anxious for the
distribution OF the requests
Many conferences were held al which
Senator Depew presided, but Mr. Has
hrouek would not bulge in his position
that the valuation named by the executors
was entirely too low
In the meantime there was great specu-
iatien as 10 what tse Tesiduary estate
would be. According to the terms OF the
will all that remained after the various
bequests had been divided Was 10 20 70
Alfred Vanderbilt. Young Vanderbilt.
now the head of tue great house. had not
before been able TO tell Just how much he
was worth. The estimate fixed by Senator
Depew Just after the viii was hIed for
probate was that the estate of his old as
sociate would be valued at sTe, 000. G0G
This would have given the residuary lega-
tee So, SEQ 0eo.
The estimate OF Senator Depew vas not
very far Off although il was not generally
accepted al the time. The general opinion
was that Cornelius Vanderbilt was worth
anywhere from $100, oG0, coo to S125. 000 Gee
Inc transfer tax on the Vanderbilt es-
tate viii reach $500 000 ALREADY the ex-
ecutors have paid to the State the sum OF
S51s,5g0, which was turned in early to get
advantage CT a reduction or per cent.
The delay in making the report Of the
appraiser was explained by the desire OF
the executors to escape the Government
war tax on estates, which is II per cent
on all estates over 81 ,6GO 600
a long legal battle was fought out at
the Supreme Court in Washington over
the eenstitutionality Of this tax This tax
being enforced by tie State Of New York.
it was claimed that the Government could
not come in for such al amount de-
cision was finally rendered in favor OF
those contrasting the law,
Comptroller Coler wiB get a snug sum
from the Vanderbilt estate His fee viii
amount to nearly $4,000.
Appraiser O'CcnneiI said yesterday:
Ny report viii be made in a day or
two. I am at work now getting the vari-
Gus items scheduled and viii have them
ready in time TO give the VanderbiIts
some very substantial Christmas pres
ents."