Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-15
SAGE HAD $50,000,000
Assessment Ten Times Greater
Than Andrew Carnegie's.
ONLY PERSONAL ESTATE
New Tax Law Causes Trouble in New
York.
$5.00o,ooO IN MRS. sAGE's NAME
Ofdcials Are Sure That She Won't Try
to Dodge - Tremendous
Realty Increases.


dollars is the valuation at which the tax
assessors have written down the personal
fortune left by Russell Sage the Wall
street money lender. on the tax books for
1907 which the tax department threw
open yesterday to public inspection.
This is easily the biggest individual per-
sonal tax assessment ever recorded on the
city's tax books. Andrew Carnegie. at
$5,O0O.OOO, stood at the head of the list up
to yesterday John D. Rockefeller, said by
some to be the richest man in the world.
came next at 50, 10000 Only about half a
dozen other New Workers pay taxes on
81 .OOO. 600 personal property. Mr.. Sage in
his lifetime escaped with an assessment of
$2OOOO00. which he sought at first to have
reduced or wiped off the books.
Yet this same fortune, after Mr.. Sage's
death, is valued by the tax assessors at
$50 100000. In addition to this. Mrs. Rus
sci Sage, to whom the money lender left
practically all his wealth, is assessed on
5000 900 personally in her own name.
May Go After Back Taxes.
If these two assessments Standard there
is great curiosity to see whether Mrs Sage
will combat them-she will have to draw
her check in favor of the city Treasury for
something like $4,000 Besides that, there
Is a very strong possibility that the city
will move to collect the tax for the two
past years, which it can do under the law.
If the personal estate is worth $5o,0O0,000
now. the city will probably take the atti-
tude that 1t was worth that much during
the two previous years.
City officials who estimated the value OF
the Sage estate say that its total is prob
ably around $90.OO0OO0. Lawson Purdy,
president Of the tax board, stated that the
valuation Of $50.OOO,OO0 put upon the per-
sonal part of the estate was made up from
the data furnished by the administrators
in connection with the will. In their affi-
davits. the administrators admitted that
the fortune was worth more than
$4,000, 900.
Mr.. Sage's fortune was different from
that Of almost any other rich man in
New York city, consisting chiefly of cash.
notes and other property which Is taxable
under the head of personality. Fortunes
like those of Mr.. Rockefeller. the Wander
bilts, the Goulds and others are largely
in stocks and other property which is
taxed in another form. and. consequently,
does not appear in the official rating Of
their personal fortunes.
Mrs Sage, upon whom the burden of
this huge assessment will fall. Is a pub
lic-spirited woman. and the city officials
confident that she will make no at
tempt to eyade any just payment. How
ever. some of the items of personally may
have been overestimated. A good slice of
the assessment may be sliced off by the
swearing OH process.
Some Heavy Assessments.
Some Of the nonresident New York
ers who must pay taxes under the new
law are: William Waldorf Aston, England.
$4,000; Caroline w. Astor. Newport.
s75O.OGO; Lolita Crabtree. New Jersey.
100000; Marcus Daily. Montana, 100000;
Henry c. Prick. Pennsylvania, 100000:
Elbridge T: Gerry. Newport, s75o,oOO; Har-
riette w: Goelet, Newport. $4,000: Robert
Goelet, Newport, s75O.O00: George ]. Gould,
Lakewood, 900; H. o. Havemeyer. Con-
necticut, s5Oo0OO; James ]. Hill, Mime
sofa, $5cO,O0O; Sarah A. Hewitt. New Jer-
sey,, $4,000; J. Pierpont Morgan, jr, Eng
land. $4,000; Almeric Paget England.
100000; Edward r. Thomas, Newport.
$2OoOOO; James ]. Van Allen, Newport,
s250,eO0; Jose R. Barrios Cuba, 100000.
The books show an immense increase in
the total valuation of real estate. 1t will
amount to fully IN per cent. Although
the totals have not been footed up the
estimate of the tax department Is that the
total increase will aggregate in round num-
bers $405015,31 This will bring the total
value of the city's real estate up to s., SO5,-
219,53O.
This means an increase in the borrowing
capacity of the city amounting to fully $40
100000. 1t will enable the city to under
take the building Of at least one and pos
sibly two new subways. The present esti-
mated borrowing capacity is in the neigh
EOrhoOd of $50 O00, 900.
Barring the list of nonresident taXpay-
ers, it is believed there will be a large fall
ing off in the personal tax assessments
since last year. Their figures, like those
of the real estate, have not been footed up.
but President Purdy admits that hundreds
of names of persons who swore off last
year have been permanently dropped from
the rolls. He says it is useless to cumber
the books with them. Last year the total
tentative personal assessments amounted
to So, 493 ola, 6S2. After the tax dodgers and
others legitimately entitled to having their
names removed got Through swearing off,"
barely more than 10 per cent of the assess
ments remained on the rolls.
How City Loses It's Due.
President Purdy, like other tax experts, is
disguised with the working of this law, and
says that its absurdity was never better
illustrated than In yesterdays list. A fea-
ture of this list is the large number as
sessments levied upon widows and estates,
the owners of which have died within the
last year. The Sage estate is the most strik-
ing example of this. If the Sage estate is
worth $50, 600 900, the experts say, 1t is OBJ
vious that for years the city has been los
ing fully 100000 in taxes on it yearly.
Another instance of this is the appe: rance
on the list Of the names of the widow and
sons of ZAP Adams. who recently inherited
the fortune of the policy king
Among the well known persons assessed
on the personal tax roll are Goldie L. Wood
(Go:die Mohr), who is put down for $780,
900; William T. Iorey. 1000; Henry H.
Rogers. $500, 600, and William Rockefeller.
500, OGO. Neither Edward H. Hartman
nor Thomas +. Ryan appears on the list
John d. Rockefeller, jr., gets off with
500. 900.
Great advances in the value of real estate
In the neighbori God of big public improve
ments are shown. Property around the new
station has bounded up in
value. Queens borough leads all others in
the percentage of increase.
Veterans Watch Legislation.
1T beats all how the old veterans all over !
the country keep close tab Oh the progress |