The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1909-10-01
BIG ESTATE
HARTMAN WILL is REMARKABLE
FOR ITS BREvITY.
New York State to Receive More Than
Million Dollars in Inheritance
Tax From Stupenduous Fortune
Left BY Famous Railroad Magnate;
Widow to Have Able Counsel; No
Mention Made of Children.

Goshen, n. Y, Sept. 27.-The will of
Edward Ii. Hartman, in which every
thing is left to his widow was pro-
bated in the little court house here to-
day, Goshen being the county seat of
Orange county in which is located the
magnificent Hartman estate. An IN
ventory of the estate was also submit
ted by representatives of the Harri-
man family as preliminary to levy
ing the state inheritance tax, but it
was not made public No one has been
found who seems to be able or willing
to give a proper estimate of the wealth
of the late railroad magnate, although
several of his friends and leading
financiers have been approached on the
subject. No hint of it is given in the
will, which contains just ninety -nine
words. If the estate amounts to only
$l00,000,000, each word was worth
100000; and $2,OOO,OOO0 if the estate
totals $2O,OOO,OOO
Will Is Brief.
Involving as it does the absolute
disposition of one of the greatest for
tunes ever accumulated, the Hartman
will stands alone for brevity, lucidity
and the absence of cumbersome legal
phrases. Lawyers, when they read it,
declared it unassaiable and proof
against any contest that could be de-
vised.
The fact that it contains no mention
of any of the five Hartman children
vision was made for them by Mr.. Har-
riman when he realized that his recent
illness would prove fatal. While no
official announcement was made, it is
supposed he transferred to each one
of them several millions in securities,
which are to be held in trust until
they reach an aet suitable for the
responsibility of managing large wealth.
Also it is surmised that Hartman
had a thorough understanding with
bis wife as to her management of the
bulk of the estate, and that his faith
III her good Judgment was so absolute
he did not deem it necessary to en-
cumber the legacy with restrictions or
conditions.
Will Have Able Counsel.
That Mrs. Hartman will be guided
i'll her management of the huge wealth
with its multitude of responsibilities,
by Charles A. Peabody and ex-Judge
Robert S. Lovett, the two lawyers
whom her husband trusted most, is re,
garded as certain.
The bulk of the Hartman fortune is
tied up in the securities of the Harri-
man roads, and both Judge Lovett and
Mr.. Peabody have vital interest of
the welfare of those properties.
The inheritance tax which Mrs. Har-
riman must pay is l per cent of the
total of her legacy. If the estate
amounts to $lOO,OOOOO0 the state will
receive $l,O00,OOO and if it amounts to
$200,000,000 the tax will be $2,OOOOOO
If the Inheritance tax is paid within
six months after Mr.. Harriman's death
Mrs. Hartman will get an allowance
of 5 per cent, which would be $4,000
if the tax amounts to 100000 and
100000 if the tax runs up to S.,
100000.
Mrs. Hartman will have eighteen
months in which to pay the inhcritanc,
tax, but should it not be paid in that
period a penalty of 10 per cent. inter
est from the date of Mr. Harriman's
death would be added to the tax Be
cause of the large saving that will
come by paying the tax within siS
months it is expected Mrs. Hartman
lawyers will expedite the appraisal of
the estate in every possible way.