Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-11-17
Value Of Stewart Estate
Is Below $2,o0o,Qoo.
Minneapolis Appraisers Com
plsIe the Work Of Valuation.
Feature Of the Report Is Listing Of
the Famous Stewart Library.

tate Levi NJ Stewart would reach $15,-
100000 or 20.0li0.pG0, the appraisers Of
such property AS the dead millionaire
left in Mirnes"ta rave placed its value
at 81 800 81. These are merely COM
DaratiVelT accurate figures, as the
property is held really to he worth
something more, oct nowhere near
what Df Dular teller had it. says the
Minneapolis Evening Journal Of Nov.
*.
There is only a little more in the eS-
| tate than Is Istcd as Minnesota prop
crtE. In arriving at values. the APP
| braisiers. y. f. Zonne and l.. b. Ell
wood, uSet the lease valuation. In
/ some ease this is twice the assessed
V?luHtiDr; IN others. as the older lcas-
es, it frequently is considerably less.
:. feature o.. the report is a listing
| of the famous Stewart library. This
REQUIRES several pages. J. II. Win
Guest u. al. expert librarian, and the
! nephew OF the late Mr.. Stewart. cx-
| poets to return to Coriana. Me-. this
week and begin placing the books on
the shelves OF the library there. This
work may require il year The library
has already been shipped east.
] The figures given express the valua-
| ton of the property on the lease basis.
| The increase of value Of the property
will accrue to the estate only, as the
| leases provide for reappra isement gen.
| orally a the end of 10-year periods.
| The increment OF value will be for the
| hehefit Of the county, however, in in
creased taxes as the property may be
reaSsessed ut increasing valuations
from time to time, which must be
borne b. the lessee.
The report of the appraisers. which
will he filed Wednesday with Judge G..
r. Smith 'of the probate court by
| Charles Morse. executor, and J. H.
Winchester, representing D. d. Stewart
of ST. Adams, Me, the second eXecu-
! tor. through Judge W. r. Cray. the at
torney, is 4 document of more than
| 100 closely typewriter sheets.
| 1t is methOdically arranged. giving
: the estimate Of the property entire and
then showing the various divisions.
The appraisal is supplemented by an
appendix showing the leases, the terms
and dates. Personal property is sepa-
rated into the belongings found on
Zion Hill. the old homestead at Fourth
street and Hennepins avenue. and in
The former Offices Of Mr.. Stewart in
the Kasota block The notes receiv-
able discovered and deposited in banks
are listed by themselves.
| Mention is also made of property at
Comma. Penobscot county, Me. valued
ut $500. in which Mr. Stewart had an
undivided one-third interest. the rest
belonging to d. d. Stewart and Mrs.
| hot G
quantity described as known as the
I.eavitt lot formerly known as the
old tavern stand one undivided third
of his fathers home farm"
The properties best known to the
public which is the half block on Hen
nepin avenue, between Fourth and
Fifth streets. and the half block site
of the New England, on Firth avenue
S, between Fifth and Sixth streets. are
appraised in individual lump sums. at
twice the assessed valuation. The first
named property is appraised at $780,
900, and the second at $660.O00.
Several leases have been executed on
| the first named property the majority
of them in recent years. The old
house and site is untrammeled and is
one Of the few properties not already
leased Among the leases in this half
lblock are these tn John and Samuel
Friedman, executed April l, 1910, for
/ 900 years at the rate of $1,000 for the
first 10 years and 5 per cent. of APP
/ praised value at the end of successive
periods. Another. to the same parties
of the second part, is dated Feb. l.
1910, at $4,000 year for the first IL
years the Harris lease is for $50
years at the following rent Five
Wears. $4,000 year; second five. S55.-
f00D; next ten. 100000: next go. $4,000:
next 50. $4,000; remaining so. $4,000.
Schedules show that the leases al
Imcst invariably were made 1T n fixed
Irate for ten years. with reappraise-
|inent for the remaining lease period
levery ten years. the payments to be
! ANNUALLY at per cent. of the reap
lpraised value. the lessee to pay taxes
land all assessments. In one case the
Irate is u per cent.
| Wearing. apparel and dsHaments OF
Levi NJ. Stewart are valued at $25
iStock in banks and corporations is nil
lOhice furniture is appraised at $3.50
land the value of other goods at house
land office $3.50. Eleven unpaid or par
Italy PAID notes amount. 10 d le" hun
Idred dollars. most of them being val
Iued at zero. One of these is a claim
Iagainst the Mime sofa Title Insurance
&. Trust Co, of $t33. of which the re-
ceiver has paid $500. Another is a
deposit in the First National bank OF
Iss. 322. a3, reduced by check given III
/ paymcnt of taxes to $3.50. In the saw
lings department is 100000. In the
Farmers & Mechanics Savings Bank
is $40, and cash and currency on hand
tamouuts tc s26276. Postage stamps
ladd sl.19 to the value of the estate. but
,s4.39 face value of old revenue stamps
are thrown in as nothing. Income
since death of Mr.. Stewart is placed at
1888, and cash refunded on dupli-
Icate tax statements as $643.39. The
total MORTGAGES. cash and notes IS
s33 800. "a. Property at Excelsior is
valued at $4,000.
The list of the personal properly o'
the dead millionaire is an interesting
study. It savors of pioneer days, witf
scythes. sickles. q picture of crossing
1.-The Ferry The old swinging lawn
seat 80 familiar to the public is listed
as wen as the summer chairs on the