The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1912-10-23
ASTOR'S ESTATE
IS SSO,OO0,0OO
Appraiser Cuts II Millions Under
Popular Estimate.
LARGE INHERITANCE TAX PAID

Cheek For s3,150,ooo Sent to the New
York State Comptroller by the Colo
nePs Exeeutors-His New York Real
ty s~62,s5o,ooo.
1t is the best guess Of the executors
Of the estate of Colonel John Jacob
Astor that his estate Is not worth more
than SSO,O00,OO0 instead of the muc
larger estimates heretofore made.
Their opinion took the form recently
of a certified check for $3.150,O00 sent
to State Comptroller Sclimer for the
account of the inheritance tax due in
New York.
The law provides for a rebate OF 8
per cent Of the tax on payments made
within six months OF the death of the
~testator.
Estates i'm excess Of $1.0OO,000 and
falling to heirs in direct line, like Colo
mel A%stor's, pay an Inheritance tax of
4 per cent to the state. ON this basis
the check represents a principal or
SIS, 100000. Newport property, not as
sessable In New York, raises the total
estimate TO $S0,000,0O0.
The payment is the largest inheri-
lance tax paid on a single estate In
New York since the enactment OF the
law, twenty-seven years ago. IL is
nearly one-third as large as the entire
tax collected In the fiscal year ending
Sept. 30.
Appraisal Not Ended.
There was no object In the payment
except TO earn the legal rebate Of 8
per cent. James Roosevelt Roosevelt,
Douglas Robinson and Nicholas Biddle,
the executors, Join In advising the
comptroller that the present estimates
are preliminary and that %appraisals
will not be finished for several weeks.
Tentative appraisements Of Colonel
Astor's real estate In the city aggre-
gate SCI, S50,O00. These holdings had
been popularity supposed to be worth
S100.O00,O00. When final reports are In
and hearings are held to determine ex-
act values comparisons may be made
between the figures In the city tax
books and those or outside experts.
Robert E. Bowling is appraising the
Broadway and upper Broadway prop
critics and those lying on either side
OF Fifth venue between Madison and
Sixth avenues. His preliminary report
shows a total of about $54,0 200.
Kept Records In old Way.
Before undertaking this work Mr..
Bowling went to the Office of the AS
tor estate for surveys to mark the ex-
act location OF each parcel of land,
taxes and other expenses of malnte-
nance and the rentals received In or
der to figure the net income. He found
that the estate had never kept any
thing OF the kind, but had been con-
tent to do business by keeping the
leases In strong boxes aud recording
everything else in account books. A
few city maps furnished the office with
all Its requirements in the matter of
reference. Mr.. Bowling is preparing
detailed maps Of every piece of land,
which he has compiled In handsome
books.
Clarence j. Ramsey was appointed
to appraise west side properties, in
Guiding docks. His estimates amount
to about 81, 100000. Clarence W. Eek
hardt appraised east side properties at
about $3.50, 600. and Joseph p. Day
figured the Bronx lands at $4,560,000.
All these appraisals are subject to re-
vision.
Value Of Other Property.
Tentative figures on the value of
paintings, engravings, miniatures, stat
uary and bronzes in Colonel Astor's
Fifth avenue residence and in his coun-
try house In R~hinebeck were made by
Edwin G. Holston. He figures them
worth 100000. Benjamin III. Herts
has appraised the other personal prop
erty of Colonel Astor Of his town and
country homes at $SS7,o65. Hiram X.
Knapp is appraising the personal prop
erty of Colonel Astor In his town and
ports that the appraisal will be be-
tween $50o.00O and 100000.
No appraisal has yet been made of
stocks, bonds, mortgages and other
similar personal property or of the
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