The Bridgeport evening farmer., 1912-08-24
QUICKLY
 TO SETTLE VALUE
 OF ASTOR ESTATE
Executors Will Accept the Judgment of the Men Named by State Comp troller's Special Counsel.

New York, Aug. 24.-The four real estate appraisers and the three per- sonaI property appraisers appointed by State Comptroller sonmer and ac- cepted by Douglas Robinson and Nicholas Riddle, executors of the will of Col. John Jacob Astor, will begin at once to estimate the value of the estate.
 Transfer Tax Appraiser John V. Coggey. who was designated by Sur rogate Cohalan to carry out the ap- praisa1, held a hearing yesterday, which, was attended by John Quinn, special counsel retained by MT. Soh- mer, and Lewis Cass Ledyard, IT,, counsel for the executors. It was an- nounced that the valations of the ex- perts named by MT. Quinn would be accepted by both parties.
 There is involved here" said Mr. Quinn; "a very large amount of req! estate and a large amount of per- sonal property. The number of ap- praiSals of real property of every kind and value were such that I have too large task for any one apprais- CT to appraise all this property, and the property has been classified in such a way as to get the best fairest and most equitable results, instead of having one man attempt to appraise it all."
 Mr. Quinn explained that it had been decided to divide the real estate into four sections, the first comprising the properties on Broadway, upper Broad way and on either side of Broadway between Eighth and Madison avenues; the second, the tenement property on the lower east side; the third, all west side property, including dock property, and the fourth, Bronx realty
 %hn 1or $, "tne executors representing the es- tate would have the right to have the property appraised by their own ex- ports and to submit theirown statements of values. I have advised the Comp troller that he should in such cases have his own independent appraisal by, his own appraisers, which would, of course, have resulted in two sepa- rate appraisals with a strong proba- bility of differences between the two, and probably a third appraisal before a final result should be arrived at.
 "I have therefore reached tenta- tive agreement with the attorneys for the estate, subject to the approval of the appraiser, to have all the prop erty appraised by the best real estate that can be secured"
 Robert E. Bowling, the President of the City Engraving Company, had been selected. MT. Quinn said, to appraise the Broadway properties in the Broao- way division; c. W. Eckert of Horace $. Ely & Go, the east side properties; Clarence, J. Ramsay of Cruikshank 6S Co the west side and dock proper ties and Joseph P. Daly, the holdings in the Bronx.
 MT. Quinn said it had been agreed between the State Comptroller anu the executors that the reasonable eX- penses of the appraisal should be borne equally by the State and by the Astor estate.
 sThe method suggested to the and which he has ap- proved,' MT. Quinn continued, will save the State one-half the expense If employing experts to appra1se these properties from the States point of view only. The estate has agreed tQ pay one-halt the expenses or tnls ap- oraisal.
 'In this way the appraisers in ev- sry case, nominated by me, acting on behalf of the Comptroller, and ac- ,epted by the State, become neither he special representatives of the State or the purpose of arriving at the just 1 7alue of this property, and are not n any case partiSans of either side 1 put become officers of the court"
 MT. Quinn said that Edwin c. Hill | ton, connected with the firm of | had been appointed to l ,a1ue the works of art in Col. Astor's l houses; Benjamin H. Herts of Herts | Brothers Company, the furniture and | lntiques, and Hiram M. Knapp of | Sheppard Knapp & Co.,, the rugs and | MT. Ledyard said the exc | tutors would be satisfied with the l judgment of these experts
 MT. Quinn said he believed the ap- | ,raiser would be able to file his re- ,ort in less than six months. Eg