The Washington herald., 1912-10-14
ASTOR ESTATE CUT.
His City Realty SG2, $4,000 Ia
stead Of 800, 900 900.

HIS city Realty SO1,HoOsOOO H.
stead Of 800, ,O00, 900.
It Is the best guess Of the executors Of
the estate Of Col. John Jacob Astor that
hts estate Is not worth more than $so0Oo,-
600. instead of the much larger estimates
heretofore made. Their opinion took the
form yesterday Of q certified check for
g. $50 900 sent by messenger to State Comp
troller sohmer In Albany for the account
| Of the inheritance tax due in New York.
The law provides for q rebate Of per
cent Of the tax on payments made within
six months Of the death Of the testator.
That time will run out in the Astor and
other Titanic cases next Tuesday. Oc-
tober Is No report has yet been made
on the estates OF the other victims Of that
disaster.
Estimates in excess Of 81, 900 900 and fall
ing to heirs in direct line. like Col As
tors. pay an inheritance tax OF 4 per
cent to the State On this basis yester-
days check represents a principal Of S7s.-
80. .o0O Newport property. not assessable
here. raises the total estimate TO $50. 000.-
00o.
Yesterdays payment Is the largest in
heritance tax paid on a single estate in
New York since the enactment Of the law
twenty-seven years ago. 1t Is nearly one
third as large as the entire tax collected
in the fiscal year ended September 30.
Tentative appraisements Of Col Astors
real estate in the city aggregate ss2.&O!0oo.
These holdings had been popularity sup
posed to be worth 800. 0OO.oO When final
reports are in and hearings are held to
determine exact values comparisons may
be made between the figures in the city
tax books and those Of outside experts.
Robert f. Downing. Of the City In
vesting Company, Is apprais!rg the
critics and those lying on either side Of
Fifth Avenue between Madison and
Sixth Avenues. His preliminary report
shows q total OF about $54.0oo.oo0
Before undertaking this work Mr..
DowlinK went to the ONCE OF the Astor
estate for surveys to mark the exact To-
cation of each parcel of land. taxes and
other expenses Of maintenance and the
rentals received. in order to figure the
net income. He found that the estate
had been content to do business by keep
ing leases in strong boxes and record
ing everything else In account books. A
few city maps furnished the ONCE with
all its requirements in the matter OF
reference. Mr.. Dowling Is preparing de-
tailed maps Of every piece OF land which
he has compiled in handsome books.
SIdTeHCe j. fSAmstS' VI tHe
shank Company. was appointed to ap-
praise the West Side properties. includ-
ing docks. His estimates amount to
about S2.760.o00. Clarence W. Eckhardt.
Of Horace 8. Ely & Co, appraised the
East Side properties at about slsao.o0o.
and Joseph P. Day figures the Bronx
lands at A5so.ooo. All these appraisals
are subjected to revision.
Tentative figures on the value Of paint
ings. engravings. miniatures statuary
and bronzes In Col. Astor's Fifth
Avenue residence and in his country
house in Rhinebeck were made by Ed
win c. Holston. OF Durand. Ruel &
Co. He figures them worth $4so.0Oo Ben
jamin H. Herts. Of Herts Bros. & Co.
has appraised the other personal proper
ty Of Col. Astor in his town and coun-
try homes at sss7.sS5. Hiram X. Knapp.
Of Sheppard, Knapp & Co. is appraising
the personal property in the St. Regis
Hotel. He has not yet finished. but re-
ports that the appraisal will be between
S500 OO0 and S6D0 0O0