The Birmingham age-herald., 1913-08-26
Estate May Have to Pay
Pay$5, 100000 Inheritance
Tax to New York
GOT MONEY THROUGH
LEGISLATIVE FAVORS
Brady Is Apparently One of Few
Rich Men Whose Wealth During
Lifetime Was Greatly
Underestimated
BY HOLLAND.

New York, August 25.-tSpecia1A-
Whether the late Anthony y. Brady left
an estate of S0.0O00O0 or of $3o000,00O or
of larger amount or smaller than either
of these estimates will not be known until
the official appraisal of the estate is
made. But in well informed circles the
belief grows that Mr.. Bradys estate will
be found TO be in excess of $4,000. .O00 His
lifelong friend, Morgan ]. O'Brien, who
would now be United States senator in
stead of Senator O'Gorman had he beer.
willing that his name be brought before
the democratic caucus at Albany, is to be
the chief legal authority in the admins
tration of the estate Judge O'Brien q
personal friends have suspected from,
something which he has said that is VIII
moi astonish him IL the estate is found TO
inventory as much as sl000Oo00O.
In the Wall street district where Mr..
Brady was well known sl00oOO,0Oo or ap-
proNimately as large a sum as that is
mentioned as the probable value of his
estate.
Mrs. Kingley's Estate
II the appraisal should show that these
estimates are fairly accurate. then of An
thony Fl. Brady II can be said that he
was one of the few men of wealth In New
York state whose accumulated fortune
been much greater than the estimat IS
made of his riches while he was alive.
1t is usually the case. that estimates ct
great fortunes are exaggerated. and there
was proof of this tendency only a day or
two ago when the report of the appraiser
upon the estate of Mrs. Sarah Kingsley
was made. Mrs. Kingsley was a widow OF
William c. Kingsley. He was esteemed
in his lifetime to be one of the very ricn
men of what used to be the city of Brook
lyn. His influence, both in financial ana
in political affairs was great and some
times paramount. He was thought TO
have accumulated fortune of at least
S., eco 900. As he was one who foresaw
the growth of Brooklyn and had good un-
derstandng of what the increase in real
estate due to the construction of the
Brooklyn bridge and of the Brooklyn
rapid transit system would be an estimate
of 100000 as that of his wealth was not
thought to be exaggerated.
But apparently 1t was heavy overesti-
mate His widow, to whom the greater
the appraisers TO have an estate of a lit
tie over $4,000 and about half of this was
represented by seven shares of stock OF
the Brooklyn Daily Eagle newspaper.
To Get the Rebate
| 1t may be that those who administer the
estate of Anthony N. Brady will think i
worth while to make preliminary and
partial payment to the state on account
! of the inheritance tax. But something
which Judge O'Brien is reported to have
| said although not in connection with the
Brady estate, suggests that he doubts
whether there is any pecuniary gain
| through the payment OF anticipatorS
taxes to the state. For instance, If d
large sum-say, half million dollars
were to be turned over to the state treas.
urer as part payment on the inheritance
| tax charge, 8 per cent rebate or discount
! would be allowed. But under skillfu
handling, such as men competent to ad.
minister as great an estate as Anthony
n. Brady's, would be likely to adopt $500
| COO could so be utilized as to earn at leas
! 5 pei cent.
Recently 1t has been observed that thoss
who have administered large estate ar,
| beginning to doubt whether 1t is reall,
worth while, from the point of view o
saving, to make preliminary payments L
the state upon Inheritance tax charges
In normal times money COulQ earn aDO0
as much as the rebate offered by tn,
state.
The Brady Inheritance Tax
One of the reasons why comment in wei
informed circles mentions s10OOO0,0OO as th'
probable estate of Anthony N. Brady Il
the report, which seems to he semi-authori
tative, that the state is likely to receiv,
ultimately as much as $5.000,000 as the in
heritance tax upon the Brady estate.
The estate will not be compelled to pa,
charges made by other states in m.
amount similar to those which the estate
of other men of great wealth have beel
obliged to pay. The relations between
Anthony N. Brady and the late Hugh J
Grant, and this neighborly relato
for some years very close One of Nh
Bradys most intimate business friends
the man perhaps who aided him NOR
than any other, excepting perhaps the la +.
Gov. Roswell p Flower. at the time II
began his greater business career. wa
the late Edward Murphy Of Troy. VIII
was at one time the colleague of Davi
b. Hill in the United States Senate. NJ
Murphy was the father-in-law of Hugh .
Grant and this neighbroly relatio
brought the two men. Brady and Gran
at one time into somewhat intimate bus
ness associa ton. Mayor Grants estat
was one of the few which was und~est