Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-05-23
LARGE INCREASE
IN ESTATE Of
PHIL n. JACKSON
Fidelity Trust Company Ac-
counting Shows Gain of $34,-
900 in Principal Account.
TOTAL PRESENT VALUE
Is MORE THAN 500, 900
Figures Include UnsoId Real Es-
tate Estimated at 100000.
Chaotic Conditions Overcome.

AS executor of the will and trustee
+, local real estate operator, financier
and electric-light and power magnate,
who died several years ago, the Fidel-
ity Trust Company today filed In the
county surrogate's office another in
termediate accounting showing that
in the past year it has increased the
principal account by $34, ,287.12, MAX
ing the present balance s4O5, ,761. so.
The income account shows a balance
of S6,342.16 as compared with $509. 9.53
one year ago.
Under the practise in such matters
the unsold real estate belonging to
the estate is not included in the ac-
counting 1t Is said, however, to
amount at this time to approximately
100000. Assuming that to be so and
adding those real estate figures to
the principal account, it would bring
the total present value of the estate
up to sos, ,761.6O. According to the
terms of Mr.. Jackson's will the in
come from the estate is to be paid to
his widow and to his children. After
the death of the widow, who has since
remarked, the will provides for the
distribution of the estate among the
testator's family and relatives.
When the Fidelity took charge of
the estate it was in a chaotic condi-
ton. In some particulars Mr.. Jack
sons affairs were so confused that for
time his intimates were of the opin-
ion that little, If anything, in the way
Of balance would be found on the
right side of the ledger. 1t, however.
did not take long for the Fidelity ex-
perts to straighten matters out, and
with its large resources. judicial finan-
cial surgery and investment oppor-
tunities, 1t speedily put the estate
upon a sound basis. Since then the
trust company has sold much of the
testator's unproductive property, i'm
proved other holdings, and rented,
places that in his time were unoccu@
pied. 1t has also re-invested large
sums of money in safe and more
profitable securities than some of
those which Mr.. Jackson had.
Better Than Ever.
AS a result of all this the ,volumin-
Gus detailed accounting filed today
shows the estate to be in better con-
dition than II ever was before. When
the last previous report was filed
year ago, the total in the account of
principal was ss92, ,12760. Since then
payments received on account of sales
of some of Mr.. Jaokson's property
amounted to $342S712, bringing the
total up to $426, ,414.72. Out of that
account disbursements amounting to
$40, ,65312 were made by the Fidelity
fny toy taf fa mi Ice aN-
ecutor's commissions, ETC., leaving a
balance of $405, 1880.
Items covering five closely type
written pages and ranging in amount
from So to nearly $4,000 make up the
income account, which shows total
of S39, 257 IL. In that account at the
time of the last accounting, the bal
anee was $50953. 1t has since been
increased by payments on real estate
sales, interest on bonds, dividends on
stocks and rents from various proper
ties belonging to the estate. Pay
ments from the income account to the
heirs and for taxes, water rents, in
terest, repairs to property, commits
sions, etc, amounted during the year
TO $32, ,S14 rs, leaving in that account a
balance of s6S4216. It is shown by
the accounting that during the year
a substantial increase has been made
in the income of the heirs.
$251,973 In stocks.
With regard to the present status
OF the estate a lengthy schedule is
made part of the accounting. This
shows that exclusive Of real estate
the estate at present is made up of
-S251, 1913 in stocks and bonds-more
than half of which Is Public Service
Corporation stock-$140.b00 in mort
cages, $500 in real estate acquired
under foreclosure of mortgages s3, 400
in notes, and s2,Ss7.60 In savings banks
and cash.
Upon the showing made in the ac-
counting, which is signed by Edward
A. Pruden, trust officer Of the Fidel-
ity, .,A4d which now goes before the
Orphans Court for confirmation, the
trust company asks for commission
on $27,71712 inthe principal account
and on $S6,611.37 in the income ac-
count.