The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-20
tom l, JOHNSON LEFT
ESTATE OF $9O,SS1
Appraisal shows Heavy Losses
in Traction Stocks Pledged
for Debt.
WIDOW CLAIMS $4,000
Says Notes in Safe Deposit Rep
resented Sale Of Her Cleve-
land Home.
WIDOW CLAIMS $4,000

An appraisal nled Yesterday OF the es-
tate of Tom l.. Johnson. for many years
Mayor OF Cleveland. shows that when he
died on April TO- 1911 his property con-
sisted OF real estate In Brooklyn. left TO
him by his mother, Mrs Helen l.. Johnson
OF his equity in bonds OF the New Jersey
and Pennsylvania Traction Company, "A
johnson promotion. then being reorgan-
tied and Of income due him from the es-
taes of his mother and brother. Albert
H. johnson. Of which he was executor.
Mr.. Johnson's total realty holdings were
appraised at $l70.65o. subject TO an in
debtedness of $14,050 and other deduc-
tons. making the net value of the prop
erty S5s, $50. His net personal estate was
s33,9O6, and the total net estate was
s9OSsl The estate went In equal shares
to Mrs. johnson and her two children.
Mrs Elizabeth johnson Kiliani and Loftin
+. Johnson.
Mrs, johnson and Charles NJ. Bates of
Trenton, n. j., for many years Mayor
Johnson's secretary, who are administra-
tors. testified before Transfer Tax APP
pruiser Coggey that Mr. Johnson owned
62l bonds, Of a face value OF $1,000 each,
and ss.53s shares of stock OF the New
Jersey and Pennsylvania Traction Com
pany. and that these securities had all
been pledged for the payment of notes
either made or Endorsed by Mr. Johnson
to various bankers in New York and else
where. The amount of these notes. with
interest 30 February I, 1912, when they
were paid off. was s420,91l.
The administrators said that in Janu-
airy, 1912, the creditors committee of the
railroad company, of which President Can
non of the Fourth National and +. H. Con
and ]. K. Mutt OF Cleveland were MEM
bers, negotiated "a sale OF these pledged
securities together with those belonging TO
persons other than the Johnson estate
| to IA Philadelphia syndicate. which paid
| 1921 900 for them to the creditors COM
| mittee. For all Its holdings the johnson
| estate got only $l4,71o. after all the
claims had been paid. and of this sum
$3.50 was held to pay further claims
| that might be presented.
| Mr.. Johnson's debts included mort
gage of $4,000 made to Henry George,
Jr.. and others In 1908. a balance OF s40.-
600 due on "A mortgage of $4,000 on his
mothers property assumed by him and
n mortgage OF $4,000 made by Mayor
Johnson individually and as executor un-
| der his mothers will.
Appraiser Coggey took much testimony
| as to the ownership of the contents OF q
| safe deposit box in the Mercantile Safe
| Deposit Company. standing in the name
OF trustees appointed by the decedent.
This box contained $4,000 Of notes made
by Morris and Joseph Glauber. who
bought the Johnson residence on Euclid
avenue. Cleveland, and other property In
1910. Mrs johnson claimed all the prop
erty in this box. on the ground that the
property was bought for her with her own
money.
The testimony showed that before
Mayor Johnson died he put the $4,000
received for his wifes property in the
hands OF trustees, but after his death
Mrs. Johnson sought to take possession
of the contents OF the safe deposit box
A suit was brought. which was finally
settled when Mrs. johnson agreed to talk,
the income OF the property during heI
life time, and her children are to have
the income on her death. The principa
Is then to go outright to Mrs Johnson'i
grandchildren. Two OF the trustees o.
the fund are Newton ID. Baker. nov
Mayor OF Cleveland. and Charles W
stage. political associate of Mayor
Johnson for some years.