New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-05
DEBTS WIPE OUT
DR.. ENO'S ESTATE
BROTHER of Amos, Whose
sI5,OOO,OO0 Will Was Con-
tested, Lost in Realty.
FIFTH AVENUE HOTEL
PART OF HERITAGE
Annraisals Show He Lost Heav-
ily in Erecting Office
Building on Site.

Or. Henry Clay Emo, brother of
Amos F. Emo, whose will, disposing Of
q, estate valued at about sl5.O00.000.
w,s contested in the Surrogates' Court
few days ago, was not as fortunate
in his investments as his brother. He
died insolvent on July l6, 1914.
The brothers were sons of Amos r.
Emo. and each received share in the
estate.
Or. Emo received as part Of his share
the property on Fifth Avenue, extend
ing from Twenty-third Street to Twen-
ty.fourth Street, on which formerly
stood the Fifth Avenue Hotel and the
Madison Square Theatre. DR.. Emo had
these buildings torn down and erected
the Fifth Avenue Building. In the en-
terprise. the transfer tax appraisal of
his estate fled yesterday shows, he
lost the greater part of his fortune.
He owned 10000 shares of the Fifth
Avenue Building Company, with a par
value Of 500 each, or $1,000, 900. In his
testimony in the transfer tax proceed
garded these shares as worthless.
Had s292,Ol2 Assets Here.
The Fifth Avenue Building Company
was indebted 70 Brown Bros. & Co. to
the extent of 100000 on notes which
were Endorsed by DR.. Emo and his son.
The loans were secured by second
mortgage on the Fifth Avenue Build
ing.
A net value of s292O12 was placed
on the New York assets of DR.. Emo by
the appraiser. DR.. Emo was resident
Of Westport, Conn. The assets taxable
in New York are residence at East
SiIty-frst Street, appraised at $780,
600; premises II East Sixtieth Street,
$4,000; contents of residence, collec-
ton of books and prints and collec-
tion Of book plates, S5l 900, and silver
ware, $500. All of the New York realty
owned by DR.. Emo and some of his
personally was conveyed by him 70
Brown Bros. & Co. as additional secur-
ity for notes. This property was placed
with the United States Trust Company
10 be held until the notes were paid
or the property was sold. All the
money thus raised by Or. Emo was used
70 carry the Fifth Avenue property.
Debts More Than Estate.
Since the death of DR.. Emo realty
owned by him at Bar Harbor has been
sold for $4,000, the proceeds being
applied to the payment of the notes
held by Brown Brothers & Co. An
item that was not taxed was q bond
for $4,000 made by Joseph J. Ash,
secured by a second mortgage on the
Ash Building at Washington Place and
Greene Street, where a fatal fire &C.
Cured few years ago. This bond
and mortgage we're assigned to Henry
Lane Emo at the request of the son
and also because DR.. Emo was a friend
of Mr.. Ash and did not wish TO press
the claim. II was finally settled for
$4,000.
Among the personal effects was a
United States marine permit" signed
By Thomas jefferson, valued at $780,
color print. Bloody Massacre"
originally engraved and sold by Paul
Revere" $3.50; a rare edition Of Ben
jamin Franklins works, l76S, $780, and
several paintings, including a marine
canvas By Van der Heyden, appraised
At $3.50, and a panel by Van Elben,
$500.
Henry Lane Emo was the beneficiary
under his fathers will. The debts of
DR.. Emo amounting TO more than the
estate. there will be nothing for the
son. The latter is also legatee under
the will Of mis- uncle, Amos +. Emo, and
is one of the nephews contesting his
Will.