New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-30
CUTS STOCK CLAIM
OF MRS. PULITZER
Referees Report Also AL
lows Sons to Retain
Newspaper Holdings.
WIDOW GETS PART
OF ELECTRIC AWARD
Extension of Time Granted in
Sale for Taxes-Want to Hold
Dailies in Family.

Several disputed points in the first
accounting of the estate Of Joseph Pull
itzer are Strengthened out in the report
of Phoenix Ingraham, appointed as ref
cree to pass on the accounting of the
executors.
Perhaps the most important OF these
questions is one brought Up by Mrs.
Kate Davis Pulitzer, widow of the pub
Usher, in which she is only partly sue
cessful. This affected the disposition
of 500 shares of General Electric stock,
representing a stock dividend. Mr.. Pull
itzer set aside 1000 shares of this
stock, valued at Sl6S a share, in the
trust fund created for his wife. Upon
these there was paid the 500 shares as
a stock dividend. which Mrs. Pulitzer
contended should be regarded as in
come on the 1000 shares in the trust
fund and 20 10 her, instead of being
/ considered part of the principal and
I added TO the trust.
The referee decides that 496 of the
600 shares should be regarded as prn-
cipal and the remainder as income.
The report also shows the efforts of
! Ralph, Joseph and Herbert Pulitzer,
sons of the late owner of "The New
York World" and THE st. Louis Post
Dispatch" TO prevent stock of the two
corporations passing out of the fam
! ily Ii was decided that the trust sund
consisting of all of Mr.. Pulitzer's stock
| in the two newspapers must bear its
share of the transfer and inheritance
taxes in New York and Missouri, the
two amounting TO more than 100000.
Having found il necessary to sell
| StOck of tho ppWspanpr porpOrafiOns
meet these taxes, the executors asked
/ for an extension of time for the sale
| and the referee gave them until Sep
1 TENDER.
{ Ralph and Joseph Pulitzer. anxious
/ TO keep the stock in the family, wrote
a letter to the trustees offering 70 pur-
chase it. At the same time they invited
/ their brother, Herbert Pulitzer, to take
third of the stock sold. In the let
ter they said the offer was made "in
order that interests in harmony with the
/ policies of the trustees of the trust
! should be the purchasers of the stock
and that no outside interests were
! likely to become intimately interest and
! in accordance with such policies and its
continuation as the undersigned and
/ our brother Herbert"
It was further stated by the two
9 brothers that a public sale of the stock
would be detrimental to the interests OF
/ the trust, and in the case OF the Press
Publishing Company ("New York
World') might very seriously initiate
against the strong wish and purpose as
expressed by their late father to US in
his lifetime and reiterated in the codl-
Gil of his will"
The offer of the Pulitzers to buy the
stock was accepted by the trustees and
their action was approved by the ref
cree. The Pulitzer brothers received an
extension to September q to carry out
the agreement, which calls for a pay
ment of S60450 a share for THE
World" stock and Sl2L75 for "The
Post-D Dispatch stock.
Joseph Pulitzer, the son of the late
publisher, applied to the trustees for
An allowance of $4,000 a year for his
son Joseph Pulitzer, Sd, now two years
/ old. The latter was not provided for
/ directly in the will. The trustees APP
proved this request, but the referee has
| decided that $4,000 year Is sufficient.
However, in the case of Mrs. Edlth
Pulitzer Moore, daughter Of the late
Joseph Pulitzer, her application for
$4,000 year for her son, Clement Clark
/. Moore, eighteen .lonths old. was al
, lOWed on the SIouHu tudt ohc Gnu ~
husband. William G.. Moore, ARE not
financially able to support and educate
Clement Clarke Moore, according TO his
. station in life"
I Mrs. Constance Pulitzer Elmslie, an
other daughter, asked for $4,000 a
year for her daughter, Cynthia Pulitzer
! Elmslie, which the referee scaled down
to $500 =. year.
The principal account, as shown by
the accounting, originally consisted OF
securities appraised at sl4,S62 ,oO4
which has been increased to S15,94O, 4O4
The principal and income of some OF
the trusts are: widows trust, principal
S3,5l8,3l6; income, S244,625. News
paper trust, principal, s4.132,172; in
come, S2,180,172. School of Journalism
trust, principal, sl,062, 623; income
1928. E.siduary trust. principal
S2,580,0O0 income, s262,5s5.