The sun., 1915-10-15


holds Warner NJ Van Norden response
hle for an Indebtedness o. So .0O0 900 to
his father. II he l. ever able to pay
a sufficient amount OF the deb. TO wipe
out the large deficit of the estate and
leave net estate large enough to be
subject to "A transfer tax. the proceed
iurs viii bc reopered. The appraiser
suspended a tax on this amount until
that time.
Pro>isionS Of VIII.
In mis- will Mr. Van Norden gave
81, 600 to Miss Virginia l.. Titus or 10
Lexington avenue. who was described as
my faithful secretary for twenty years
whose health is now impaired Inc
entire residuary estate was left to the
daughter, Cora l.. Van Norden.
clauA. Of the will devoted to the son
Warrer. stated that all his debts up 10
$500. .O0O were cancelled, but he was d.
rect,d to pay back this sum when ne II
able. II he pays anything the amouht
= to l.. divided betwe the daughter
T and son Theodore.
MIR. Van Norden said he bequeathed
nothing more to either son. because
3 they had already rec lived more thai'
he had left The report shows that even
. II the $500, 900 Is repaid II Will Dareiy
wipe out the deficit in the estate.
ON, SURPRISING feature of the report u
. that the Van Nordcu residence at Eas'
. Sixty second street and the garage NJ
~ East SiNty-second street were
inortgagcd FOR more than sl"n.UOo in ex'
,..ss az their value. The residence was
appra sod al $4,000. hut two mortgages
ON the property. including interest
amount 20 s25l $50. The garage. ap
urafs,d ut s35. .OUo. Is subject to foui
MORTGAGES totalhng S39,2l1. These two
par.rls constituted the bankers only
realty holdings.
\ schedule of the personal property
showed that the only securities owne'
hv the banker. which had any value
wcr. in small lots. worth only few
thousand dollars. Among those toun'
to- br Nauelcss We're 23s shares of com
mon stock. ~ shares second preferre'
and 9o2 shares third preferred stock o
the Land and RIVER Company; 1000
shares Empire Consolidated Mininl
COMPANY. 9go shares F.fth Avenue rs
tatrs. 600 shares Consolidated Steam
shin Lines. - shares Van Norden Trus
company. - shares Twelfth Ward Bank
ls6 shares Holland Trust ComIanyii am
80 shares Of ;hc Real Estate Compan.
.: America.
Notes Given bS son.
The notes uf Warner NJ Van horde,
,mad. hy himself, were the following
july \. 1908. si3i,25O. August %. 1905
S2g3..1O: AUGUST 90. 1905 10000; De
cembcr II. 1909. S1OU0o. and Februar
=, 1910. $iUnUoO. The following note
were made for his benefit by his wifi,
Grace Il. Van Norden: Apri %, 1905
Sl7O.0OO. May =, 1909. 5000 900, Th
following notes We're executed by dunn
mics for Van \ordcn and repres-nte
loans to him. W. W Robinson. clerk /
Equitable Trust Company siso,0oo; o
December -, 1905. Lazellc. Mathews
GO, Warner VI. Van Norden's brokers
G0.0O0. j. y. Poster. broker. not
dead. >l55, 1000. and g \. Fisher, cler
in Equitable Trust Company, $780,
The gross personal estate Of sN4,96
included nine accounts in savings bank:
ranging from 500 20 $500 each.
Among the debts cf the estate is s45
To- the Fifth Avenue Presbytcria
church. whore the banker was one
the elders. for pew assessment. otht
debts were; Nineteenth Ward Bank.
which Warner NJ. Van Norden was pre-,
; idcut SlIa,3TS for loans liability to III
bank ON account of the debts of Warns
NJ. Van Nordeu. watch the decedei
; guaranteed. S226,i37: Irving Nation!
Bank. liability of S23.>i0 on four not.
of Warner VI. Van Nordrn: deficit
mortgage on residence, sl0l ,657, and d,
tclt Of mor,g gage on garage, s26,7l7
Theodore /. Van Nordcn the banl
er's son and executor, who was que
toned at length concerning the estat
said that his father borrowed s2j00t
on the house appraised at only Sl50,0,
! because 1T was his home and he thougl
the value would probably increase
that amount" The executor said