Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-07-29
VINES WORTH S44,743
| IN s7S,OOO,OOO ESTATE
| OF LATE J.P. MORGAN
Dead Financier's Holdings in
New York Concern and Drexel
& Co., Philadelphia, APP
praised at $29,875,847
REPORT ON FILE TODAY
Eloquent Figures Speak
of Morgdn's Vast Estate
s7s,I4s.024

NEW -oRK, July 29.-The transfer tax
npprR i of the estate of ]. P. Morgan,
who lied March 81, 1919, will be filed
today by Deputy State Comptroller Board
man and will show that the gross estate
lef Mr.. Morgan is valued at $751;
f4s,O2i.
The repoN which was signed today by
Appraiser John J. Lyons, finds the value
4 Of Mr.. Mcrgan's interest in ]. p. Morgan
I z Co, of New York, and Drexel Co., OF
\ Philadelphia, at s29,s75,s47. The ap-
prsiser states specifically that this interest
Includes Mr.. Morgan's share In the good
< will of J. p. Morgan & Co. at Its fair
market value as Of the date of the deco
dept's death" The valuation Of Mr.. Nor
e interest In his firm was accepted by
John w. Hutchinson, Jr., special counsel
for the State Comptroller, as the result
Of the following stipulation:
at is hereby stipulated between the par.
ties hereto that John W. Hutchinson, Jr.,
ESQ, the attorney for the Comptroller here
in, has personally examined the books and
records of the firm OF j. p. Morgan & Co.,
and has ascertained that the same show
that the interest of said decedent and Of his
estate in the firm of ]. P. Morgan & Co.
was the sum of S29,875, 5,S47.77, as stated in
the affidavit of John Pierpont Morgan. veri.
fed this 22d day Of May, 1916, and of the
affidavit of William Pierson Hamilton, veri-
fled the 14th day Of June, 1915, and hereto
fee filed herein, and that the interest of
sali decedent and of his estate in the firm
of Drexel. Morgan & Co. lin liqudation) was
the sum of s15,5s0, as stated in the affidavit
of John Pierpont Morgan, verified on the
2gd day of May, 1916, and heretofore filed
herein"
SECURITIES VALUED AT $4,000, 900.
Mr.. Morgan's securities were appraised
at more than S18,000.00 but the list of
stocks and bonds attached to the report
shows that more than S7,000.000 par value
of stocks and half n million dollars in bonds
were worthless. Mr.. Morgan's net estate
was $6s,384,680,, to which was added
trust fund of s11.115,o52, set aside for his
wife by his father, Junus S. Morgan. in
1867, which made the total property be-
queathed by Mr. Morgan s69,499,732. OF
this amount the bequests to his son. John
Pierpont Morgan, aggregated s53.6S4,918.
Mr.. Morgan's debts were S7,296,538. He
owed his firm $2,162,201 on one account and
31,497,772 on another. The other deductions.
which reduce his net estate by nearly S10,-
100000, include commissions of S2,226,345
payable to the executors and administration
expenses of $241,459.
Wines family portraits and jewelry
given to his son are valued at s104,791
other items are the yacht Corsair and full
equipment, S135,O0o; Chinese porcelains,
s2,17s,32O; paintings, $3.6372oO; tapestries,
rugs, carpets. art objects, $2.822, 900;
watches, $174,45o; Jewels and jewelry,
p6fJ,oUUI lNOTleSI DTOHEeb1 CdENcu WOOui
marble, objects in glass, metal. stone,
silver and ancient Jewelry, s4,666,365;
books, manuscripts and prints $4,O96,666.
The total value OF books and manuscripts
Is placed at $3.72s,004. The most valuable
item in the collection of watches was a
small one covered with pearls appraised at
$4,000.
The contents of his wine cellar were val
ued at s44.743. the net value being reduced
10 S38.03S. as Is per cent was allowed for
leakage. One item shows the financier had
cigars valued at $3.50 at HIS Wall street
office.
Morgan investments were spread out over
$50 stocks and bonds. He carried only 1904
shares OF New Haven, no International Mer-
camille Marine. only one share of Steel pre-
ferred and 500 of common, eight shares OF
Baltimore and Ohio preferred and two COM
mon no u. G. I.
The only Philadelphia stocks he carried,
according to the list, are 80 shares of Com
mercial Trust Company and 100 shares of
Fourth Street National Bank. He carried
no International Mercantile Marine or New
Haven bonds.
SOME OF LARGEST HOLDINGS.
The appraisal of Mr.. Morgan's securities
shows that his largest bond holdings were
n s1.500.OOo issue of Atlantic Coast Lumber
Company debenture bs. and appraised at
S1,290,OO0 and $1.162,000 OF New York
ucpcHluTc appEdiSou ~ SlIufOI-
500.
The most valuable stock holdings were
as2 shares Equitable Life Assurance So
ciety. s1,12s,OOO; 2SoO shares Bankers
Trust Company. s1.1so.OO0. and $500 shares
OF the National Bank of Commerce. ST.
ao5.Ooo.
on the basis of the report signed by
Appraiser Lyons. Mr.. Morgan. who was
believed to be one of the richest, IL not the
richest man in the United States because
OF his financial activities. was worth less
than many other wealthy men whose es-
tates have been passed upon by the tax
appraisers.
It is much less than the estate OF John
Jacob Astor, who had ss5,311,2 ,22s. and his
net estate does not equal that of Anthony
N. Brady, who left S77,0424s3 The estate
of John g. Kennedy, also banker, but who
was little known compared with Mr.. Nor
gan, amounted to y67,137735. The L. H
Hartman estate was 5s.O00.000.