New Britain herald., 1916-07-29
]. PIERPONT MORGAN
 LEFT $78,l49,O24
Bankers Estate Worth Much Less
 Than Was Anticipated

tax appraisal of the estate of J. Pier 1 pont Morgan, who died on March 31, 1913, was filed today by Deputy State Controller Boardman and shows that . the gross estate left by MT. Morgan l is valued at s7S,149,O24, or more 1 than $25, 100000 less than he was 1 supposed to have had.
 The report which was signed by ! Appraiser John J. Lyons, finds the value of MT. MOrgan's interest in J. P. Morgan & Co.,, of New York and Drexel & Co.,, of Philadelphia at $29,- 875, ,S47. The appraiser states Spe- officially that this interest includes MT. Morgan's share in the good will of J. P. Morgan & Co.,, lat its fair mar ket value of the date of the oe- cedent's death.' The valuation of MT. Morgan's interest in his firm was accepted by John w. Hutchinson, Jr., special counsel for the state control Ter, as the result of the following stipulation:
 Tt is hereby stipulated between the parties hereto that John w. Hutchin- sonson,~ ,~Jr., Esq, the attorney for the comptroller herein, has personally ex- amined the books and records of the firm of J. P. Morgan & Co.,, and has ascertained that the same show that the interets of said decedent and of his estate in the firm of J. P. Nor gan & Co.,, was the sum of $29, ,375,- 847.77, as stated in the affidavit of John Pierpont Morgan, verified the 22nd day of May, 1916, and the affi- davit of William Pierson Hamilton, verified the 14th day of June, 1916. and heretofore filed herein, and that the interest of said decedent and of his estate In the firm of Drexel, Nor gan & Go. Gin Hquidation) was the sum of $15,5S0, as stated in the af- fidavit of John Pierpont Morgan veri- fled on the 22nd day of May, 1916, and heretofore filed herein.
 Tt is further stipulated that said John w. Hutchinson, Jr., has ascer- tained by personal inspection of the said books and records that the same show that at the time of his death said decedent was indebted to the said firm of J. P. Morgan & Co.,, in an account known as Account Mo- 4" in the sum of s1,497,772.6O and in a special account in the further sum of $2, ,201.36, as stated in an affidavit of John Pierpont Morgan verified on
 
 tofore filed herein.''
 The affidavit submitted by the Nor gan estate as to the decedent's inter est in the firm was made by William Pierson Hamilton, one of the execu- tors, in which he said:
 Affidavit of Executor.
 William Pierson Hamilton, being duly sworn, says that he is one of the executors of the last will and testament of J. Pierpont Morgan, de- ceased, who died on the 31st day of March, 1913, and that said decedent and deponent were on said 31st day of March, 1913, members of the firm of J. P. Morgan & Co.,, bankers, do- ing business at No. 23 Wall street. New York city; that deponent had personal charge and custody of the books of said firm in which were kept the partnership accounts of all of the mem bers of said firm; that it appears by said books that the value of the interest of said decedent at the time of his death, and of his estate In the said firm, amounted to the sum of S29,875,S47.77 and that the sum of S29,875,847.77 has been or will be paid to the executors of the estate of said testator, or uponAtheir order and by them received in full payment and satisfaction of the interest of said tes- tator and of his estate in the said firm and that no other or additional sum was or is payable, Or will be paid to said executors, or to any other person, by reason of the interest of said testator or of his estate In said firm
 Many Richer Men.
 On the basis of the report signed by Appraiser Lyons, MT. Morgan, wnu was believed to be one of the richest, if not the richest, men in the United States because of his financial ac1ivi- ties was worth less than many other wealthy men whose estates have been passed upon by the tax appraisers. It is much less than the estate of John Jacob Astor, who had $85,311 ,228, and his net estate does not equal that of Anthony N. Brady, who left $77, ,O42,- 443. The estate of John $. Kennedy, also a banker, but who was little known compared with MT. Morgan, amounted to $67,137,735. The +. H. Hartman estate was $58, 100000.
 MT. Morgan's securities were ap- praised at more than $18,OO0,OOO but the list of stocks and bonds attached to the report shows that more than $7,000,000 par value of stocks and, half a million dollars in bonds were worthless. MT. Morgan's net estate was 68,384,68O, to which was added a trust fund of $1,115, 5,052, set aside for his wife by his father, Julius s. Morgan in 1887, which made the total | property bequeathed by MT. Morgan s69,499,732. Of this amount the be- quests to his son John Pierpont Nor gan, aggregated $53,684918.