New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-28
'Archbold Left
Net Estate of
S38,498,247
Executors Had Paid State
Levy on Estimated Value
of $3O,OOO,O00
Much Wealth in Texas
Transfer Tax Appraisal Filed
in Surrogates'
Court
Much Wealth in Texas

John d. Archbold, president Of the
Standard Oil Company of New Jersey,
who died May 7. 1915, left total
estate of Sal, 249, 1896.
The transfer tax appraisal Of the
property, filed in the Surrogates' Court
yesterday. places the net estate at $685.
498,247, the principal deductions being
S1,526,l29 for transfer tax, s250,O0O for
administration expenses and the Fed
eral estate tax.
That the estate of Mr.. Archbold is
larger than the executors expected Is
shown by the fact that last June they
paid to the State Controller an advance
tax of S1,130,0O0, which was made on
an estimated estate Of $50 100000.
Largest Holdings in Texas
Mr.. Archbold owned stocks and bonds
valued at S22,522,O75, there being ll6
separate holdings. Contrary to belief,
however, his largest holdings were not
in the Standard Oil Company or its
subsidiaries, these being valued at
S13,s94,712. His greatest investment
was in the Magnolia Petroleum Com
pany, of Texas, his 66,478 shares in
this corporation being appraised at
$18,241, 45O.
This figure was reached after counsel
for the estate had put a value of 49,
$50, 900 on the stock, and the attorney
for the State Controller had taken
testimony to prove the stock of much
greater value. The Archbold estate
counsel stipulated that the stock was
to be appraised at the higher figure.
The Magnolia company was an inde-
pendent concern. II. c. Folger, now
president Of the Standard Oil Com
PAW of New York. an original stock
holder. induced Mr.. Archbold to in
vest IN IL.
Entire Estate to Family
Mr.. Archbold left his entire estate
TO his family. There were no public
beauests in his will. After his death
a gift Of 100000 was made TO Syracuse
University by the ArchbOld family, in
accordance with letter written by
Mr.. Archbold.
Mrs. Annie VI. Archbold, the widow,
receiyed S12,752,5s9 ard property in
Tarrvtown the summer home of the
decedent, valued at Sl07 900. She also
received the contents OF the Tarrytown
residence.
There Mr.. Archbold had the only
painting of value that he possessed, a
canvas by Alma Tadema, entitled The
Coliseum" which was appraised at
$4,000. Mrs. Archbold also received
the contents of the residence at 375
Park Avenue, which included a tapes
try valued at $4,000. The effects in
the two houses were valued at s3o,6Ol:
Unlike other men who had estates OF
similar proportions. Mr.. Archoold was
rot q great collector of art objects.
Most OF the estate was in interest pro-
ducing investments. John F. Archbold,
son, and Mrs. Mary A. Van Beuren and
Miss Annie VI. Archbold, daughters,
received ss,50l ,431 each.
Bought Stocks on Margin
The appraisal showed that Mr..
Archbold's income tax for 1916 was
Sl24.S84. The appraisal also revealed
that at the time of his death Mr.. Arch
bold was buying stocks on margin
through James B. Colgate e. Co., which
firm held $500 shares of Midvale
Steel. valued at S155,400, and 1000
shares of Inspiration Copper, on
which he owed Sl77,56l. Mr.. Archbold
and Edward Harden had joint specu.
lative account under the name OF
Helen"
Testimony taken by the transfer tax
appraiser about the Magnolia company
showed that it was organized in 1911
to take over several small companies
and refineries in Texas. II was con-
tended By the estate that Mr.. Arch
bold's holdings in this company were
not taxable because, it being joint
stock association. it had the effect
of a partnership, and that its assets
were not In New York State.
II was further contended that the
high price of the Magnolia stock was
speculative and due to the announce
ment that the company had bought
new producing property valued at
$50 100000.
Oil Holdings Many
The principal holdings of Mr.. Arch
hold in the Standard Oil companies
were 5000 Standard Oil Company Of
New Jersey. S3,9SS,56O; 4,643 shares
Standard Oil Company of California,
81 .6si ,462; 4,575 shares Standard Oil
Company of New York, sl,l92,SS9, and
3 $50 shares Ohio Oil Company, ST.
356, 607.
Other large holdings were 10000
shares International Nickel common,
S459 ZOO; 1900 shares preferred, S127,-
54S: 1000 shares National Fuel Gas
Company. s940, 900; 5000 shares Union
Pacific. s7SO,950; $500 shares Chicago,
e. ST. Paul common, $685.,
500; 3,1O0 shares preferred, $3S8.S64,
and 1000 shares Anaconda Copper,
s360,t20.