The Holly chieftain., 1919-08-28
inheritance TAX
Man FINDS COIN
Deputy Commissioner Nc.
CulIoCh Visits Holly.
RELATES NUMEROUS FUNNY
EXPERIENCES IN HIS WORK
His Daily Routine Often Requires
Him to Discover Real Wealth in
Families Thought to Have Been
. on Poverty Row.

Families Thought to Have Been
. on Poverty Row.
Edwin l.. McCulloch, deputy state
inheritance tax commissioner has
been in Holly several days investi-
eating the estate of James X. Pratt
and other matters.
1t is the dream of every newspa-
perman-an of every other good
citizen, too, for that matter-to
roll in wealth. Mae is one news
paperman. whose dream has come
true. All inheritance tax apprais-
ers literally roll in wealth"-but it
is somebody else's wealth.
The day of an inheritance tax ap-
praiser is filled with excitement.
He is always counting some
bOdy's thousands. 1t took two
young men -Bertram Beshear and
Red" Morris, two of the best little
counters in the state-all day to
count the wealth of the late Werner
z. Reed, OF Colorado Springs re-
Gently.
When Mr.. Reed died his numer-
Gus safe deposit boxes were imme-
diately sealed by officers OF the
various banks holding them and
held subject to the order of the
state inheritance tax department.
Under the Colorado laws, when d
person dies his bank account, his
safe deposit box, and all other as.
sets are instantly tied up, and
must not even be looked into until
the state inheritance tax depart
ment gives written permission.
This applies to Joint as well as IN
dividual ownership. For instance:
If man and wife have a safe de-
post box in Holly bank and one
dies neither the other or any other
person has a right to open the box
until the state inheritance tax de-
partment gives permission, IN writ
ing. The same applies to bank
account, notes, mortgages, certifi-
Gates OF stock, and everything OF
value no matter whether held in a
bank, by an individual or by a
group of individuals, or by com
pany of any kind.
In northern Colorado town "a
man died several years ago. A loo
al druggist held his papers. ipclud-
ing will. He released these papers
without permission of the inherit
ance tax department-with the re-
suit that the will came into pos
session of one of several conflicting
| sets of heirs, disappeared, and
caused endless trouble to all con-
cerned. Ignorance OF the law cost
the druggist $3,SOO.
When former Lieut.. Gov. E. r.:
Harper, now state budget commits
sioner and right-hand man to Gov
ernor Shoup, was inheritance tax
appraiser, a man rushed excitedly
into the office one day, and said:
| Governor, my sister Is dead and L
wish you would come right down
and open the box 1t won't take
us long to list the contents; there
is nothing but 65 $1,000 government
bonds"
When the box was opened it was
empty.
| What became of the bonds
IL was dlleSeu III a Coult dCtlOll
later that the bonds had been en-
dorsed to relatives and friends by
the dead lady-and that the broth
er destroyed them without her
knowledge on one of his trips with
her to the box. At any rate, the
government redeemed them, they
went to the estate, the brother re-
ceived them-and paid an inherit
ance tax on them.
A certain New Yorker, anxious to
get out of the L. S. A., converted
his property into cash and negOti-
able securities EnrOute to San
Francisco he stopped over in Den
yer, went riding with a friend, the
machine turned turtle and both
were killed. Inheritance tax ap-
praisers found $350,000 in cash and
securities in his trunk at the Or
pheum theater, where it had been
left in safe keeping with Max Fab
ish, the manager.
A sObbing woman came into the
department one day with request
that her husband had committed
| suicide the day before and would
the department please open his
safe deposit box.
Former Attorney General Leslie
| +. Hubbard, then inheritance tax
appraiser, went to the bank with