New-York tribune., 1919-10-20
ViscOunt Ast0r
Is Dead After
Years Illness
Continued from page 1

he possessed in New York ten years
ago has passed from his hands either
by sale or gift. Recent drastic income
taxes both in this country and in
Great Britain, which are reported to
have taken, together, more than 100
per cent of Viscount Astor'a income,
apparently confirmed him in this
course Of action.
1t was estimated that the inheritance
tax on the William Waldorf Astor es-
tate would enrich this state by $15,-
000 900. In 1911, however, soon after
the passage of the law, Mr.. Astor
transferred half of the Waldorf-As-
toria Hotel and the Ave buildings ad-
joining. numbered 10 to 81 West Thir-
ty-third Street, to the Farmers Loan
and Trust Company in trust for his
eldest son, Waldorf Astor
July |, 1915, the younger Mr.. Astor
received a gift from his father of
$780, 900 worth Of lower Manhattan
real estate. The gift included the north
end of the old Astor House property
the Real Estate Exchange and adjacent
buildings in vesey Street, the Exchange
Court Building at Broadway and Ex-
change Place and the Astor Building at
10 Wall Street.
One Large Block Sold
Early in 1918 the block on the east
side Of Tenth Avenue, between Four
teen and Fifteenth streets, one of the
dest Astor holdings in the lower West
Side, was sold to Amos C. Dean.
The climax in the dispersion Of the
William Waldorf Astor holdings il.
Manhattan came last August, when all
was transferred to the Farmers Loan
and Trust Company, in trust for his
two sons. 1t was estimated that the
assessed valuation of this property was
more than $50000,0O0.
1t included the Hotel Astor, the
Astor Thater and the Astor Apart
rents on the west side of broadway,
between Seventy-fifth and Seventy
sixth Streets.
Last month Viscount Astor and
Waldorf Astor sold the building at 3
Co.. and it was said they had been
dispoc.ng of much of their holdings in
the financial and theatrical districts
William Waldorf Astor, the great
grandson Of the original John Jacob
Astor, who founded the fortunes of
the .amily and whose romantic and
adventurous career is matter of his
tory, vas the only son Of John Jacob
and Augusta Gibbs Astor. He was
born in this city on March 81, 1848,
jast two days after the death of his
great grandfather. His early life was
spent at the homo of his parents in
this city, where the foundation for his
education was laid. He subsequently
Travelled extensively abroad with his
tutors, studying in Germany and Italy.
On his return to America, he entered
the law school of Columbia University,
and there took his degree.
steady-Going Young Man
After his graduation Mr.. Astor en-
tered the law Office Of Lord, Day g.
Lord. He did this TO equip himself
more thoroughly for the management
of the great Astor estate, without in
tending to practice law. He was ad-
mitted to the bar in 1874 and remainrl
with the law firm for several years.
This firm had charge of most Of the
law business arising out Of the NAH
agement Of the Astor properties.
Before this, however, Mr.. Astor was
known by all acquaintances as Il
steady-gcing young man, with tend
ency to business pursuits rather than
pleasure. He was always an omnivor-
GUS reader, and it was shortly after he
was graduated from the law school
that he began, with several young
friends, the publication of a small
magazine. This was issued under the
auspices of q society, also organized
by Mr.. Astor, which met at regular in
tervals at the houses of its members,
and was called the Beefsteak Club.
His mothers position in society
brought him into the gayeties of sew
erai seasons, but they never appealed
strongly to him.
He was the favorite of his grand
father, William B. Astor, and by his