The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-05
JAMES STILLMAN
LEAVES ESTATE
OF $4O,OOO,OOO
L. S. Will Get $9,000,O0O
and State $1,381,561 as
Inheritance Tax.
REPORT BY APPRAISER
Bankers Wealth Mostly in
Stocks and Bonds; Only
9l,3|J,465 Ill Really.
TOTAL OF CASH $2,842,73O
Paintings in France Owned by
New Yorker Are Valued
at SI58,949.
TOTAL OF CASH S2.842,73O

James Stillman. chairman of the
board Of directors OF the National City
Bank, who died on March 16, 1918,
left an estate of the gross value of
$40,33S,121.4o, according to the report
Of William J. Campbell, the appraiser,
filed in the Surrogate's office yester-
day. Debts. funeral expenses and ex-
ecutors' commissions amount to ST.
SS7,09S.7o, leaving net taxable es-
tate Of s3L451, ,O22.77. The State in
heritance tax will be 1881 .56129 and
the Federal tax nearly 25 per cent. Of
the estate. or about $9,Oo0,o0O.
Mr.. Stillman's real estate is valued
at S1,379,4S3. His tangible personal
property, consisting of the contents OF
the city residence, East Seventy
second street. and summer homes at
Newport and Cornwall, is valued at
$463, ,049.39. Stocks, bonds and other
securities amount to s34,96761O. and
cash in various banks is $2,S42, 1923.
The only life insurance was n single
In addition to the property reported
Mr.. Stillman had paintings In France
appraised by Henry Bateliere Of Paris at
si5S.949.S0. This is not subject to the
New York State inheritance tax.
Art Bequeathed to Children.
In his will. which was filed for pro-
bate or April %. 1918. Mr.. Stillfnan left
his paintings and other works Of art
and his silver and household effects
equally to his Ave chiIdren--Elsie G.
Rockefeller, wife of William G.. Rookie
feller: Isabel q. Rockefeller. wife of
Percy A. Rockefeller. James A Stillman,
Charles Chaunoey Stillman and DR..
Ernest G. Stillman. The executors had
power under the will to make an unequal
distribution but this was not done.
The trust fund of $3,500,o00 created
by the will for each OF the daughters
Mrs. William G. Rockefeller and Mrs.
! Percy A. Embellishments to $3,-
S94.430 after the deduction of trustees'
| commissions. The daughters are en-
| titled to the income OF this for life.
The will divides the resduary estate
into three trusts, one for each of the
sons. Appraiser Campbell finds that
these trusts amount to $9,694,57l each.
Upon the death of each son his trust
will be subdirided into separate trusts
for each of his children, and upon their
deaths will go absolutely to their chill
dren. The estate is thus held together
for two generations before being dis
tributed, but the trustees have authority
In their discretion. to make distributions
OF the principal of the trusts as each of
Mr. Stillman's grandsons attains certain
| ages. At25 years OF age the trustees are
authorized to pay over one-fifth OF the
fund at 80 one-fifth, at 35 another one
| fifth and at 40 the whole or any part
of the fund.
The trustees are not empowered. how
ever. to make advances to any OF the
| granddaughters. In case Of the death
OF any OF Mr.. Stillman's sons withou,
children provision Is made for setting
aside trust for the sons widow, to ar
amount not exceeding one-half OF the
trust held for the son.
The trustees are authorized to retain,
Mr.. Sttllman's property in the same form
OF investments in which 1t was at the
time OF his death, and are requested moi
| to make any new investments In any
one security to an extent greater thar
/ $25O.OOO except for reasons appealing tc
them at the time as especially strong.
The grandchildren now living who will
share in the estate upon the death ot
Mr.. Stillman's sons are Anne, James I'd
Alexander and Guy Stillman. children o,
James A. Stillman Elizabeth G., Charlie.
d. and Elliott w. Stillman. children o,
Charles Chauncey Stllman, and Jane
| Calvin w. and John Sterling StiIlman
children of DR.. Ernest G. Stillman.
The executors and trustees named ir
the will were James Stllman's brother
Charles Stillmah his sons James A. anc
Chauncey Stillman and his friend anc
legal adviser. John w. Sterling. Mr.
Sterling survived Mr.. Stillman by onl,
Ave months and the other trustees an
pointed DR.. Ernest Stiliman in his place
Mr. stillman's largest stock holding
We're: The National City Bank. $l4,
Continued on Fitth Page.