New-York tribune., 1919-11-09

deduction advanced based on the
known condition of Mr. Shonts's es-
tate. was that she may receive moth
ing at all or very little. This view
took into consideration that MIR.
ShoHts left an estate valued at about
$500 600. although it may amount to
more, and the fact that he also had
large debts. principally the result of
unfortunate ventures in the stock mar
ket. Also, it must be remembered that
Mr.. Shohts did not make a specific be-
quest to Mrs. Thomas, but left her the
residuary estate.
be fixed oil of the valid claims against
the estate must be paid To begin
with. there is the 100000 debt which
Mr. Shonts owed his wife which he ac-
knowledged in his will asking that it
be paid. The nature of this debt is not
disclosed and 1t may g that it repre-
sents the provision made by the rail
road man for Mrs. Shonts in their sep
aratlon agreement, made IN 1917, to
which reference is also made in the
Will. Then there is in the will 500
coo trust fund for the two daughters
of Mr.. S'onts. of which the prirciDal is
to go to their children on the death Of
the parents, Al o. Mr. Sh0nts created
Miss Eva Marshall Shonts, of Hins-
dale, Ill.,, and two nieces
Loans to Be Deducted
Under the conditions of this .rus.
half Of the principal may revcrr t.
the residue, in which case it would
go to Mrs. Thomas There are minor
bequests totalling about $l5 000 Thus
S315,0oo is o'ready deducted from the
VOL fn1
ductions that will have to be made
are executors commissions, attorneys
fees, expenses of litigation. Fedora
inheritance tax, state trans er tax,
funeral expenses and the cost of
building monument in Woodlawn
Cemetery, which Mr. Shonts asked il
his will. All these must come out Of
the estate.
This is not all. however. 1t is known
that Mr.. Shonts was involved in somc
Wall Street "ooc'''n'' 'N.'. ''~' 49,
pan out well. 1t is said that he
pledged WITH the ~.
Commerce securities valued at NOR
than 5000 for loan of S291,GO
That loan must be taken up out
the estate assets and the question
how much is left of the money he boz
-'oNcu. mere are other loans too, it is
said
Had Heavy Expenses
1t is true that Mr.. Snonts received
6 substantial salary as president of the
lnterborough and liberal bonuses, but
he Was under heavy expense. Besides
paying his wife S45.000 year for sev-
arai years Up 10 the time Of his death.
the maintenance of separate apart
ment Was q heavy drain on his income.
y man VINO IS acquainted with the
affairs OF the Shonts estate said yes
terday that 1t would not surprise him
If the debts of the tcstator and the
other charges against the estate would
be so large that it might become nee
essary to prorate the trust funds ere
ated and the few small specific be
quests to pay all the prior claims This
same informant said that he eXpected
he residuary estate that is to 70 to
Mrs. Thomas tc be so small that il WIN
not De worth fighting about
Widow to Contest viii
Unless she is induced to change her
mind, Mrs. Shonts will contest her hus-
bands will. To break the documen
she must prove that Mr Shonts was
of unsound mild when he executed the
instrument or was under the undu,
influence of some person, or that the
viii was not his own voluntary act, but
made under duross.
Mr. Shonts's estate is said to con-
sist entirely Of personal property. If
that is SO, Mrs. Shonts has no dover
right in the estate. a. she would hovo
If her husband left real estate, in which
she would have an inchoa;c dover in
terest OF one-third In case the widow
csn prove her objections TO the pro
batting Of the vii or the ground stated
Ct on the added ground that the IN
strument Was not properly eXccutei
the estate will 20 to Mrs. Shonts and
her daughters. 70 the exclusion o. Mrs
Thomas and other legatees as It viii
then be held that MIR. Shonts died m