Republican farmer., 1919-08-22
ESTATE
 IN NEW YORK
 GOES TO SONS
Viscount Transfers All His Property Assessed At
 $5O,2OO,OOO.

New York, Aug. 16.---Deeds of trust were filed yesterday iii the Registers office on behalf of William Waldorf Astor conveying all of his real estate in New York City or elsewhere to the Farmers Loan & Trust Company as trustees in trust for his two sons, Waldorf Astor and Captain John Ja- cob Astor. No detailed division of the properties was mentioned, the deeds merely specifying that one-half Of Viscount Astor's realty had been con veyed in trust to each of his sons.
 The Manhattan realty, which thus becomes virtually the possession of Waldorf and Captain John Jacob As tor, is valued at more than $50, 900, 600. The assessed value of the William Waldorf Astor holdings in New York City was placed a short time ago at $50, 200 GOO. No statement could be ob- tained from Viscount Astor's lawyers as to the cause for this big transfer, but it was evidently in keeping with the policy he started in 1911 when he | filed his first deed of trust to the Farmers Loan & Trust Company as | trustees for Waldorf Astor, convey- | ing all of the Waldorf section of the | Waldorf-Astoria Hotel, being the Fifth avenue and Thirty-third street portion of the hostelry. and, in addi- ton, the Astor Court building, these two parcels being worth about ST. 0O0OO
 | The statement was made at that time that the transfer was due to the desire on the part of Viscount Astor to escape heavy inheritance tax law, which is per cent. on bequests over S1, COG, 900. Under the transfer in trust of land and buildings valued at more than $50,0C00 900, this would mean a saving to the estate of s2 800 GOO in in- heritance taxation.
 Four years ago Viscount Astor deeded outright to his youngest son, John Jacob Astor, the most valuable of his downtown holdings, including the northern portion of the old Astor 1 House, with additional land on Bar clay street, the History Exchange Court building at the southeast corner 1 of Broadway and Exchange Place i and the eight-story Astor building at 10 and 12 Wall street, , extending i through to Pine street. The deed to
 these parcels was recorded in July, l 1917, and they were then assessed al | S7,200,O0O with the buildings, the
 land value being more than S6,0OO,- 900
 Last month Captain John Jacob Astor, who was wounded in the war
 sold the Wall Street building to the | Bankers Trust Company at a price said to exceed $2,OO0,OOO, and on the site the Bankers Trust Company is planning a large addition to its build.
 ing on the corner of Wall and Nassa |
 streets It was the largest portion ot
 the William Waldorf Astor holdings
 in the city that had ever been sold since it came into the latter's poses
 sion.
 Among the more valuable of Wis. count Astor's properties now trans 1 ferred are the Hotel Astor, assessed
 at S4.O5O, 900; the Astor Theatre, as-
 sessed at s1,OO2, 900; the Astor Apart ] ments on the west side of Broadway
 between 75th and 76th streets, as-
 sessed at $1.525, 1000; the west side
 of Madison avenue, between 35th and
 36th streets, assessed at more than
 s1.OOO,OOO, and the Eigth avenue
 block fronts on the east side, be-
 tween 44th and 46th streets, with
 large holdings on the street fronts 1 Waldorf Astor visited America 8
 few years ago to look after the family
 real estate interests. MT. Astor has
 since been a member of the British
 Parliament and has taken an active
 part in political activities
 John Jacob Astor was captain ir
 Kings First Life Guards Captain
 Astor and his wife visited America
 last February and spent some inc a
 Palm Beach. Both are cousins ot
 Vincent Astor.