New-York tribune., 1920-05-15
Schools Get 10
Millions Under
De Lamar Will
M e deal Departments Of
Columbia, Harvard and
Johns Hopkins Will Each
Receive $5,54l,4Ol
Estate Is $32,282,927
Transfer Tax Appraisal OF
Holdings of ''Man of Mys-
terry" Is Filed in Court

The medical departments of Colum-
bia, Harvard and Johns Hopkins uni
versities receive $5,541 ,40l each in the
distribution of the estate of Captain
Joseph r. De Lamar, the transfer tax
appraisal Of which was filed in the Sur
rogates' Court yesterday. These gifts
represent the residue of gross estate
of $S2,2S2, 1927, which the one-time
Dutch sailor left when he died Decem-
Der l, 1918.
Captain De Lamar, mining capitalist
and officer and director of numerous
corporations. known in Wall Street as
the Man of Mystery" provided 80
this fund should be divided among = @
three universities to provide funds for
the study and teaching OF the origin
and cause Of disease and its prevention
and for the study and teaching of di-
etitlcs. There is also possibility that
this public benefaction will be inoreas-
Cd by 100000 the amount of life
trust created by the decedent for his
daughter, Miss Alice Antoinetts De
Lamar. of 270 Park Avenue. with the
provision that if she dies without issue
the principal of the trust is to go to
Columbia, Harvard and Johns Hopkins
/ he viii Of Captain De Lamar, left
So00.0O0 to the Association for Improv-
ing the Condition of the Poor.
Estate Exceeded Estimates
The popular estimate of the De Lama.
estate at the time of his death was
|,
the value of the net estate as fixed BY
the transfer tax appraiser, amounting
to $2S,S47.72O, after the payments OF
debts, taxes and administration ex
/ penses. Captain De Lamar's holding,
IN stocks and bonds were appraised a
$26,524,225. He had $1.510,000 Of Lib
erty bonds Of the fourth issue. $4,000
Of the second issue and 500 of the frs
issue.
After many months Of work in ap
pralslng the art objects left by Cap
tain De Lamar al his country place
Pembroke, at Glen Cove, L. l.. i
came near being necessary to 20 owe
the whole tedious job. This was du,
to valuation Of $17,500 placed on al
Araell rug, BY Thomas t. Kirby, ar
dealer, who acted as the art appraise
Tor the estate. Mr.. Kirby submitted
TINS valuation on the antique rug t,
the transfer tax appraiser, who learne,
that the same rug in d public sale o
the De Lamar art objects had sold 70
$4,000. The State Comptroller caIle,
the attention Of the estate to this sit
uation and insisted that there must b
reappraisal Of the decedent's entir
art collection. Mr.. Kirby eXplaine
the difference between his valuation
and the price the rug sold for at auc
ton by saying that there had been
heavy demand for antique rugs an
because Of their scarcity the peopl
who wanted them would pay any price
The matter was settled by the estat
agreeing to a fiat increase of 25 pc
cent on the valuation of the content
Of the city residence of Mr. De Lama
and Of so per cent on the contents 0
the country house, rather than make
new appraisal. The contents of PEN
broke at Glen Cove, were valued q
$685., 1897, and of the Madison Avenu
. residence at S145,222
Left S2,lSO,64S Debts
Despite his large holdings Of secur
ties Captain De Lamar had debts G
Sc, 2,180648, the largest of these bein
81 900 900 to the Bankers Trus+ Com