The New York herald., 1921-05-15
Tax Levy Ch anges
May Force Actual
Principal Out of the
Country Instead of
Incomes Only, as in
Many Notable In
stances Heretofore

ferred to foreign Investments, the matter
becomes intricate
But member of a leading International
house of long establishment and conserva-
tive character made the statement that a
good many .'international' families, holders
of American securities, are getting rid of
them, replacing them with the numberless
government issues now selling in Europe
mt bargain prices. The movement has been
SO general that the international bankers
are concerned. They say that American
fathers ought to do something to stop this
stream Of selling that has set in, if 1t IS
nothing more than to advise.
With few exceptions the foreign mar
riages are contracted with New York girls.
and when there is included in their dot some
parcel of New York real estate, richest of
the globe, their titled husbands know better
than to sell II in order to reinvest in any
thing European, however gilt edged.
One-ffteenth of Manhattans
Realty Held by Fifteen Families
Nowhere in the country is there such
a notable group Of families Of wealth
as on Manhattan Island 1t has been esti-
mated that there are fifteen families who
own one-fifteenth Of New York citys as
sessed real estate. OF these the richest are
the Astors, with the Goelets second and fol-
lowed by such families as the Gerrys
Rhinelanders, Wendells. Hoffmans Van
Ingens. Potters and Nanderbilts. A glance
at the maiden names of the list of titled
American women will show that nearly all
these families are represented by a member
in the Almdndch de G0thd entrance having
been obtained to that charmed little red
book by marriage. Their fortunes, when
invested in Manhattan realty, are not very
subject to whim or change.
Baron Astor before his death did in
deed. unload by gifts to his sons much Of
his landed property here, the taxes on
which, with the double tax on incomes col
lected by Great Britain. almost absorbed
his income AT least he made that asser-
ton. His son and successor, Lord Astor.
and his Pariamentarian wife have shown no
disposition to follow Baron Astor's example.
Nevertheless. although they enjoy a large
income from America. "A considerable por-
tion of the Astor family's $500 100000 has
left America.
The example of Baron Astor has been
followed by other men. IT, II. Broughton,
son-in-law of the late H. H. Rogers. when
money with him. 1t was nice sum, even
as fortunes are figured these days. amount
ing, as it did, to $200O0,00O
In recently compiled list of the Ameri-
can rich some surprising figures are shown.
1t is headed by the wealth of the Rookie
fellers with S3.oOOOO0OOO and followed by
four families possessing $500, ,OOO. 900 each
two families with S40O,O00OOO each. two
families with S3000oO,O0O each, four fami-
lies with S2OO,OOO0OO each. nine families
with S150000,0O0 each. sixteen families
with S100O0O,000 each, twenty families
with $T5.000000 EACH seventy five families
with S50,0O0.00O each and 900 families with
S2000O,OOO each
In explanation of this list the statement
is made that $50 families own the wealth of
the United States. The field for cultivation
of the foreign fortune hunter may be said
to have widened rather than grown mar
rover, and a new assortment of interna,
tional matches may he confidently expected
A refusal on the part Of the wealthy Amer
lean father-in-law-to-be to sell out home Sc
curities and renvest in foreign bonds and
stocks in his daughters name can hardly
act as a dscourager.