The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-02-03
GROSS VALUE JAKE
l. HAM0N ESTATE
in OKLAHOMA is
ABOVE 100000
ACCORDING TO FIGURES OF
J.. d. MOORE, APPRAISER;
TOTAL INDEBTEDNESS
IS $1,750,570.

The gross value of the Jake L.
Hamon estate in Oklahoma is s3,143,-
903.50 and the total Indebtedness
chargeable against the estate in Okla
homa is s1,750,570. These figures are
taken from the report Of j. p. Moore
who was appointed by the state Of
Oklahoma to make an appraisement
Of the Hamon properties for the pur'
pose Of forming basis for the col
lection Of the inheritance tax.
The estimated expense Of admin
istration including attorneys fees,
court costs and the fees of the ad-
ministrator Is $194,000. This leaves
net taxable estate Of s1,200,Oo0.
it must also be taken into con-
sideration that the estimates upon
the values Of the estate were as OF
November 20 and since that time
Healdton oil has been reduced ir
price three times and Hewitt twice
and the tendency Is toward still low
er prices and values Of all oil prop
critics have declined in actual cast
value.
This report will be filed with the
State Auditor, with the Attorney Cen
eral and with Judge Winfrey OF th'
Carter county court and when 1t !!
approved the beneficiares will owe t
the state as an inheritance TAX th'
sum OF 42,400. OF this amount MIS-
Hamor who owns one-third of tn
estate will pay s14,io0 and eacl
child who owns one-third each vii
each pay sl4,150. Mrs. Hamon ha
; an exemption under the law oil slo.
600 and the children have an exemp
ton of $4,000 each and for tina
reason the child's inheritance tax
slightly higher than that OF In
widow.
J In Oklahoma the following inherl
tance tax IS collectable under IN
law: For the first $4,000 one pc
: cent, for the second $4,000 two pc
| cent. for the second $4,000 fou
per cent. This schedule applies
2 direct relatives and the tax Is higne
5 when relatives farther removed r.
: ceive an inheritance. The money
5 Maid TO the general fund OF the stat
e and is used for general expense pu'
Q poses. :.
;. The figures given above do not II
I clude the value of the properties owl
cd In Texas by the estate. The inde'
tedness against the Texas proper.'
amounts to s1,eS6.s56. The estate M
stock in the Wichita Falls. Rang
and Fort Worth Railroad but u
stock is pledged with the Nation
C,,v Rank Of New York for a iol
, Tho railway property at this TN
"a soid TO be operated Mt a loss III
n II the property is made to pay tn
/ as much rs 81 more miles OF 'rae
age must be built TO give the sho
line be,ter connections. The Hair'
y estate I'm Texas will probably not !
5, worth very much more II any mo
2. than the Indebtedness charse"o
against the estate there.
The estate was appraised py
y y Moore OF this city and he was
n sisted In the work by n. w. 'o'
y attorney for the state AUDITOR "
also Inv Frank l.. Ketch administr
% tor NJ the estate and Fred IL. E''
Id ottornev for the administrator.
of Mr.. Gore whose business 1t IL
X collect inheritance taxes In the s'a
J. "a greatly pleased with the mtel
gcnt work that J. y. Moore mas ov
" and he will ask the state 10 appo'
Id him to 70 TO olmulgce to assist
rd the appraisal OF u very large es'a
u there. ,,o
is Following Is the itemized stateme
ne that has been prepared for the state
~ I. Glass lease. stephens
&c county. okla. 100 acres
y. wells daily production ~
ns bbls, s-s interest-7h bbls--s ss'eoV
nd .. Mary Dancy, Carter
%. county, okla. 100 acres, 10
ly acres producing. wells
c. Daily production e2is bols',
rs working interest--I'''o
ng bhls, ------- -----------
" 4. Zipse lease, Cotton coun-
ed ~. okla. 40 acres, 4 Wells
he daily production 2Sh ools'
to 7.i6 working interest. w. .,
bbls. per day-------------- iV'VV'
4. Fink lease, Cotton coun-
Is. okla. so acres. produc-
nd Ing wells. daily production
no 20 bbls. 7-ie working inter- "a.
ie- cst--is.gs bbls. per day. iS'@.'
"a 6. Simpson Fec lands, Car
mt ter county, Okla. 20 acres
by owned In fec. : producing
is wolls. Daily production
ch ICES bbls. Entire working
rls interest and royalty ises-- l''VSV
nd a. Miriam James lease, 10