The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-08-17

TIME REPORT of the appraiser
of the estate of the late Eugen
r. Day was filed in the probat,
court last Monday. 1t is a vol
luminous document, filling rs type
written pages. comprising a list anc
valuation of all real and personal
property of the deceased, including
stocks, bonds notes, accounts collect
ibe the total value of the estate be-
ing placed at s1.754, O52.54. The af-
fairs of the rich are always interest
ing to the public. and generally their
wealth, when subjected to the cold
calculation of appraisers appointed by
the court is generally found to be be-
low the popular estimate. This is the
case with Mr. Day, the value of whose
estate is now a public record. Large
as it is. in the mind of the public it
was much larger. This does not mean
that the estate was under valued by
the appraisers. although some of the
mining stocks have a much higher
market value now than they did on
the date of appraisement; rather it
means that according to popular I'M
derstanding the deceased owned much
valuable property that does not APP
pear in the list filed in the probate
court For example it was supposed
that Mr.. Day was a large stakeholder
in the Tamarack & Custer Consolidat-
ed Mining company, control of which
is understood to be held by the Day
family but stock in this company does
not appear in the list Likewise
shares in the Occur d'Alene Hardware
& Foundry company and the Wallace
Powder company do not appear in his
estate and yet the public credited
him with being the largest stOckhOld-
er in each. In the course of the Star
trial it was shown in evidence that
Mr. Day owned $4,000 shares, more or
less. of stock in the Hecla Mining
company, while the appraisement list
companies is highly valuable and the
fact that they are not included in the
property list of the deceased illus
trates how easy it is for the public to
be mistaken in its estimate of the
wealth Of the rich.
The Widows Claim.
Now that the property of the de-
ceased has been listed, appraised and
filed in the probate court, it is pre-
sumed that the widow, Mrs. Agnes
Loretta Day, of Portland will soon as
sert her claim to the entire estate
through legal procedure. Since the
death of Mr.. Day last February it is
that efforts have persist
emily been made on behalf of the bro
theirs and sisters of the deceased,
among whom the estate was equally
divided by the terms of the will with
out reference to the widow. to effect
a settlement with Mrs. Day, the wild
ow. and that she refused to consider
any proposition until the property had
been listed and appraised. Since the
it is understood that
Mrs. Day has been offered one-fourth |
of the total value of the estate in set
Element of her claim, and that this has
also been turned down.
Report of Appraisers.
The appraisers appointed by Judge
Sherrard. of the probate court, to list
and appraise the estate of the deceas-
ed were Allen G. Kennedy, John F.
Murphy and Plat p Morrow, and it
is evident that the task presented to /
them was not an easy one. The out
standing feature in the valuation was /
the interest of the deceased in the /
Hercules Mining company which was
7-64. This includes the Hercules /
mine and all cash, notes, bonds and |
stocks held in other companies and is /
valued at s64S, 49S5O other property 1
real estate and mining claims, |
appraised at $50, 4O75O; 4755 shares in
the Hecla Mining company, valued at
IS per share or s23,775 The market /
value of Hecla is now IS per share |
Ambergris Mining company. 291,774 /
shares valued at S,7661O; 100000 |
shares of Galena Mining company |
appraised at 10 cents per share or /
$40 200 The market value of this |
stock is now 20 cents per share or bet /
ter. sherman Lead company $4,000 /
shares appraised at $4,000; 2145 /
shares in the Portland Hotel company |
Portland, Oregon, appraised at 1929
300. Other stocks and bonds estimat- /
ed at 100000; accounts collectible, /
S55, 900; cash, s3S0,95S.3