Cost of Administering Estate to Date, with Transfer Tax, Foots Up $3,305,480
The Four Executors File Their First Judicial Accounting, Covering Personal Property Only
The first judicial accounting of the estate of Col. John Jacob Astor was filed in the Surrogates' Court yesterday by his four executors, James Roosevelt Roosevelt, Douglas Robinson, Nicholas Biddle, and William Vincent Astor. The accounting, however, was only in regard to the personal property of the Astor estate. The executors charged themselves with $24,794,368, and credited themselves with $24,715,478, leaving a cash balance in their hands of $78,890. All of the bequests mentioned in Col. Astor's will have been paid.
The $24,794,368, with which the executors charged themselves, was made up as follows: Property received shortly after Col. Astor's death, $19,273,288; real estate allotted to trust funds, $3,007,500; money borrowed, $1,688,311; rents collected, $76,309, and income other than that derived from rents, $596,377.
The disbursements were accounted for as follows: Funeral expenses, $9,007; paid out for debts, $1,182,350; legal expenses, transfer tax proceedings, and general administration expenses, $3,305,480; decrease resulting from sale of securities, $21,277; decrease resulting from transfer of securities in payment of legacies, $553,274; property transferred to legatees, not including the residuary legatee, $14,609,773; property transferred to residuary legatee, $4,670,330; interest on trust funds from April 15, 1912, to Jan. 15, 1913, $550,330.
The executors' accounting shows that the personal property at Ferncliff, which passed to Vincent Astor and which includes books, works of art, bronzes, silverware, wines, and china, is valued at $111,722. The paintings and engravings in the Astor home at 810 Fifth Avenue are worth $36,265, and the personal property which belongs to Mrs. Madeleine Talmage Force Astor in the Fifth Avenue home is valued at $962,959. The yacht Noma is valued at $90,000.
The realty of the Astor estate, according to the appraisal report filed last June, is valued at $63,124,321. The value of the gross estate was set down at $87,218,000 and the value of the net estate at $85,311,228. Vincent Astors share was valued at $68,964,599.
The principal holdings of stock were 40,000 shares of New York Central Railroad, 10,000 shares of Illinois Central Railroad, 6,229 shares of New York, New Haven & Hartford Railroad, and 8,160 shares of the Pullman Company.
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(1914) ASTOR BEQUESTS HAVE ALL BEEN PAID New York Times (ref: #3645, accessed 4th September 2015 01:23:03 PM)
URL : http://www.encyclopedia-titanica.org/astor-bequests-have-all-been-paid.html
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