The New York Times/1918/11/11/Bronx Gets Record Tax
BRONX GETS RECORD TAX.
$663,558 on Douglas Estate that Held $961,000 Liberty Loan.
The largest transfer tax recorded in Bronx County will be paid this morning when the fee on the estate of the late James Douglas of Riverdale-on-Hudson, who died last July, is entered. Alfred B. Simons, Transfer Tax Appraiser, in his report filed with Surrogate George M. S. Schultz, placed the tax at $663,558.02.
The total of the Douglas estate was put at $18,635,722, less about $1,000,000 for debts and counsel fees. At his death, Mr. Douglas, who was a financier and mining stock promoter, had $370,255 cash, $469,498 bonds and notes, and $15,172,000 stocks. Among the assets are $150,000 of the First Liberty Loan, $400,000 Second Loan, and $411,000 Third Loan, making a total of $961,000 lent to the winning of the war.