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SeishuSr " HAMILTON B. WILLS. _ Original duty q......... $37,182 Additional duty........ 880.000 The deceased had accumulated during his lifetime a large number of securities in bearer form. i Through the nature of these securi- l ties he had managed to evade pay- Pment of income tax on the income ( from them. . _ In adopting this practice ll is ap- :parent that this decrtthed was fully 'aware of the risk his repre~enti . 'tiyes would tncur after his death. gthe report continued. Ill attempt- . jinx to co-ordinate the returns they I could make for succession duty pur- poses with the incorrect returns he had been filing for income tax pur. poses during his lifetime. The deceased even provided for ,the future by resorting to suhiers . fuge in transferring these securi- Ities to his sons. and at the samclreyalue two classes of bonds, t:i,'.c,s,'c,)' carried on the books at time instructing them to make the suiting in a :ttb.~taiitial increme. $180.00", which had been sold three necessary entries in his books to'One class, were those of a distiller} intontlm before the death of the tie- the effect that these securities had company which the department aticr'dent for $400,000." passed to the sons as a maul! of the that "run aiicmnnd to value, linden F ,. , death of the deccasrrl', 'nr',,)';,,;,))';,').',';':, of Jan. JI) i918. a letter "to: MARI N. MALLOCH. had been a resident Ill the Fulton written by the branch office to the: Original duly ...........S.31.'.L.'27 States. The securities thus trans-imm" oui, of the trust company.!,, Additional duly .......di50,000 ferred to the suns appioxmtatedlA quotation from the letter rearing This cam. according~ to the de- '400,000. . . . "We would he obliged if you would l pat'tniental repoit. "Bi almo:t cn- Following [his dnian A death. hi, notify the distillery company not to i tirely based on rcraluation ofrhares. ee'r"e'ltceewai',rf,',"gy 83:33:):Laxlshr')'; furnish a statement to'either .---M... I and bonds owned by the deceased. true source was only later revealed 1"u,ud"id.'r,1)tj,t1f cathT'Fmsliiilmdi W. D. LONG. ti', l result ot the department':, itt. further letter read in part: "\Vei Original duly ..........$241.305 vestittation. ' . . . ', .' Additional duty .........S38000 R. W. LEONARD. note that in your tt.ter.yoy thinkl ... I . . . 'i T . . forty cents on the dollar is the mice In this (Mate lame sums were i Original duty ........5613.187.02 that should be fixed on the L'ilr,)i,r.luLiurdfrrid by the ll'lel company l Additional duty......' '79.614.69 [By suggesting such a low price we , which aeorl as (Norman the report l The additional duty in this case. hope that you will not spoil matlots, i stated: adding that "despite the lthe Succession Duty Department re. ac the secretary of the company told I farts tho truw company allowed {vealcd' way", made up almost entire. us that if he had any availahle l 7h" "tll'" to bo liquidated, 1'no. hulk ly by taxing gifts which had not money he would buy at 73. and i: 'of ""5"" W7 l"' "ulltl'Y, WWI" 'vo been previouslydisclosed. The gifts i would be unfortunate if the (Joye: n- the department , [IIN ('?rt)galinn, ' ' -* were very numerous and comisted . ment should refer to the cotttiiiittyt J. p, TitinALE. of cash, bonds and pronerty. Tho'im. a price." l f)rrcircd du'y S1iC",T0 ilectieartopa,r,i, of the nonuii,cloe,ute 150'le MILLS. I Additional (fut) .........$'..".'.994 o the tact that the same Ori i l d ty won-y; "N' ' l trust company handled the cttate " 'Y' lud' /v"y.y.'.y.r,i;'iii'/ii0', l l'hr Sut-,.uion '-),u.rrir)trioa.rlmeyt i and all the payments made by way tld,)?? u 3 """°"~') ' ,ieport» that the additional duly in of gifts were made through them. 'This is one of the few, if not the , in»: e.~tat_e wan collected as a result, . . only estates where the department lot ltlVPrllpa'ilot1, Wax based upon} . KERRY CORE" has made an additional anaessment [gifts which were not declared. Par- Original duty .........$ll7.489 based entirely upon revaluation of ticularly is cited one gift of $200,000, _ Additional ("Myer-nus 50,000 the estate." the report stated. "A5'whiclt they claim the executors. It was necessary in this estate to an example. we found one piece of stated was not taxable, "due to a very ingenious method used by the deceased in avoiding succession duties." I l i I i l M-li-g------,,-.--,--,-, A