The Home Journal

Collects $19,000 In Taxes From Fairchild Estate

The sum of $19,339.12 in inheritance taxes was paid on June 30 by the Estate of Arthur S. Fairchild, it was disclosed yesterday.

Mr. Fairchild left an estate of $514,611.12 including real property in St. Thomas valued at $56,407.14, other property in the Virgin Islands and elsewhere including capital in stocks and bonds, valued at $358,263.12, personal property valued at $10,324.65, and cash in hand and in banks in the amount of $89,616.21.

Most of Mr. Fairchild's estate went to relatives, but portions were also distributed to several persons who were in his employ for many years.

Lot No. 14 of Estate Lerkenlund, about .6 acre, was deeded to the Municipality of St. Thomas and St. John. Before he died he also deeded Magens Bay and the Park area to the municipality.

Atty. William Bailey, attorney for the estate, declared in a Memorandum to the Commissioner of Finance that the payment of the taxes is made not under protest but with the reservation of the rights of the estate to claim a small proportionate refund from this payment of taxes in the event the U.S. Treasury Department eventually decides in a proceeding now being contested in the courts by the New York executors of the will that Federal inheritance taxes are payable by the estate.