Salt Lake Telegram | 1935-03-29 | Page 9 | Morgan Sells Treasures to Get Tax Cash

Morgan Morgan or an Sells e s I Treasures to o oe Get e Tax ax Cash as NEW YORK March 29 UP UP- UP J J. J P. P Morgans Morgan's liquidation o ot of p personal personal per per- r assets was explained toda today asa as asa I Ia a far sighted farsighted sighted move to provide adequate ade ade- adequate quate cash to pay taxes when he dies State Stale and federal taxes will approximate approximate ap ap- proximate 70 per cent of ot the vast I Morgan estate it was estimated Holdings in the international banking banking banking bank bank- ing house and securities possibly would face hasty liquidation If cash were not available for l Morgans Morgan's an s heirs Despite Morgans Morgan's vast fortune he has comparatively few personal assets as as- assets is- is sets in cash it was said Millions are represented in the theart art collection started by the late John Pierpont l Morgan Approximately has been realized from sale of or paintings paintings paint paint- ings since January 1 1 i f