It was said at the corporation counsel’s office that if it shall be proved that Mr. Gould has left his personal property, especially his railroad interests, in hands of trustees for a term of years, the interest to go to his children, the fact that the estate is in the hands of trustees cannot prevent the state from levying and collecting the inheritance tax. Said one of the assistant corporation counsels: “If Mr. Gould could by the terms of his will, by deed or gift or otherwise, make such a disposition of his estate as to render the law in such cases nugatory, his children and heirs to the remotest generation, when they came to devise their property, could do the same thing, and the estate would thus be perpetually barred of its rights. I believe that the personal estate that Mr. Gould has left for the benefit of his children, no matter in what form, is taxable at 1 per cent. All property left out of lineal descent would be taxed at 5 per cent. on its clear market value.” In spite of Jay Gould’s many millions, he was down on the tax-lists for very modest amounts. He seems to have had as much ability in keeping down his taxes as in piling up his millions. Despite his immense accumulations, he paid taxes on only $500,000 in personal property. The real estate on which he paid directly was confined to the Grand Opera House, of which he was the owner, and to his home on Fifth avenue. At one time he also paid the taxes on his son’s home on East Forty-seventh street, but after that formally passed out of his possession he was, of course, relieved from paying any further taxes on that property. Notwithstanding the very conservative estimate placed upon the value of his personal holdings, Mr. Gould tried, a few years ago, to escape paying any personal taxes at all in this city. He urged the familiar plea of outside residence, and because he paid personal taxes in Westchester county on his belongings at his country home at Irvington, insisted that he was being unfairly treated in being compelled to pay even on that supposititious $500,000 of personal property in this city. He did not press the matter, however, and continued to allow his personal property to be placed on the tax-list at $500,000. Commissioner Baker, of the tax department, said that it was impossible to tell just what Mr. Gould’s holdings in real estate in New York really amounted to. “Real estate,” Mr. Baker explained, “is entered on the books of the tax department by number only. The only way to get any idea there as to the ownership of a piece of property is to see who paid the taxes on it. According to this test, the real estate on which Mr. Gould paid taxes in New York is confined to his residence. The Manhattan Railroad Company is a large holder of real estate, but the company pays its own taxes, of course, and the only place Mr. Gould’s name appears on the tax department books is in relation to his residence and the admitted $500,000 of personal property.”