Ernest Charles Pegler

“ Mr. Moribund, by his will, left everything of which he was possessed to his widow absolutely. This property, after deducting debts, amounted to £137,500, but an examination of his affairs disclosed the fact that two years previously he had conveyed as an absolute gift to his son, Morton, the sum of £100,000. This money had been invested by Morton in Bearer Bonds of the Royal Japanese Steamship Company at an average price of £80%, but on the date of Morton's death these Bonds stood at £120%. ”

“ You know the course Executors should take
To carry out their Trust, without mistake,
Without delay.
Give me then help to ascertain the rate
Of Duty payable on the Estate;
The Residue,
Which goes to Mrs. Huckett, and which may
Be challenged by her lawyer; and I'll pay
A fee to you.
PROBLEM No. 37.
The late Mr. John Bunyon died in affluent circumstances after having, by the exercise of keen business instincts, overcome those obstacles which confront every great philanthropist who combines the cause of humanity with the desire to achieve wealth and fame. ”

“ Mr. Solfar made during his lifetime advances of £500 to each of his Sons, which at his death were brought into Hotchpot, and interest charged thereon at 5% per annum. He directed his Estate to be left in Trust, the Income to be applied, first in payment of £75 a quarter to Mrs. Solfar, and the balance to be distributed half-yearly in equal shares to Matthew, Mark and Mary.
Write up the books of the Trust, ignoring Income Tax, for the year ending 31st March, 1914, the balance of Income in hand on 1st April, 1913 (after making all necessary payments to the beneficiaries) being £12 0s. ”

“ Sir Hazel Knut, Bart., died, and the whole of his Estate, after the payment of Estate Duty, Debts, and all expenses, amounted to exactly £15,000.
He bequeathed the following Legacies, all free of Duty except the Settled Property.
Lady Knut, his widow, £2,000.
Lady Knut also had the use of a Governess Cart, together with a Shetland Pony, for life, with remainder over to the Toddington Cottage Hospital. These were valued for Probate at £60, and the value of the life interest was computed at £12. ”

“ Some people say there is no romance in business and that a Brass Plate never brings Clients. Don't you believe that for one moment. Why, Jones owed all his misfortunes in life to a Brass Plate and a Motor 'Bus! It happened as follows:—
Mrs. James Wardle's Husband died on the 30th April, 1914. He was always called Mrs. Wardle's Husband, and he very properly left her his entire fortune, which, at his death, consisted of the following property:—
Freehold Property valued at £6,500, subject to a Mortgage of £4,500 at 5% per annum. The Interest was paid up to the 31st March, 1914. ”

“ The Freehold Estate, comprising Mansion House, Park, and Home Farm known as "The Piggeries," valued at £15,000, subject to a Mortgage of £10,000 at 41⁄2%, interest payable 30th November and 31st May, paid to 30th November, 1913.
He was also life tenant of Real Property producing £3,000 per annum, in respect of which there was income accrued due but not received prior to death amounting to £900. ”

“ It is a strange circumstance that little men with red hair usually have large families. At any rate Septimus Hawkins had red hair and twelve children, of whom eleven were living, but strangest of all he died intestate worth £122,600 subject to the payment of Estate Duty, and of which the Real property was valued at £36,000. ”

“ All accruing income to be ignored.
PROBLEM No. 18.
Mr. Harold Wimpole died in his Opera Hat, and was buried in Willesden Cemetery.
His Will had been proved, Estate Duty had been paid, and the Widow, who was the sole Beneficiary, had found considerable consolation in the £56,200 which had come to her.
This £56,200 represented the Gross Estate, less Debts due by Mr. Wimpole at his death £1,416, Funeral Expenses £39 17s. 0d. which were regarded by all, including the Inland Revenue Authorities, as most reasonable, Estate Duty, Interest on Estate Duty £31 16s. ”

“ Show what Estate Duty and Legacy Duty were payable upon Sir Robert's death.
Note.—The wooden leg was returned by the Secretary of the Royal Hospital for Incurables at Putney, and being found to be of no intrinsic value was eventually deposited in the family Mausoleum at Norwood.
PROBLEM No. 20.
Mr. James Hotchkiss died in the autumn of age on the morning of his 93rd birthday.
During his protracted life he had always surrounded himself with every comfort, and was reputed to be an exceedingly rich man. ”

“ Write up a Cash Account, showing how the Legacy of £5,300 was divided between the Executors.
"Miss Tulip's heart was forthwith pierced."
PROBLEM No. 28.
Every Sportsman will admit that it is immoral to bet upon a certainty, and most business men will endorse the maxim that only fools speculate without inside information.
Now Mr. Hunter never gambled, but he was open, like most other men, to a sound speculation, and when he learned in his capacity of Clerk to a well-known Solicitor that Miss Rose Tulip had inherited a fortune of £60,000 odd, he naturally felt interested. ”

“ Charles Gubbins she thought how empty widowhood really was, and what fine men were the Grandsons of George Gubbins, Founder of the Gubbins Family.
Such feelings were not to be denied, and after three months of courtship Mr. Charles Gubbins and Mrs. Oscar Gubbins were declared man and wife by the Rev. Stephen Collins.
For 10 years Mr. and Mrs. Charles Gubbins lived together as happily as a married couple could, and four beautiful daughters, Rose, Violet, Daisy and Poppy were born to them. ”

“ Now Vincentio Dorando was an Italian subject, whose nearest living relative was a First Cousin once removed. He had been educated at Oxford and had spent the greater portion of his life in England, but at the time of his death he was domiciled in France. ”

“ Mr. Soworthy was a man of many hobbies, and in addition to his prize pigs he possessed a unique collection of silver salt-cellars reputed to be one of the finest in the country. This was valued for Probate at £5,000, while the pigs were estimated to be worth £2,500.
In addition he died possessed of the following property:—
£5,000 India 3% quoted at 753⁄8-7⁄8. ”

“ Everybody turned up and the Rev. Stephen Collins spoke for 47 minutes. The £5,000 Stock was sold at 90 net, and the necessary entries were made in the books of the Trust, showing the settlement of Montgomery's interest in the Estate. ”

“ Very few men can state with any degree of accuracy how long they will live, but Nathaniel Hibbert told his Wife he would die at 8 o'clock in the morning of Tuesday, the 22nd April, 1913, and he did die at that very time on that very day. ”

“ The Funeral Expenses amounted to £12.
Mr. Herbert Turvey was buried on the third Thursday after Guy Fawkes' Day, and on the following Tuesday fortnight the Widow gave birth to a son. Both mother and child progressed amazingly and everybody called to visit Harriett, but chiefly to satisfy their curiosity as to the amount which she inherited.
Don't keep them waiting.
PROBLEM No. 22.
Mrs. George Dumpkins was very vexed that any Estate Duty at all should be payable, and when she was told that a Corrective Affidavit would have to be presented she threatened to change her Solicitors. ”

“ James Duncan, for life, with remainder over to Mr. Duncan's eldest son. He left the Freehold House to another Oxford friend, Mr. Wallstone.
Show what Duties were payable to the Inland Revenue Authorities upon the death of Mr. Vincentio Dorando.
The Jollybuck Twins —as they appeared, no doubt, to Mrs. Jollybuck and the Nurse—prospective world-geniuses.
PROBLEM No. 9.
The Nurse described them as the most wonderful Twins she had ever seen; but then Monthly Nurses always speak in this way!
The Mother said that she had never known children exhibit such intelligence at so early an age ”

“ Summers of a portion of this scandalous taxation, and so, converting as much of his property into cash as he could spare, he invested the same in various ways in other countries.
He bought Russian 41⁄2% Bonds in Holland of the nominal value of 200,000 Guilders, and a Freehold Farm near Amsterdam, which cost in English money about £8,000.
He bought Freehold Land in Canada, for which he paid £80,000, and deposited with the Calgary Investment &Security Trust $300,000 at 5%.
He lent on Mortgage in New Zealand £40,000, and he had a balance of Fcs. ”

“ The following facts were therefore submitted to the learned gentleman:—
Mr. Dumpkins' Estate had been proved for Probate purposes at £71,000, but during the year after death the following Assets were realised and Liabilities settled, viz.:—
£18,000 31⁄2% India Stock valued for Probate at 947⁄8, realised 91. ”

“ The Will was duly proved, Estate Duty at 9% was paid, and the interest on the Estate Duty amounting to £165 3s. 0d. was paid on the 14th November, 1914.
What was the value of the Net Legacy received by each Beneficiary? There was no Real Estate.
"For nearly 25 years he had been a Judge of the Probate Division."
PROBLEM No. 24.
Mr. Justice Oats died in harness. He worked like a horse throughout his long career on the Bench, and was universally regarded as a thoroughbred sportsman. ”

“ Rooker never paid for cabs on principle, Mr. Bunyon ordered the chauffeur to drive to Attenborough's and there placed his diamond pin in pledge for the sum of £5. Feeling somewhat faint after this exertion, he instructed the chauffeur to drive to a Chemist's where he ordered a pick-me-up. The Chemist not knowing his customer, considered his symptoms a fit case for a dose of "Bunyon's Specific," of which Mr. Bunyon unwittingly partook, and so met his death.
Mr. Bunyon's Will was found to contain the following Legacies and Devises in favour of the Rooker Family:—
Mr. ”

“ The name of this latter creditor was Gunter, and the debt, amounting to £25, was in respect of repairs to certain pigsties.
The discharge from Bankruptcy had been obtained by Sir Robert eight years previous to his death. His liabilities had amounted to £16,200, and he had paid 2s. 6d. in the £. ”

“ Cash at the Bank £355 on Current Account and £2,000 on deposit at 3%, interest payable 30th June and 31st December.
£5,000 Policy in the Live Stock Breeders' Mutual Assurance Society, upon which the Bonus at the date of death amounted to £190. ”