HOUSTON MILLIONS.
PAYMENT TO EXCHEQUER. (by cable—pbbss association—copyright.) (Australian and s.z cable association.) (Received November 24th, 8.25 p.m.) . LONDON, November 23. The ."Evening (Standard'' states: "It is reported on the Stock Exchange that Lady Houston, in order to provide ready money to meet her payment to the Exchequer, sold 250,000 of Courtauld's shares at £7 each. The deal was so cleverly conducted that it has not affected the quotations." TSir Robert Houston died, leaving an estate valued at £7,000,000, on which death duties on the British scale would have been £3,000,000. Earlier cables indicated that there was some probability of the claim of the Chancellor of the Exchequer being contested on the ground that Sir Robert Houston was domiciled in Jersey. Lady Houston offered as an act of grace to forego her share in the amount that would be saved to the estate by the non-payment of death duties, and to pay this sum to the British Exchequer.]
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Press, Volume LXIII, Issue 19167, 25 November 1927, Page 9
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158HOUSTON MILLIONS. Press, Volume LXIII, Issue 19167, 25 November 1927, Page 9
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