Wilmington daily commercial., 1875-07-21
The Difficulty of Making Wills
PRoBABLE FUTURE CAsFs IN NEW YORK.
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PRoBABLE FUTURE cAsEs IN NEW YORK..
New York Cor. Rochester Democrat
There are several large estates now in process
of accumulation which must soon be by the nat
ural law OF mortality brought before the surro-
gate. One of uhem is that OF Wm. u. Aator.
The old man knows how difficult it is to draw Il
will that can stand. His father employed Dan
iel Lord the best commercial lawyer in the city,
10 the service, and yet Lord made come error III
the Lsngdon clause, which threatened law
suit. To avoid any such liability il, as they now
say, matter of study with William. His faith
or died in 1Si3 twenty-seyen years ago, leaving
him tho residuary egaee. At the
age of ffty-six William Is. found him
self in possession OF one of tho largest
properties in the city. The executors fees IN
settling the old mans will were S50, 600. Wash
ington Irving was one OF the executors and
pocketed $4,000, without any service, except
an occasional signature. William has two
daughters, Mrs. Cary and Mrs. Delano, and
three sous, John Jacob, William and Henry.
The latter is not 'bfight" and yet can hardly be
said to be unidentified. He has been kept for
sly manner, country ghl, which was an annoy
ing surprise to the family. William and John
Jacob are men of middle life and both married.
The latter has a son Just graduated from the
law school. He bears the name of their old
home on the Rhine, Waldorf, and tho largest
part of tho estate will, no doubt,
eventually go to him, siuce his faith
er is the eldest son. 1t is sup
posed that Henry will be placed in tho care
of trustees, that the daughters will get por-
ton equal to 100000 between them, that vii
liam will have double that amount and that the
rest will go to John Jacob. In this case per-
haps the daughters will appeal to law, and if
3d. We shall see first class family fight, and
heavier law fees than have "a yet been put Oh
record. To avoid these difficulties is now a
yexatious question with the old man, who finds
that uneasy lies the head that wears the name
of capitalist. An illustration of what girls can
do was given in the Mulford Martin case. Mar
tin was immensly rich and in his will only left
the daughters about 100000 apiece, whereupon
the latter went to law and got large in
crease.
ANOTHER IMPORTANT ESTATE.
Thisvis that OF Commodore Vanderbilt, which
consists largely of railway property, and is esti-
ted at $40, 600, ,000 The Commodoies income is
supposed to be nearly 52, 900 year. Like
Astor, he has one worthless son. Thisls Cor
nellus, Jr., but very different man from the
senior. He is under the power of dissipation,
and in fact has for years been spendthrift.
The old gentleman has refused to pay his debts,
and has declined having anything to do with him
for years, although he is allowed Il pension.
Whatever may be allowed to this unfortunate
man will no doubt be placed under trustees.
There were nine daughters some of whom are
dead, but most Of them We're married and
son, and yice-President of the Cen
tral Hudson, is now lifty-three. lie
was never known as business man until about
ten years ago Previously he had lived 4s a
farmer on Staten Island, which is the family
home but when the Commodore got control oi
these roads he called William to this city in or
der to instruct him in business. At present his
position Is more trying on account OF the severe
competition inflicted by the Baltimore and Ohio
road. In dividing his real estate tho Comm0-
Il l,ac 10 t4lp - lt
probable that he means TO make William his
chief heir ; but if this be the case the others
may have recourse to the law, and it would no
doubt be as easy to break the Colnmodorcs will
as that OF other men OF great talent.
STEWART.
Astor, Vanderbilt Stewart As the three
kings came to worship the Messiah, so have
these men come to worship the idol of wealth.
The first is of the German, the second Of Dutch,
the third of the Scotch though born in Ireland.
The first is king of real estate, the second is the
railway king, while the third wields the empire
Of dry goods, The Stewart property probably
does not include any railway shares. 1t is es-
timated at s25, 100000 to $50 100000. Stewart
is childless, aud tho question concerning the
disposition of his estate is an important one.
He has kindred in the old country
who have their eyes fixed upon that
amazing wealth which now aclnowl.
edges him as master. AS lie is now seventy-six,
il will not be long before new owners will be
wanted for it, and then their chances may be
tested. 1t il said that Stewart contempates yari-
GUS benevolent endowmentH; il he really desires
to found them his proper method is to see
his work performed. Let him follow the exam
p. afforded by Peter Cooper, and thus forever
bar all subsequent quarrels. Thus far he las
shown no disposition to do thie. Much has been
said of his girls lodging house. by which title
the public has designated lie huge structure on
Foulth avenue, but it cannot be learned
what are his intentions with regard to the
establishment. Stewart is peculiarly reti-
cent rs to his plans. with one exception. He
fully admits the money-making feature. He
is bent on making all ho can. Having an i'm
mense cash surplus, he can woild it with great
effect in purchases of land, which is now very
low. He is gathering wealth with an immense
rapiditv Int it will soon be the subject of
fierce battle, and one OF these days the public
will be entertained with the details OF the
Stewart case" John Mason was the Stewart
of his day, and lis estate was, as / have said,
i'll the courts for quarter of century. To
conclude, it is my opinion that the meu
who lives to see either of these great estates
administered to a permanent conclusion will he
n much older man than the ayarapn