The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-28
THE VANDERBILT ESTATE.

STAY OF PROCEEDINGS GRANTED BY JUDGE
DAVIS IN THE MILLION DoLLAR sUIr-THE
APPLICATION TO REMOVE THE EXECUTORS
AND FOR AN ACCOUNTING.
dense throng filed the surrogates Court yester-
day afternoon to hear the argument the applca-
ton of Cornelius J. Vanderbilt to have William H.
Vanderbilt and the co-executors superseded i'll the
management of the estate the ground that it is
being badly managed and in danger OF being ruined
through speculation and extravaganza the
part of William ii. Vanderbilt, who, it is
claimed. has already borrowed some $17,O00,000 to
aid his speculatons. The petition. which has
already been published, will be remembered, sets
forth that William II. Vanderbilt is specializing in
stocks gigantic scale and greater than ever be-
fore known; that he has lost several millions Of
dollars in such speculation; that he has declared
that to sustain the will he would spend the whole
estate il necessary; that he is of helpless and
ctabe nature and is contracting large debts and that
the property he controls will ultimately be wasted.
Mr.. Scott Lord, on behalf of Cornelius j. Wander
bt read the petition at length and then urged that
the facts set forth fully justified the granting of the
prayer of the petitioner.
Mr.. Henry L. Clinton moved to dismiss the motion
on the ground that the provision of the statute under
which the motion made had no application to
the executors. This motion was not the proper
remedy in the case. If there was any. Cor
nelius j. Vanderbilt had elected to take the
interest on 100000 given him under the will
and the executors had ceased to be executors far
he concerned. but were merely trustees. There
nothing in the petition to show that single dol
lar in legacies had been paid after the filing of the
allegations AS to Mr.. William II. vanderbilt's specu-
lations in stocks there nothing in the petition
prove that his profits have not exceeded his losses
to show that he used any money besides his own in
such speculations. The petition itself showed that
the chief executor worth almost 100000. OOO
which was, he claimed, quite enough to secure the
petitioners $500, 600.
Mr.. Lord stated in reply. that they had never rec
Bau had received money from the estate
cognition of them. They could not be con-
sdered trustees until the allegations settled;
and. besides the Courts power them the
same either al executors or trustees
Mr.. Joseph H. Choate, in opposition to the motion.
made the concluding argument. after which the
Court took the papers, reserving it's decision.
THE ONE MILLION SUIT.
The suit brought by Cornelius Vanderbilt against
alleged agreement that the defendant would pay this
sum to the plaintiff on his interposng opposition
on the calendar yesterday of Part g. Supreme Court
Circuit, held by Judge Landon. On the case being
called. the counsel in two suits awaiting trial OBJ
jectcd to the being preferred before theirs as
their first placed the calendar, for
which they insisted their being tried
in their order.
Mr. Scott Lord stated that he desired to inform the
Court that he had been served with a stay of pro-
ceedings granted by Judge Davis until struck jury
could be drawn for the trial of the case. He urged
that the was not one for which struck jury
ought to be drawn, and he reason why the
ordinary course should not be followed Aside from
this he urged that the stay was nullty in that only
circuit judge could decide whether it case for
struck jury. He asked the Court for order to
show cause why the stay should not be vacated and
the be allowed to to trial in the ordinary way
After a brief discussion Judge Landon granted the
order asked for. making the same returnabe half
past three p NJ. to-day, when the matter will come
up for argument.
The decision Of Judge Davis granting the stay re-
fprrpi tn Inv I.nr0 tha
being embodied in lengthy opinion. He grants the
stay until the beginning of the February
term. After reciting the facts of the he
holds that the issues of an extraor-
binary character, and the controversy now pend
ing the Surrogates Court has excited great public
interest, it would be difficult to unbiased
jury from the ordinary panels Another for
the stay is that the trial cannot be concluded in the
present term that will probably last weeks
that neither party will suffer by the delay, and that
it would be far better to be tried by fresh jury
wearied by weeks OF attendance in court.