New-York tribune., 1879-04-08
THE VANDERBILT CLAIMS.
CONDITIONS OF THE COMPROMISE.

THE SETTLEMENT OF WILLIAM ". VANDERBILT
WITH HIS YOUNGER BROTHER AND MRS. la BAU
THE PROVISION FOR THF PAYMENT or THE
DEBTS or CORNELIUS J. yANDERBuT-FURrHER
FACTS ABOUT PAYMENT 10 THE DAUGHTEEs or
TIE LATE MR.. GREELEY.
The TRIBUNE announced exclusively on March
last that a compromise had been effected between
William II. Vanderbilt, the prOponent of the will
of Commodore Cornelius Vanderbilt, and Mrs.
La Bau. the contestant, and Cornelius J. Wander
bIlt, the plaintiff in another suit in the Supreme
Court, which was merely tender To the
suit to break the will. 1t stated at
that time that it was well known,
though not generally acknowledged, that the ter
mination has been brought about by compromise
which involves also the pending suit of Cornelius
J, Vanderbilt against W. II. Vanderbilt Some of
the evidence which the two plaintiffs Mrs. La Bau
and her brother. prepared to submit in the
event Of further contest of their claims told to
Judge RapqllO, and the latter's advice negotla-
tI0ns and compromises followed. Cornelius j. Van
derbt to receive ST. 900 600 and his expenses in
the suit in the Supreme Court, and Mrs. La Ban,
now Mrs. Berger. like amount and costs and the
will of the late Commodore Vanderbilt is to remain
uncOntestcd"
This statement was Indignantly denied the next
day by several counsel IN the cases and applca-
tion was made at this office for statements that
neither Cornelius J. Vanderbilt nor George Terry
had furnished the information. Verbal assurances
were given to that effect. as could properly
enough be done, because it was intmated
that the compromise might be repudiated by Will
liam H. Vanderbilt if the report had been authorized
by either Of the abOve-namcd. But the fact
nevertheless, remained that the compromise
had been effected and the terms agreed
upon were practically as stated. The round
-...
should De paid Cornelius J. Yanderbilt was sub
divided "A appears. but was not then stated,
follows: The debts of Cornelius J. Vanderbilt
10 an amount not exceeding $500 900, at
which they were estimated, We're to be paid
and that TO the Greeley estate first of all G,
J. Vanderbilt represented that this 100000 woud
cover his Indebtedness TO the Greeley estate George
Terry Z L. Simmons, and all others, with interest
and 10 understood that any balance of the
$500 900 over and above these debts should be paid
him in cash. rhe$2O0 600 left him by hsfatherin the
VIII just admitted TO probate was 20 be pad-that
is to say the income of this sum. la addition.
William II. Vanderbilt agreed TO pay his brother
$500. 900. Pending the investment Of this latter
sum, William RI. Vanderbilt was TO guarantee his
brother per cent on the half million named until
Cornelius could select other securities IN which to
invest This Mr. Vanderbilt the younger, did on
Ed. Worcester secretary OF the New-York Cen
tral Railroad who has been for many years per
soual friend of both brothers. and who in the pro-
posed absence Of Cornelius j. in Europe for some
years to come i'll have the direction of all his in-
vestmrnts The payments 10 Mrs. La Bau-Berger
were as already stated, but the details IN the
case Of Cornelius j. Vanderbilt, are not yet ready
to be made public.
The Cross examination in the Will case which Mr.
William II. Vanderbilt was desirous Of avoiding
had no reference whatever 10 his personal charac-
ter as has been stated but related solely to his
financial condition. Naturally 1t would be
great drawback to man in Mr. Van
derbllts position to be compelled to state
on oath The nature and amount Of his immense
investments. and consequently 8lr. Vanderbilt
wished to AVOID interrogation on these points. The
compromise followed, as stated in THg RIBUNE of
March .. above quoted. The other papers of this
city yesterday confirmed the news published by
IHE TRIBUNE a month ago, without, however, CIV
ing the above details.
Il should be added that William II. Vanderbilt
insisted that the debts of Cornelius J. Vanderbilt
should BE- paid as a preliminary 10 further settle
ments In accordance with this arrangement. Cor
nelius J. Vanderbilt has paid a large sum. not
definitely ascertaIned, 10 Z. l.. Simmons TO George
Terry 100000 TO Curtis Bacon, of Middetown.
~ 900, and 10 the two daughters of the late Mr.
Greelcy $6I,1s7 The details of the latter indebJ-
edneso aud It's payment have special interest for
the readers Of The TRIBUNE. and are given below.
Mr. Greeley began to lend money TO Cornelius J.
Vanderbilt when the latter was a very young man.
He did 80 out Of sympathy with him, because Mr..
Greeley believed that Cornelius Vanderbilt, the
old Commodore, was needessly harsh toward his
Youngest son. Mr.. Greeley may have believed the
numerous stories Of the young mans bad habits
# go. ne did not believe that harsh treatment
and cruo deprivation or boy trained 70
think be had " great expectations was the right
way to cure MIN of evil courses. Mr.. Greeley was
a man moved almost as much by sympathy as con-
yictlOn. and the case OF young Vanderbilt excited
his pity 10 such an that down 1864 he had
loaned him in various amounts an aggregate Of
S459 93l. In the year named Cornelius j. Wander
bilt was adudicated a. bankrupt, and being dis
charged as such bankrupt of course the debt 70 Mr.
Greeley was practically cancelled in legal point
of view But on December 1, 1s6S, Cornelius j.
Vanderbilt sent Mr. Greeley by mail two notes each
for 9G2 at per cent interest and running
years. to secure hun for the moneys advanced al
various times, and represented by many notes aud
drafts for various amounts all of which were sur
rendered by Mr. Greeley in the bankruptcy proceed
ings. Mr.. G. j. Vanderbilt claims TO have received
from Mr. Greeley in reply letter saying that he &C.
J. " did not owe him Mr. g. anything, but adding
that he would retain the notes for his children.
subsequently, Mr.. Vanderbilt drew upon Mr.. Gree
lev for the following sums all OF which paid
lsGS-Draft rom WashIn gt0n 500
lS7O-Daft from Washing on 90
Is7U-Drait from Washing lOJO
Iz-n-Traft fran H1sulu 800
Total .....-............. s. ,625
OF course the latter sums have been Outlawed
long ago, and c. j. Vanderbilt was rot legally
nound 70 pav them bat on being told that they