The New York herald., 1879-01-04
THE VANDERBILT WILL.

SURROGATE CALVIN ASKED TO ENJoIN THE Ex-
EcUToRs FOR cAUsE-cHARGEs AGAINST WILL
IAN II. Observation-Disclosures COMPLAINTS
pREFERRED AGAINST THE MANAGEMENT OF
THE ESTATE.
petition filed yesterday in the Surrogate's
Court by Mr.. Cornelius J. Vanderbilt. in which the
following complaints made against Mr.. William
H. Vanderbilt and the other executors of the Wander
bilt WILL and prays the Court to issue citation 're
quirng William II. Vanderbilt Cornelius Vanderbilt
William X. Vanderbilt and Samuel Barton, executors
to show cause why they should not be superseded.
and that they may be enjoined from further acting
in the premises until the matter in controversy shall
be disposed Of" The is set down for hearing
before Surrogate Calvin on Monday next.
The complaints are preceded by the statement that
the petitioner legatec under the will of the late
Mr. Vanderbilt under judicial consideration by
Court and that for the security of
necessary provision for his that the estate
under that will should be managed with prudence
and economy, and that stated i'll tho fol-
lowing complaints he asks the action of the Court
THE COMPLAINTS.
Fst-That the estate OF said testator consisted of
real and personal estates, and amounted to
0O0 that the real estate of which he died,
seized possessed, was of a value OF not over
S5.0oO.0oO that the residue of his estate was per-
sonal and consisted mostly in the bonds stocks and
railroad corporations other
transferable and negotiable securities.
.Sec0nd-rhat said William H. Vanderbilt has no
property that he has not acquired from said deceased
and nat his individual property is not sufficient by
many millions to meet the obligations and liabilities
hereinafter referred to.
Thiyd-That Cornelius and William X. Vanderbilt
are sons William H. Vanderbilt and have prop
erty of any considerable value independent OF the
legacies given them by said will.
F0urth-That Samuel Barton has no property Of
any considerable value and that the joint property
the said three last named executors. independent
.,4t lono Al
onethousandth part OF said estate and your Pc
tioner believes that it is i'll fact less than such thou
FfA-That William H. Vanderbilt, in fact, con-
trolls the estate and the action of the other executors
is under his direction whenever he sees fit to exer-
else the authority he has assumed.
Sirh-That William H. Vanderbilt has paid three
OF the legaces given to his in the codci to the
will. amounting to over S5,50O0OO, Notwithstanding
the filing of such allegations.
.Sepenth-That William II. Vanderbilt is speculating
in stocks on gigantic SCALE and to greater extent
than has been known, and that to carry such
specuations he has used and is using the assets of
such estate to very large extent as coaterals to
loans otherwise, and has borrowed anu is owing
the OF $4,000 900 for specuatng purposes.
W. II.
Eighfh-That William H. Vanderbilt has lost in such
! speculations several millions of dollars.
| N,mU-That William H. Vanderbilt Is Of excit-
able and reckless terperament, and is cndeavorng
to sustain the will. expendins large and unnecessary
| sums of money in procuring and intimidating wit
nesses ands Offering large sums to induce witnesses
sworn by the contestant change their statements,
which they have made under oath such witnesses,
and has declared that to sustain such will he would
| spend the whole estate III litigation.
TenUt-That william II. Vanderbilt and the other
| ccutors qualified to manage with prudence
and reasonable sagaciy SO large an estate and par
ticulary William II. Vanderbilt is only wild
and reckless in his financial operations, but is
arging his railroad interests by paying more than
the interests purchased worth, and is using the
assets of such state for said purpose, greatly to the
hazard thereof.
large debt to the various railroad corporations OF
which he is president by Withholding for his own
to which their creditors their stockholders
titled That such money is withheld by him and ap-
propriaed to his own use by various contrvanccs,
among then interior companies or corporations for
the carrying OF freight and passengers, the Mer
chants Despatch and the Wagner Palace Car Com
pany, and that the aggregate thus diverted from
such railroad corporations is very large. That the
amount received is recklessly invested, that it
does not in fact increase the value of his estate,
while subjecting him to large liabilities which may
ut any time be enforced against him.
PROPERTY DANGER.
Tcclffh-That said deceased lett surviving him
ten children, and. in case the probate OF said will
is revoked said estate will be divided into ten equal
shares of which the said William IL. Vanderbilt will
be entitled to but onctenth, the leases he holds
from several OF the heirs and next of kin In such
would tail for want of consideration, on tho
ground that they were frauducntly obtained; that
about the time said William II. Vanderbilt procured
said releases not in consideration thereof, but as
gift and for the purpose of inducing them not to file
allegations under tho statute to revoke the probate
of such will. he gave to the persons who executed
such releases about the sum OF $3,G000O0 and has
paid to them the egaces in said will bequeathcd to
them, amounting to about S2.50O00J That the lcsa-
cies paid to them and to his said sors amounting
in the aggregate to about Sll, l,O00,OOO. such gifts
amounting to about S30OO,cc0. the sum borrowed,
as aforesaid, for the purposes of speculation,
amounting to $1SO00,0UO and over, the other
indebtedness before referred to. excluding the
amounts to which. upon the distribution
of the estate of said deceased, his next of
kin will be entitled, and including the amount lost by
said William IL. Vanderbilt as before stated will in the
aggregate amount to q not less than
aIf the personal estate which the said dcccdent
had and possessed at the time OF his Heath.
Th1reentt-That the habits, associations, spccula
tions and expenses OF the said William II. Vanderbilt
are such to create belief, entertained by many
who have the best and fullest opportunity OF know
ing Of them, that the property he controls will
ultimately be wasted G.. J. VANDERBILT.
JOHN L. LORD, attorney for petitioner.