, 1880-03-31

life, not only to individuals QUITO public
charities, and it will be a matter Of sur.
prise to many when the learn that
$3.50, 600 of Wiliam'Niblo's money IL turned
ever to Mr.. Robert Hoe, Jr., to be expend-
ed, IS he may aeem proper, for 3 library
for the y9nag Mems Christian Associar
tor. THIS boqusst is perhaps the most
maalfcent of the kind ever made. for this
purpose in the United States, and exceeds
The first sum devised by John Jacob Astor
for the library which bears his name. In
a brief summary Of the will of the late
William Niblo, in THE Times Of Aug. 80,
1915, the following may be found;g HAfter
some minor requests, he gives the residue
of his estate to his Executors in trust for
the benefits of the Young Mems Christian
Association of New-York, with a request
that it be applied to the enlargement and
maintenance of the Niblo Library, in Goa
nection with the association This inter
probation of the will is exact in part, but
not III particulars, as the residue of the
estate is to be expended for the library of
the Young Mems Christian Association
as Mr.. Robert Hoe, Jr. may deem proper.
At the time of Mr.. NiblO's demise his pro-,
perty wa estimated to be worth S150,000;
but to-day, after all beQuests have been
settled, to the amount of also, 600, the resi-.
due, $3.50, Goo still remains for the library,
and this very handsome sum the Execu-
tors, Franklin Chandler and Jacob K.
Lockman, will turn over 10 Mr.. Robert
Hoe, in order to fulfil their trust. This
matter, of Mr.. NiblOs money has presented
two differences from those of ether estates
first, there have been no disputants, no
false heirs claiming money, no litigation;
and, secondly, the total OF the money was
much more considerable than was at first
supposed 1t may be stated that, ON the
death of Mr.. Niblo, some establishment was
expressed that he had left no real estate.
1t seems that, with a great deal of good
sense, perhaps dreading complications
after his death, and having no direct heirs.
such real estate IS he might nave been
possessed of 10 or 15 years prior to his
death he either gave away or disposed of,
reinveSting his capital i'll good personal
property, such as United States securities,
bonds and mortgages, and sound bank
stocks. The securities being then of q
marketable character, and of ready sale,
has enabled the Executors to close out the
estate in the remarkably short period OF
fourteen months.
The history of this very handsome be-
quest to the Young Mems Christian Asso-
citation for the purposes of a library, may
be traced up as follows: Some years
AGO. when the Young Mems Christian
Association Library was commenced, its
books were few and OF a poor character.
Some influential gentlemen in the City
then commenced looking about them in
orlsr to increase the library. About this
time the Barton Library was offered for.
sale. Mr.. w. e. Dodge Jr, with Mr..
Cephas Drained, being on the Library
Committee, called IN Mr.. Robert Hoe,
Jr., to devise plans for securing funds tor
the purchase of this library. MIR. Hoe,
having asked Mr.. Niblo for help, received
at once a check for $1,000. In all, some
$780, 900 was raised-not One-half, however,
of the amount asked for the Barton Library.
While negotiations were pending, Mr..
Barton died quite suddenly, and it was
found that by his will a provision existed
which insisted that his library, no matter
to whom sold, should be only kept In a
Gre.nroof building. AS the Young Mems
christian Association Building was not
~fre.proof, the possession of the library was
rendered impossible; SO, when the matter
fell through, the 81, 1000 contributed by MI.
Niblo was returned to him. This money.
he declined taking back, saying to Mrs
Hoe at the time, 1--WE will buy a library
some day, anyhow-trust to luck" Feel
ing directly Interested in this library
scheme, in 1873 it was known that Mr..
Nib,o intended giving his books to the
association. This actually took place In
1874. and $50 volumes, mostly relating
20 the fine arts, are now in a case in the