The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-12-13
VANDERBILT'S WILL.
The Division of the Property
Of the Rich Man.
THE F0RTY-NINTH CONGRESS
The Proposed Change OF RuIes-Mat.
teFsin the East-The Funeral of
the Bing-Oiher Notes.

|
NEW YORK, December 12.-The will Of
William H. Vanderbilt bequeaths $40.
100000 to each of his eight children
nearly $1,0OO,C0) is given to charitable
institutions and the remainder of the
fortune is divided equally between
Cornelius and William K. Vanderbilt.
He directs that all railroad stocks shall
be held in bulk and administered for
! the best interest of all. None shall be
/ disposed of without he cons snt,, of all
concerned. Chauncy Nj. Depew and
Henry IL. Anderson are constituted
administrators of the will. Depew saws
the family are we'll pleased With the dis
position OF the property and there will
be no contest of the will.
At l2.25 to-day, ex-Judge Rapells,
followed BY Depew, Cornelius Van
! derbIlt, w. X. Vanderbilt. Fred
erIck Ward and George Vandc.-
bit entered the surrogate's Office
and Immediately appeared before Pro-
! bate Clerk Beckett for the purpose of
filing the will. The document saws
4, VIM. II. Vanderbilt, of the city of
| New York, do make and publish nv
last will and testament as foloss:
Flrst-I devise unto my beloved wife,
! Maria Louisa for and during her natural
life, the dwelling house in which
L now reside and lot on which
| 1t stands and after describing the
| property, the will continues: Il also
! give and devise to nv said wife, for and
| during her natural life, the three lots of
land on the nOrtheaSterly corner of
Madison Avenue and Fifty-second
Street. in the City of New York, together
with the stables and improvements
| thereon. L also give and Dequeath to
her, for and during her natural
life, all the paintings, pictures, statu-
airy and works of art which
/ [ may own at the time of my decease,
| except the portrait and marble bust of
my father, which [ have bequeathed TO
my son Cornelius. l also give and be-
queath to her, for and during her
natural life, all furniture of every de-
scription, including the plste, silver,
library ornament, musical instruments
and other articles OF household uso,
which may, at the time of my death
De i'll or appertaining to my present re-
sidencesi and also the horses, carriages
or vehicles, harness, stable furnitn re
and implements which | may have on
hand at the time of NY decease and
usually keep IL my said stables on Madi-
son Avenue and Fifgy-second Street:
and empower my wife, during her
life, to exchange or dispose of any
OF my said household furniture
and other cEattelS, except the pic
lures, stationary and works OF art.
| also give aud bequeath 10 my said
wife an annuity OF 100000 per annum
during her natural life, TO be com-
pieted from the date of my
deGeaSe, and paid her in equal
quarter yearly payments thereafter;
and L direct that sum sufficient &c
produce such annuity be SCI apart. an
ut all times safely invested. bY nay
executors, fCr that purpose during the
me Of my vie. And empower her to
dispose of By WI, $500, 900 OF the princi.
pal of the same, so dire ted TO
be set apart, III any manner she
may desire, and which shall be
legal. All taxes, assessments and
charges which may be imposed on tie
real estate devised TO my wife for life.
shall be payable BY her during de
same period, and | declare that the
foregoing devises and bequeaths to her
are TO he IL lieu OF DOVER
The seco6d TO the sixth clauses are
devoted TO the tOur married daughters
OF decea<e who are given re-
spectveiy the houses they now occupy,
Or in course OF construction, aud the |
lands upon which they are built. The |
Will goes on 20 say, In the seventh |
clause: 81 give and bequeath ~ tie !
trustees, hereafter 3 ppoiated, S25 .eoo. 00p !
of Hhe bonds OF the United States of !
America, searing interest," az the rate OF |
per cent. per 8nnun. the principal |
falling due in 1897; 50 000, $50 q seeopd !
mortgage bonds Of the Lake Shore d |
Michigan Southern Railway Company, /
due in l. SOB, bearing interest at the rat |
OF per cent. per anuum.
The claus es Of he all then includes |
other securities to rha amount 81 so, /
0G0, 600 70 dividein eight equal parts, 10 /
be held in tPast for his eight children, |
trustees are, TO collect the income o( I
each OF these trust funds and turn tAe |
same over to the bene6tiries. None Of |
the fund can be siienated or transferred |
during the lifetime of the child entitled /
to the income The principal, however,
can be Tiled away by the beneficiary at |
death, provided they have lawful issue. |
If any daughters die without Issue, the 1
amount goes to the remaining daugh-
tiers. II any sons die without leaving |
lawful issue, the portions go TO 'he sons /
still living. Ia equal portions. The
eighth clause allows the trustees 10 ptIf-
chase other prescribed securities when
the others mature. =
The ninth cause divides between his |
eight children 5 Coz, 600 for their free
dispositions. The fourteenth clause also
provides that. IN case OF the death or |
George. without issue. the Homestead I
sbsli revert to William II. Vanderbilt,
II = son of Cornelius, the purpose being /
r., keer, the residencein the family. He /
a so gives TO his grandson William H..
81 .OO0. 600. 70 be paid 10 him -yiaen tie i
81 wears old and the interest 10 20 70
him in he meantime. In the event d !
tie death OF William a.. the nextto fall
heir Is Cornelius. bro her OF the later 1
Sectors Is. 10. II. Il and IS pTssxisle /
for nnn,tities of frem 81 COO to =. 600 to /
ysrious distant relatives. The twentieth I
r'ause beaueaths $200. 600 10 the Van
derbilt University at Nashville, Tenn !
THE w nty-frst clause beqaeHths the /
4. to ar 81