The Portland daily press., 1885-12-14
BIG DIVIDE

BIG DIVIDE.
The Will of VIM. n. Vanderbilt Pro-
bated.
How Fortune of 1000, 900 is
Divided.
The Family Entirely Satisfied with
the viii.
Several PrinceIy Bequests to Public
Charities.
NEW YORK, Dec. 12.-Cornelius, William X,
Frederick w. and George Vanderbilt, the four
executors of the will of the late William II. Van
derbilt, also acting for Mrs. w. H. Vanderbilt, ae-
companied by Chauncey NJ. Depew and Henry H.
Anderson attorneys for the petitioners, arrived
at the Surrogates Office at the new court house, at
precisely 1920 p. m. today with the Will OF the
dead Crgsus and, going before the probate clerk,
petitioned to have it filed and recorded. After
few moments necessary legal formalities and
otdtCnltIlUS ny Lue dIIOIucyS tHC oOHo IulOuy
and unostentatiously, as they had arrived.
moment later the Office was besieged by crowd
of reporters after the contents. Mr.. Chauncey M.
Depew gave the document to the reporters. In
speaking Of the will he said all the heirs consd-
cred it very just disposition of the property and
are entirely satisfied. Mr.. Depew said: $50 far
as the stocks of the Vanderbilt railroad and sys-
ten so called are concerned, there is an under
standing. The family will act together and in con-
cert in holding and administering the stock, and
no disposition of said stocks will be made by any
individual without the consent of all, so that the
family will act rs unit in all transactions, sales,
transfers disposas Of any of the stocks belong
ing to the railroads going to make up what is
known as the Vanderbilt SYSTEM
The following is a complete abstract of the doc
ument:
l, William H. Vanderbilt of the city of New
York, do make and publish my last will and testa-
ment as follows, viz:
REQUESTS TO HIS WIFE.
First.-I devise unto my beloved wife, Maria
Lonsa, for and during her natural life, the dwell
which it stands. After describing the property
the will continues: | also give and devise to my
said wife for and during her natural life three lots
of land on the n0rtheastery corner of Madison
avenue and SID street, in the city of New York,
together with the stables and implements thereon
erected / also give and bequeath to her for and
during her natural life all the paintings pictures,
statuary and works of art which may own at the
time of my. decease, except the portrait and
marble bust of my father, which have bequeath-
ed to my son Cornelius. also give and bequeath
to her for and during he; natural life all the furni
ture of every description, including plate, silver
library, ornaments, musical instruments and
other articles of household use which may at the
time of my decease be in or appurtenant to my
present residence on the corner of Fifth avenue
and 51st street, and also all the horses, carriages
vehicles, harness, stable, furniture and imple-
ments which may have on hand at the time of
dApnaSn and nSuallV kent in said stables
on Madison avenue and SD street, and en-
power my wife during her life to exchange or dis
pose of any of my said household furniture and
other chattels except the pictures, statuary and
works of art, and Of any Of said horses carriages
and stable furniture to such extent as she shall
deem necessary from time to time to renew or re
place the same. | also give and bequeath to my
said wife an annuity of $2000oo per annqm dur
ing her natural life, to be computed from the date
of my deeease and paid to her in equal quarter
yearly payments thereafter; and 1 direct that a
sum sufficient to produce such annuity be set
apart and at all times safely invested by my exec
ltors for that purpose dnring the life OF my wife,
and empower her to dispose by will of 100000
of the principal of the same so directed TO be set
apart in any manner she may desire and which
shall be legal. All taxes assessments and charges
which may be imposed on the real estate devised
to my wife for life shall be payable by her during
the same period; and declare that the foregoing
deyiseS and bequests to her are to be IN lieu OF
dover.
THE CHILDREN's SHARES.
Second-I devise unto my daughter Margaret
Louise, wife of E. F. Shepard Esquire, her heirs
and assigns forever the house in which she now
resides and the lot on which it stands. which lot
the will then describes at SD street and 9th
avenue.
wife of William Sloane, her heirs and assigns the
middle one of the three houses erected by me on
the Westerly side Of 5th avenue between 5lst
street and SD streets and the lot on which it
now stands.
Fourth devise unto my daughter, Florence
Adele, wife of Hamilton NICK. Twombly, her heirs
and assigns forever the lot of land on the south
west corner of 9th avenue and 54th streets, III
said city, and part OF the lot in the rear thereof
fronting on 54th street. together with the dwell
ing house erected on said premises and all my
right title and interest in and on the street and
avenue bounding said premises.
Fifth devise unto my daughter Eliza o., wife
of William S. Webb, her heirs and assigns forever,
the lot of land on the westerly side OF 9th avenue,
next adjoining on the south corner lot described
in the next preceding fourth clause OF this Will,
and also the remaining part of said rear lot 'front.'
ing ON 54th street.
Sixth-Should the dwelling houses now being
erected for my daughters, Florence Adele
and Eliza o. upon the two lots of land devised to
them not be finished at the time Of my decease,
direct that they be completed as soon as practi-
cable thereafter at the expense of my estate.
hereeafer aps6oned s2S 600 W Of bonds Of the
United States of America bearing interest at the
rate of four per cent. per annum, the principal
falling due in the year 1907 100000 Of second
mortgage bonds of the Lake Shore & Michigan
Southern Railroad Company due in the year 1908,
bearing d interest M at t1e rate OF seven per p cent
named company due in the year 1900, bearing in
terest at the rate of seven per cent per annum;
S2,000,000 of the sinking fund bonds of the Chi
cago s. Northwestern Railroad Company due in
the year 1929, bearing interest at the rate OF six
per cent; 81 100000 of the sinking fund five per
cent. bonds Of the last named company; $2,00O,-
900 of the general consolidated sinking fund z
per cent. bonds of the last named company; $4,-
100000 of mortgage per cent. bonds Of the New
of per cent mortgage bonds of the New York
and Harlem road making In the aggregate S4o.-
nNf nhn nnnhC y
trust to divide the same into eight equal parcels
of SIS, 100000 each, and each OF said parcels TO
contain an equal amount of each OF the above
specified kinds of bonds to set apart and hold one
Of the said parcels in trust for each OF my 1ouf
sons, Cornelius, William X, Frederick W. and
George w. Vanderbilt, and one of said parcels in
trust for each of my four daughters hereinbefore
named and to collect and receive the income of
each of said eight trust funds, and pay the same
over as it accrues and is collected to the benefi-
ciary for whom it is set apart during the natural
life of such beneficiary and direct that no pay,
that no part Of the principal of either of said
trust funds paid over or alienated or transfer
red during the lifetime of the child entitled to the
income thereof; and upon the, death OF each OF
my said children direct that the principal OF the
fund SO set apart and held in trust for hm or her
or proportions as he or she may by their last will
have directed or appointed; and in default of such
testamentary direction direct that snch fund be
divided between his or her lawful issue in the pro-
portions in which they would be by law entitled
thereto had my child 50 dying died possessed
either of my sons should leave no lawful issue
him surviving l direct that the fund so held in
trust for him be divided among his brothers. him
surviving, and the issue of any OF his brothers
who may have died before him, such issue to take
the share which the brother so dying would have
taken If living, and should either of my said
daughters leave no lawful issue her surviving
direct that the fund so held in trust for her be
divided among her sisters living at the time OF her
death or should any of her sisters have died be-
fore her leaving issue such issue shall take the
share which such deceased sister would have
taken if living.
Eighth-Directs how the trust funds shall be
nveSted-they must be in government and State
bonas and mortgage bonds of roads in which he
was interested.
Ninth-Bequeaths to his four sons and four
daughters, to be divided equally, S10,OOO,o0O In
U. S. bonds bearing per cent interest ana due
in 1909 and $4,000, 900 in railroad bonds, most
ly bearing Z per cent interest
Tenth-Transfers 4 200 shares Of the preferred
stock Of the Chicago & Northwestern railroad to
each of the three daughters-Margaret Louisa,
Emily Thorn and Florence Adele
Eleventh-Directs that his daughters eliza
0.'s) bonds and stocks shall not be delivered to
her till she is 80 years of age.
Twelfth direct that the interest aud dividends
on the several bonds and stocks bequeathed in
the seventh and ninth clauses of this WILL be ap-
portioned up to the date of my decease, and that
so much thereof as shall have accrued after that
date shall belong to the legatees.
thirteenth bequeath unto my son, Cornelius
Vanderbilt the sum of $2,000.000, in addition to
all other bequests to him in this will contained.
THE WIDOWS PROPERTY AFTER DEATH.