Savannah morning news. [volume] (Savannah) 1868-1887, 1885-12-13
VANDERBILT'S MILLIONS.
now THE GREAT ESTATE is DI.
VIDED BY THE WILL.


100000.
NEW YORK, Dec. 12.-At 1925 O'clock
,o.dav ex-Judge Rapallo, followed by
cbauncev NJ. Depew, Cornelius Wander
bnt. william X. Vanderbilt, Frederick w.
and George Vanderbilt in the order
named, entered the surrOgate's Office and
Immediately appeared before the Probate
clerk. Charles Beckett, for the purpose OF
sng the will of William FL. Vanderbilt.
Nv the will be bequeaths to his wife,
Maria Louisa, for and during her natural
life the dwelling house in which he re-
sided and the lot on which 1t stands. He
aIso gives and devises to said wife for and
during her natural life three lots Of land
on the northeasterly corner of Madison
avenue and Fifty-sec0nd street, in the
citv of New York, together
with the stables and implements thereon
erected, and for and during her natural
lie all the paintings, pictures, statuary
and works of art which he owned at the
time of his decease. except a portrait and
marble bust of his father, bequeathed to
his son Cornelius.
THE HOUSEHOLD FURNITURE.
He also gives and bequeaths to her for
and during her natural life all the furni-
tire of every description, including.
Mate, silver, library ornaments, musical
Instruments, and other articles OF house.
hold use which appeItained TO his resi-
denoe at the corner of Fifth avenue and
Fifty-frst street, and all the horses, car
riages, vehicles, harness, stable furniture,
and implements in the stables on Madi-
son avenue and Fifty-second street. He
...~ou,o,1 bor dt1rfaO hnr life tn aXnhan0Q
or DISPOSE of any of the household furni-
ture and other chattels except the pic
tures, statuary, and works of art. He
also beQueatbs to his wife an annuity of
100000 per annum during her natural
life. to be paid quarterly. He directs
hat sum sufficient to produce such an
nuty lie set apart and at all times be
safety invested by his executors for that
purpose during the life OF his wife.
He empowers her to dispose by will
oi$500,00 of the principal of the same so
directed be set apart in any manner
she may describe, and which shall be
legal. All taxes, assessments and
charges, which may be imposed on the
real estates devised to her for life shall
be payable by her during the same period.
TIE foregoing devises and requests are to
be in lieu # dover.
To his daughters, Margaret Louisa, wife
Of Elliott +, Sheppard, Emily Thorn, wife
OF William sloane. Florence Adele, wife
OF Hamilton Mex. TwOmbly, and Eliza
O., wife Of William S. Webb, he leaves
houses on Fifth avenue.
MILLIONS FOR HIS SONS.
To the trustees hereinafter mentioned
be gives and bequeaths $25, 000,0 900 ofbonds
Of the United States of America, bearing
interest at the rate of per cent per an
mum, the principal falling due in the year
1897; $1,000, 600 second mortgage bonds of
the Lake Shore and Michigan Southern
Railway company, due in the year 1908,
bearing interest at the rate of Z per cent.
per annum; $500, 900 first mortgage bonds
Of the last named company due in the
year 1900, bearing interest at per cent.
4 per annum, $4,000, 900 of the sinking fund
bonds Of the Chicago and Northwestern
Railway Company, due in the year 1920,
bearing interest at 6 per cent. per annum;
100000 of the sinking fund bonds of the
4 last named company. due in the year 1929,
with interest at per cent. per annum;
100000 of the general consolidated sink
ing fund bonds of the last named company,
due in the year 1915, bearing interest at
d per cent. per annum; $4.000000 of mort
gage bonds of the New York Central Rail-
& road Company, due in the year 1908,
4 bearing interest at 7 per cent. per
q annum, and $1,000,000 of the mortgage
bonds Of the New York and Harlem Rail-
road Company, due in the year 1900,
bearing interest at the rate OF 7 per cent.
per annum, making in the aggregate
q SiOOO0000, of the above named securities
AZ par in trust to divide the same into
eight equal parcels of So, 600, 600 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 said parcels in trust
9r each OF his four sOns-Cornelius,
" lillian r., Frederick w. and George Nj.
'anderbilt, and one of said parcels In
rust for each of his four daughters be-
lore named, to collect and receive the in
come Of each Of said eight trust funds, and
pay the same over as 1t accrues and is
colected to the beneficiary for whom it is
set apart during the natural life OF sueh
beneficiary, and he directs that no pay
ilent be made IN anticipation OF such In
come, and that no part OF the principal OF
either Of said trust funds be paid over or
suenated or transferred during the life
lme OF the child entitled 70 the income
hereof.
IN CASE OF DEATH.
de also directs how the funds shall be
divided upon the death of each of his
alldren. He authorizes the trustees of
ald several trust funds TO receive and re-
vest the proceeds Of the bonds so given
mem in trust as they mature, and also
tnelr discretion TO change from time to
me The investments Of said trust funds,
ny directs that they at all times keep
Ia principal Of said several trusts re-
pecuYely in bonds Of the United States Of
RMerica, or OF the State or city Of New
ofk, or in mortgage bonds of the New
0fk Central and Hudson River Railroad
npany, New York and Harlem Rail-
9ad Company, Lake Shore aud Michigan
lthern Railroad Company, Chicago and
otthwestern Railway Company, or
ouus guaranteed by 1t or some one or
DOIe oil said specified securities.
CHANGING THE INVESTMENTS
lney may change such Investments
oll Time TO time, and may also invest in
Jus and mortgages of unincumbered
al estate in the State OF New York. and
80 apply TO reinvestments OF the princi-
al OF said trust funds or either OF them,
ny securities Of the classes above speci-
which he had on hand at the time Of
ueeease az their market value at the
e OF such application. That all
ourltes In which such trust funds
al from time 10 time be invest
pc taken and held by said
.s.ees in the names as trustees
tne parties respectively for whose
el beld so.
4at eacn Of said eight trust funds shall
sept separate and distinct from the
leIs' and the accounts thereof shall be
talateiy kept. He gives and bequeaths