The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1891-02-28
The Fayerweather Wealth
Largely Devoted to Edu-
cational Purposes.
Residuary Legatees Divide the Funds
According to the Testa-
tors Wishes
Other Fortunes and Claims That
Are Determined or
Pending

NEW YORK, Feb. 27.-The most i'm
portant feature In the contest over the
millions OF the phlanthropic leather
merchant, Daniel B. Fayerweather, was
developed during the hearing before
Surrogate Ransom. The fact was
brought out that Tuesday Executors
Bulkloy, Ritch aud Vaughan executed a
deed Of gift" disposing OF the residuary
estate-yalued at over 80, 600, ,O00-which
was left 10 them absolutely under the
last codicl and which has been the great
bone OF contention. They give this vast
residuaTy estate 20 hospitals and col
leges, some OF which are legatees under
the will and others arc not, and also In
crease large number OF the bequests
named In the will. Although the execu-
tors don't say so In so many words, this
Is evidently carrying out the wishes
which MIR. Fayerweather had expressed
To them prior to his death.
Another step taken was the with
drawal OF the objections 10 the probate
of the will executed Oct. q, 1884, and
decree was signed admitting IL 10 pro-
bate providing that letters testamentary
may be issued 10 the executors The
cor test now proceeds over the four codi
ellis, but In reality only over the first and
fourth, which make the executors the
residuaTy legatees. So much has been
said about the injustice of these eKecu-
tors getting this vast residuary estate
that the Importance OF this deed OF
gift' made by them, is readily under
stood. Prompted by a determination
not To retian any part OF the reslduaTy
estate and by desire To make such dis
position of IL as will best honor Mr.,
Fayerweather's memory they dispose OF
what shall remain after paying all law
ful fees, expenses, and charges, which
Will be a small fortune, as follows.
They reserve the power TO make and 10
assent 10 any enlargement Of the $4,000 a
year left TO Mrs. Fayerwe lther under the
Will. To Mrs. Lucy J. Beardsley, wife OF
Morris b. Beardsley, 500. 900 Is given. Then
follows a number OF small annitles to
various people. A bequest OF sl0O,0oC Is
maae to the Northwestern University at
Evanston. III Eight or ten hospitals and
dispensarits 10 New York and Brooklyn are
remembered with amounts varying from
$4,000 TO $4,000. Then follows this clause
IA the deed of aft:
After payment In full as above we give
10 Unl1n college, schenectady, 500 600,
Have ford college, Montgomery county PA.
$50 900; the University OF the City OF New
York, sI00 900: the University OF Pennsyl
vania, $4,000; Brown university, Provi-
dence. $4,000; Harvard college. Cam bridge,
Mass. sl00. 900; Wesleyan university, Mid
dletown, Conn. s50,e00 IN addition 10 the
800. 900 given by the VIII; Princeton college,
Si00. 900; Rutgers college, New Brunswick,
n. j., Si00, 600: Wells college, Aurora, $50
0O0 Elmira Female college, $50, 600: -.
Bernard school for Women in the city Of
New York 100000; the Cooper union,
for the advancement OF science and
art as a permanent fund, the income
20 be used 20 far necessary for the sup
port OF The Women's Art school, $500. 600 ,
-. Luke school, Farlbault, MINI. SIS, 900;
Lafayette college, EastOn, Pa, $50, 0OG in
addition to The $50, 900 given by the Will
Mary willie college, $50 600 in addition T. the
si00, 900 given by the Will Trinity college,
Hartford, Conn, $4,000; Wabash college,
$50. 600 i'm addition a. the $4,000 gwen by
the will: Marietta college. $50, 900 la addi
tion 10 the $50. 900 given by the will
To Yale college. at New Haven, sl50.000
Is given, without interest, In addition 90 the
s300. 600 given by the will a. be used la the
erection OF a Fayerwcather building, or, II
that Is impracticanle. the fund to be used
for the general urpOses OF the college,