New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-05-30
CHARLES PRATT'S WILL.
HIS WIDOW TO RECEIVE $4,000 YEAR.
TOTAL GIFTS TO THE INSTITUTE ARE s2,5oo.ooo
"A TRUST FORMED FOR THE CHILDREN.

TOTAL GIFTS TO THE INSTITUTE ARE s2,5Oo.ooo
"A TRUST FORMED FOR THE CHILDREN.
The will OF Charles Pratt the millionaire oil manu-
tactrer and founder Pratt Institute, devising an
estate estimated by himself shortly before his deat u
amount TO between $1o,000,000 and S20,0OoOoo' was
filed for probate yesterday in the Office Of surrogate
Abbott in Brooklyn. The Pratt Institute Is hbeiuiN
provided for and the lest OF tine estate goes 10 INC
widow and children. Mrs. Pratt gets the houSe a,'U
$4,000 year. 50 long AS she Is "luo"' " ',
eight children get equal shares tied UP Ill u" -
the death of the oldest grandchildren l"o
pal provisions are as follows:
l. Charles Pratt. the city OF broo ~ s u, mind
memory ana understanding, DO leeoy isHe; ,1f AZ
and declare this 20 be my last VIII "''N
first direct that my funeral expenses anu y, 'e nv
lust debts be paid out Oh my eS'"'0 -
aecease as practicable oa, unto my wife, Mary III.
Pratt AN wearing appaIci ana householu cr,1,es
nsSni and ornamental watches, JeweS' Pd ali
books plate, horses, anS r1ags FURNITURE. TOOLS
aDnliances fuel provisions ana sVores, tna nm,
bsioug 10 me be subject 10 ms a''p'''' "'
my also give and devise unto aHd s situate in
Mary H. Pratt the %Sg OF tR soo dU Aforesaid
SSjcH now reside, together Win ~, ,ne land which
improvement; r tesGa ns for 50 long during the life Of
~ I'D wife as she shall remain unilai heaan ali Of
eli water rates ana and Assessments direct my
%c hereinafter named TO pay Out OF nremses
so long as my sse Of this provision Of my will te
Fourth also give and pequea,ur hall remain I'M
for Ong anr annuity Of $4,000 year 70 pc
maid 10 her by my executors sn the date of my
equal Ie Tits and provisions heren6efoHe r and
for my wife are given her 70 a lieu Of and bar Of any
claim of dover ana all MONEYS nom Snail turn into
on my lie, all of which direct Sic '"'''
my give and bequeath to Sns Of them the
after named do Or So the give the d 70 them Ia az
ther own absolute property In law rSsnect Of The
aoOOuntsbty, to ANY the thereof leaving TO them to
a. What they Shall deem right IN reein Il he appro
confidence hoTevsr r SsS t in sccordsncc with memo
Eassed az win be fOdnd in my books .re IL 70
fUpos' ana Dy +, the persons and institutions iOr
~ fund is intended, anu Wiz" hooS srainst this
Mln S 1p amoEnt hereby bequeated TO my pat the
Decreased that extent; With Charles Pratt
Pncgaal t sa ine Tsms' nsod as Of
sixth devise Pratt institute, yS IN fee the
the sta'e ,d in Rycrson-st brooklyn eHVehu anS
Through TO ma the SGGinss situated thereon
De h Or i'm process of erection known as r heeto
tute' and all the personal PTcp Fad Pratt institute ard
it scessors in fee the lots IN anann known as
point with the tSn ot in Vander6il-ave Brooklyn
LIZ IN buiidings thereon erected kno"I contem.
InwCod' and also ye e esate to the institute in my
P PAM in which case the above devise Will oo III
Ope TreYs have given in ny od et Ren TO % s be
Pratt institute fund OF SsooOOoTi o hnoks of the
arIn Of Charles Pratt Co. II o sIS b o the
son should prove not 10 DC Mg s nr - much thereof
sara % not have been Appropriated for the peehI d
the Institute during my lifetime Gvsn nniS az an in
yrstncSt in the sad firm of Charles traL ID hat
long as it safe ana ahVsaPc 10 Of snid in
s sit Ps"-'' , o. ,n,s institute shall develop
I'D G tSai III endowment fund shall be increased 70
meet the growing demands OF rs WORE. ntrnct,mS
liz budincs the expenses Of said institute VIII TV
exceed $4,000 per wear above inc T ddnd IN Tho
ndnwnenf fund so that the expenses 81 the ns'tuue
may he increased by INCREASED WORN AT ue ray oi,
o. 600 vear until tle available annual income -
Exhausted or until the institute has reached lc i i
Of the available work, and TINS TI1Iu' AZ any 0''O
also desire that if Frederic B. Pratt; snail aad
continue the recognzod head o. 1e Of the
institute encouragement fGr MN 70 M n u e
said work his salary sa DC 90 loST a. the income Of
the institute shall equal exceed SoooOo per ycaI
The sae b rS e expende IN purchasing the real estate
here!nbere 10 devised ana IN erec n o anu
ing buildings thereon in excess OF S0oooOo'
The rest OF the estate bequeathed to the executors
as trustees 10 hold and divide in eight equal shares,
and to invest and receive the Income from 1t during
the lives of Morris Pratt and Mary Richardson BAD
bott the eldest children of the teStaors eldest CHI
dren and TO apply the income to the use OF the egh
children Charles NJ. Pratt Lydia K. Babbott Fred
eric b.. Helen F.. George D., Herbert L., John T. ana
Harold Irving Pratt so that those under fifteen years
Old shall have 81 900 year. TO be increased at the
rate $3.50 year until they are twenty ana tIien
thew are twenty-five; then at the rate
OF $500 up thirty years, then al 900 year up 10
forty wears thereafter the rate Of $1,000 a year
during the continuance of the trust the capt OF ea S
share 10 be used In making the payments 10 the
beneficiary when the income is insufficient ., 81,
tho tesiaer are IL receive the payment for their
spectve ages and the Increases to be the same aS
bI se s % ~ their f '1 and no ssu
the Income shall 60 TO the other children. Inc pay,
SEPARATE use, free from control and ntsrferenee Of
husbands Upon the death Of Morris Pratt ana Mgy
Of each share shall be paid over TO each OF The children
The executors arc directed retain control of any
stock o. the standard oil Trust and the investments
On the m Of Charles Pa E ana Of 70 tbe prnpe
except that the real estate devised to Mrs Pratt IS not
property is TO be retained home for the family
iong as any Of the children willing to occupy IT
tees are authorized to lease 1t to such of the children
as they prefer free Of rent and TO pay 70 me lessee
$4,000 annually to defray taxes and Keep the prop
cry The vile Mary H. Pratt is made an executrix and
trustee. and the sons, Charles NJ and FIede1ck b.
pratt are to be executors and trustees, with any other
Of the testator, while any of the sons may be made
executors and trustees when they arrive at the age
Of e III Is dateS April IG 1850 and the
Witnesses are John ID. Archibald and john d. Rookie
teller The citations returnabe OIL Tuesday and
the will will be probated at that time as no contest Is
anticipated. IL. -, -
vision in his fathers will setting apart $500 900
for distribution by the executors and trustees was
designed TO avad difficulty requests TO charitable
institutions If death occurred within thirty days after
The will was drawn. The money would 90 to institu
tions like the Of Charities, the Chlldrens Aid
Society etc, TO which Mr. Pratt was In the habit of
Contributing The executors would follow the wishes
NJ Mr. Pratt in distributing the gifts. one OF these
&c for a school at Glen Cove l.. l., which Mr.. Pratt