Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1892-12-08
NEWS By TELEGRAPH.
From All Quarters.
JAY GOULD'S TESTAMENT
Distribution of the Great
Properties.
PROCEEDINGS OF The Two HOUSES.
Seeking a Solution to the
Silver Question.
600 TElEGRAPHERS WILL STRIKE.
Trials Of the Presbyterian
Professors.
600 TELEGRAPHERs WILL STRIKE.
JAY GOULD,S WILL.

IN WV AD>S
Provisions of the SkflfuI FInancieI
For the Division of His Vast Ac.
umuIatfons-Miss Helen is Given
the Fifth Avenue Residence and
Appointments-valu OF Sons
Services.
NEW YORK, Dec. 1.-THE following alb
stract of the will and codicils of the will Of
the late Jay Gould is given to Judge Dill,
Ion, counsel for the executors, who stated
that it was full and complete.
The original will is dated December "a,
1885, during the lifetime of his wife, Helen
D. Gould. It made various provisions fol-
her benefit, which failed of effect by rea.
son of her death before the death of her
husband. After, and in consequence of,
her death Mr.. Gould, on the 10Th day of
February, 1889, executed the first codicil
of his will, making such changes as became
necessary by the death Of his wife. A Sec
ond and third codicil to his will were ex-
ecuted on the 21st of November, 1892
Taking the will and codicils together,
the following is an accurate and full sum-
mary of the scheme and provisions
thereof:
First-The specific Iegacies.
There is given to his sister Mrs. North
rop and her daughters the three lots of
ground in Camden, N. j., on which his
sister lives. There is also specific bequest
to Mrs. Northrop of $25, 1000 and the fur
Their sum of $4,000 annually to be paid to
ments. To his sisters Mrs. Anna g..
Dough and Mrs. Elizabeth Palen and to his
brother Abraham Gould there is given the
sum of $25. 900 each, and also the further
sum of $4,000 annually during their lives,
payable in equal quarterly payments. To
his daughter Helen M. Gould he gives the
house in which he lived, $40 Fifth avenue,
and all the furniture, books, paintings,
statuary, silver plate and household con-
tents therein.
To his son Edwin he gives the house No.
1 East Forty-seventh street, with all the
furniture and household contents therein.
To his daughter Helen he made a specific
bequest of his portrait painted by Herke-
mer. He also gives to his daughter Helen,
until his youngest child shall arrive at age,
the use of his residence at Irvington, COM
monty called "Lyndhurst," free of taxes,
and of all the furniture, books, paintings
and household contents therein, and also
the sum of Sc, 900 a NOTWITHSTANDING that
this was done in the expectation that his
minor children, Anna and Frank J., as
we'll as bis son Howard, will, during the
period above provided for, make their
home with his daughter Helen. To his
namesake and grandson, Jay Gould, son
Of George J. Gould, he gives the sum of
$500, 900, to be held in trust for the
said grandson by George J. Gould, with
authority to apply the same to the
support and education of the said grand
son and to pay one fourth of the same to
him at the age of twenty five, one-fourth
at the age of thirty and the remaining
half at thirty-6ve, with power to pay the
same at earlier periods in the discretion of
his father.
To his son, George J. Gould, he makes
bequest substantially in the following
words:
s'My beloved son George J. Gould hay
ing developed a remarkable business abil-
ity and having for twelve years devoted
himself entirely to my business and during
the past five years taken entire charge of
all my difficult interests. hereby fix the
value of his services at Sc. OO0, 900, payable
as follows: $4,000 in cash, less the
amount advanced by me for the purchase
of house for him on Fifth avenue, New
York city; $500. 900 in Missouri Pacific
per cent. mortgage bonds; $500, 1000 in St.
Louis, Iron Mountain and Southern Rail.
way company consolidated 5 per cent
| bonds; $500, 900 in Missouri Pacific rail
way trust 5 per cent bonds; 10, 1000 shares
of Manhattan railway stock; 10000 shares
of Western Union stock, and 10, 900 shares
| of Missouri Pacific stock-all to be taken
| and treated worth par"
He appoints as executors and trustees Of
his will his sons, George J. Gould, Edwin
| Gould and Howard Gould, and his daugh
| ter, Helen N. Gould, with a provision tina
| in case q vacancy shall happen by death OF
| otherwise his son Frank J. Gould is to BIZ
| an executor when he shall have reached
| the age of twenty one years, and in CAGE o.
another vacancy he appoints his daughter
Anna Gould to fill such vacancy when sh,
shall have reached the age of twenty on,
years-no bonds to be required of the ex
| ecutors aud trustees.
are appointed guardians of Anna NJ. Goult
and Frank J. Gould during their minor
ity.
| All the rest of his estate is devised ant
bequeathed to tbs said executors ant
trustees in trust, first, to divide the sam,
into six equal parts or shares, and to hole
and invest one of such shares for each o
his said children, George J. Gould, Edwin
Gould, Howard Gould, Frank J. Gould
Helen M. Gould, and Anna Gould, will
authority to collect and receive, pay ant
apply the income thereof to each child TO
life; with power to each to dispose of tn
same by will in favor of issue, and in cas-
of death without issue the share of the on
go dying to go to the surviving brother
and sisters and to the issue of any decease
child, share and share alike, per stripe
and not per capita. He declares that thes
shall he kept separate and distinct, an
that the accounts thereof shall be separate
! ly kept; that no deduction shall be mad
by reason of any gifts or advancement
heretofore made to or for any of his chile
rem.
In case of differences of opinion anon
the executors and trustees as to holdin
; and retaining securities or investments
! managing the estate, he directs that so Ion
as there shall be five executors and t1u
, tees the decision of four shall be concll
sive, and when four that the decision
three shall be conclusive; with furth.
provision in the codicil of November Q
: 1892, as follows:
"The better to protect and conserve IL
y values of my property, it Is my desire, an
Q I 80 direct amp provide, that the shares
o any railway or other incorporated cor
panies at any time held by n
executors and trustees or my ga
= trustees, shall always be voted |
them or by their proxies,
. | all corporate meetings, as unit; and
case my said executors and trustees or n
said trustees do not concur as to how su,
= stock shall be voted, then. in view of Il
fact that my son George J. Gould has
years had the management of my ga
properties and is familiar with them al
with other like properties, direct al
provide that in such event his judgme
q shall control, and he is hereby authoriz
Q. and empowered to vote the said shares
9. person or by proxy in such manner as !
y. Judgment shall dictate"
4. There are the usual provisions in t
It. will that the property of his daughters
IN for their sole and separate use, free frt
any estate or control of their husban,
and prohibiting all dispositions for char,
by any of the legatees by way of anti
patton or otherwise. There is provisi
that if any of his children shall ma,
. without the consent of majority of [
: executors and trustees, then the al,
allotted to such child shall be reduced O.
half. and the other half of such sh
shall be transferred to such persons
- tupdar the lava of tho stata of Man VI