The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-08
Provision Made BY Will for the Dead Wizards
Sisters and Brother and $500, 900 Placed
In Trust for His Grandson Jay.
Five Million Dollars Given 10 His Son
George for Past Business Services.
Remainder of the Estate Divided Equally
Among the Children. Who Must Not Marry
Against the Trustees Wishea

Will anu ooulclle OF the late y ay Gouio was
given to the press tonight by Judge Dill
Ion. counsel for the executors, who stated
that 1T was full and complete. and also that
it had not yet been determined when or
whore the will would be presented for pro-
bate. The original will is dated Dec. "a.
1885, during the lifetime of his wife. Helen
u. Gould. 1t made various provisions for
her benefit. which failed of effect by reason
of her death before the death of her hus-
band. After and in consequence of her
death Mr.. Gould. on the 10th day of Feb
ruary. 1859, executed the first codicil TO
his will. making such changes as became
ond and third codioll to his will were
executed on the 2lst Of November. 1892.
Taking the will and codicils together. the
following is full and accurate summary
of tho scheme and provisions thereof:
In the specific leGacies there is given to
his sister. Mrs. Northrop. and her daugn.
N. j.. on which his sister lives There 10
also Q specific request to Mrs. Northrop Of
5000. and tho further sum OF 81, 600 an
nually, TO be paid to her during her life in
Siaa. Sra ANN. 1;K 6. Koash and Mrs EiissSssh s
Palen, and to his brother. Abraham Gould.
there is given the sum of $4,000 each. and
also tho further sum Of s.. 600 annually dur
ing their lives. payable IN equal quarterly
Gould, he gives in fee simple absolute the
house in which he lived, No. 579 Fifth ave.
nue., and ell OF the furniture. books paint
ings. statuary, SILVER plate and household
gives in fee simple absolute the house No.
/ East Forty-seventh street with all
the furniture and household contents sheres
In To his daughter Helen he made
. specific bequest of his portrait painted by
Herksmer. He also gives TO his daughter
Helen. until his youngess child shall ar
rive of age, the use Of his residence At
lrvington, commonly called "Lyndhurst"
free of taxes. and all the furniture. books.
and also the sum of So 600 per month-stat-
ing that this 10 done In tho expectation
that his minor children, Anna and Prank
j., as well as his son Howard, will, durina
the period above provided for. make their
homo with his daughter Helen. To hia
namesake and grandson, Jay Gould, son of
George j. Gould. he gives $780, TO ba
held In trust for the said grandson by
George j. Gould, with authority TO apply
the said grandson 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 re-
naming half at thirty-five. with power to
pay the Same at earlier periods in the dis
GEORGE GETS THE LIONS SHARE.
To his son George j. Gould he makes q
bequest Substantially in the following
words:
My beloved son George j. Gould, having de-
veloped a Tt marKable business ability, and av-
ing for twelve years devoted himself entir ely to
my business and during the past five years taken
entire charge of all difficult interests, here
by fix the value Of his services at $4,000, 900,
payable as follows. Five hundred thousand dol
lars in cash, less the amount advanced by me for
the purchase OF a house for him on Fifth avenue,
percent. mortgage bonds, $500. 900 in st. Louis,
Iron Mountain & Southern Railway Company
consolidated tive-per-cent. bonds. $5O0,O00 In
bonds. 10000 shares Of Manhattan railway
stock, 10000 shares OF Western Union stock and
10000 shares OF Missouri Pacific stock, all to be
taken and treated as worth par.
He appoints as executors and trustees of
his will his sons George j. Gould, Edwin
Gould and Howard Gould, and his dsugh-
ter Helen M. Gould, with q provision that
In case q vacancy shall happen by
geasn Gould SI to b. ' an son executor
and trustee when he shall have reached
the age of twenty-one years. and in case OF
another vacancy he appoints his daughter
Anna Gould to fill such vacancy when she
twcnty-one years. No bonds are
to be required of the executors and trus-
tees. George j. Gould and Helen NJ. Gould
are appointed guardians of Anna NJ. Gould
and Frank j. Gould during their minority.
All the rest of his estate Is devised and be-
Queathed 70 the said executors and trustees
In trust: First to divide the same into
six equal parts or shares and to hold and
invest one Of such shares for each Of bis
Gould, Howard Gould, Frank, j. Gould.
Helen M. Gould and Anna Gould.
with authority TO collect and receive
pay and apply the income thereof 20 each
.l.fl l.x. ~ n 1tor
of the same by will in favor of issue. and,
in case of death without issue, the share Of
the one so dying to GO TO the surviving
brothers and sisters and to the Issue OF any
deceased child, share and share alike per
stripes, and not per capita. He directs
that these trusts shall be kept separate and
distinct, and that the accounts thereof
shall be separately kept so that no deduc-
tions shall be made by reason OF any gifts
or advancements heretofore made TO or for
any of his children.
In case of differences of opinion among
the executors and trustees as to holding
and retaining securities or investments In
managing the estate, he directs that so
long as there shall DO five executors and
trustees the decision of four shall be con-
elusive. and, when four. that the decision
of three shall be conclusive. with o further
provision In the codicil Of Nov. 81, 1892 40
follows:
The better to protect and conserve the values
of my properties, il is my desire, and so direct
and provide. that the shares of any railway or
other incorporated companies at any time held
by my executors and trustees. or my said trus-
tees. shall always be voted by them or by their
proxies, at all corporate meetings, as unit; and
in case my said executors and trustees, or my
said trustees, do not concur 10 how such
stock shall be voted. then. in view OF the fact
that my son. George j. Gould. has for years had
the management OF my properties. and IL famil.
lar with them and with other like properties.
direct and provide that IN such event his Jndg-
ment shall control ana he is hereby authorized
and empowered 10 vote the said shares In person
or by proxy. in such manner as his Judgment
shall dictate.
There is the usual provisions in the will
that the property OF his daughters is for
their sole and separate use, tree from any
estate or control of their husbands. and
prohibiting all dispositions for charges by
any of the legatees by way OF anticipation
or otherwise. There is provision that X
any Of HE children shall marry without
the consent of q majority of tho executors
and trustees. then the share allotted TO such
child shall be reduced one-hslf. and the
other half of such share shall be trans
ferred to such person, under the laws OF
the State of New York. as would take the
same If the testator had died intestate.