St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-08
Abstract Of the Will and
Codicils Of the Dead
Millionaire.
His Brothers and Sisters
Remembered in the In
Strument.
His Son George, for His Past
Services, Is Given
$5,OOO,000.
All the Rest Of His Estate
Divided Equally Among
His Children.

New YORK, Dec. 1.-THE following
abstract of the will and codicils of the
late jay Gould is given to the public, as
given by Judge Dillon, the counsel for
the executors, who stated that it was
full and complete, also that it had not
been determined when or where the
will would be presented for probate.
The original will is dated Dec. "a, 1885,
during the lifetime of his wife, Helen
d. Gould. 1t made various provisions
for her benefit, which failed of effect by
reason of her death before the death of
her husband, ana, in consequence of
her death, Mr.. Gould, on Feb. 16, 1889,
executed the first codicil of the will,
making such changes as became neces-
sary by the death Of his wife. A second
and third codicil to his will were eX-
ecuted on Nov. 81, 1892. Taking the
will and codicils together, the following
is an accurate and full summary of
the schemes and provisions thereof:
There are given to his sister. Mrs.
Northrop, and her daughters, the three
lots OF ground in Camden, n. j., on
which his sister lives. There is also
A Specific Request
to Mrs. Northrop of $4,000. and the
further sum Of $1,000 annually TO be
paid to her during her life in equal
quarterly payments, To his sisters
Mrs. Anna G. Hough and Mrs. EIiz-
Rbeth Palen, and to his brother, Abram
Gould, there is given the sum of $25, 900
each, and also the further sum of $1,000
annually during their lives, payable in
equal quarterly payments. TO his
daughter Helen NJ. Gould he gives in
fee simple absolute the house in
which he lived, No. SO Fifth
avenue, and all of the furniture, books.
paintings statuay, silver plate and
household contents therein To his son
Edwin he gives in fee simple absolute
:he house at l East FOrty-Seventh
street, with all the furniture and house
hold contents therein. To his daughter
Helen lie made Il specific bequeSt of his
portrait painted by Herkomer. He also
gives to his daughter Helen, until MS
youngest child shall arrive at age, the
use of his residence at lrvington, COM
mOnly called "LindhurSt," free of taxes,
and all of the furniture, books, paint
ings and household, contents therein;
and also the sum of $4,000 per month; !;
stating that this was done in the eXpec-
tatiop that, u,a
His Minor Children.
Ann and Frank j., as we'll as his son
Howard, will, during the period pro-
Yided 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 100000, 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 grandson, and to pay One-fOurth
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
discretion off his father. To his son
George j. Gould, he makes be0ueStS
substantially in the following words:
'My beloved son, George j. Gould,
having developed a remarkable business
ability, and having for years devoted
eimself 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 $5,000,000, pay
able as follows: Five hundred thousand
dollars III cash, less
The Amount Advanced
by me for the purchase of a house for
him on Fifth avenue, New York city !;
S5OO.000 III Missouri Pacific per cent
mortgage bonds, 100000 in ST. Louis,
Iron Mountain d Southern Railway
company consolidated per cent bonds,
S500,0O0 in Missouri Pacific railway
trusts per cent 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 estate his sons. George j. Gould,
Edwin Gould and Howard Gould. and
his daughter, Helen NJ. Gould, with a
provision that in case vacancy shall
happen by death or otherwise, his son
Frank j. Gould is TO be an executor and
trustee when he shall have reached the
age Of tWenty-one years, and in case of
another vacancy he appoints his daugh-
Ter Anna Gould TO ill such vacancy
when she shall have reached the age of
tWenty-One years; no bonds to be re-
quired of the executors and trustees.
George j. Gould and Helen M. Gould
are appointed guardians of Anna NJ.
Could and Frank Gould dnring their
minority.
Placed in Trust.
All the rest OF his estate is devised
and bequeathed to 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 his said children. George j.
Gould, Edwin Gould, Howard Gould,
Frank j. Gould, Helen M. Gould and
Anna Gould, with authority to collect
and receive pay and apply the income
thereof to each child for life; with power
to each to dispose 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 their issue
share and share, per stripes,
and not per capita. He directs
that these trusts shall be kept
separate and distinct, and that the ac-
counts thereof shall be separately kept;
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 in
VeStments in managing the estate. he
directs that as long as there shall be
five executors and trustees, the decision
OF four shall be conclusive, and when
four that the decision of three shall be
conclusive, with a further provision in
the codicil of Nov. q, 1892, as follows
Georges Judgment to Govern.
"The better to protect and conserve
the values of my properties, it is my de
sire, and | so direct and provide, thai
tie shares OF any railway or other i'll