Freeland tribune. (Freeland, Pa.) 1888-1921, 1892-12-15
JAY GOULD'S ESTATE.
THE MILLIONAIRE DIVIDED 1T BE-
TWEEN HIS SIX CHILDREN.

the Consent of n Majority of the Others
His Her Estate.
NEW YORK, Dec 12.-The following alb
stract of the will and codicls of the late Jay
Gould was given out by Judge Dillon, the
counsel for the executors, who stated that
it was full and complete, and also that it
had not yet been determined when or where
the will would be presented for probate:
First-The specific legacies. There is
given to his sister, Mrs Northrop, and her
daughters the three lots of ground in Cam
den, n. j., on which his sister lives. There
is also specific bequest to Mrs. Northrop
of sos, ,000 and the further sum of $1,000 to
be paid to her annually during her life in
equal quarterly payments. To his sisters,
Mrs. Anna G. Hough and Mrs. Elizabeth
Palen and to his brother, Abraham Could
there is given the sum of $3.50 each, and
also the further sum of s., 600 annually dur
ing their lives, payable in quarterly pay
ments.
To his daughter Helen NJ. Gould he
gives in fee simple absolute the house in
which he lived, SO Fifth avenue, and all of
the furniture, books, paintings, statuary,
silverplate and household contents therein.
To his son Edwin he gives in fee simple
absolute the house l East Forty-seventh
street, with all the furniture and house
hold contents therein. To his daughter
Helen he made a specific bequest of his por-
trait painted by Harkomer
He also gives to his daughter Helen, until
his youngest child shall arrive at age, the
use of his residence at Irvington, common
ly called Lyndhurst (free of taXes), and of
all of the furniture, books, paintings and
household contents therein, and also the
sum of $4,000 per month, stating that this
was done in the expectation that his minor
children, Anna and Frank j.. as well as his
son Howard, will, during the period above
provided for, make their home with his
daughter Helen.
Young Jay Gould's s5OO,OOO.
To his namesake and grandson, Jay
Gould, son of George j. Gould, he gives the
sum of $500, 600, to be held in trust for the
said grandson by George j. Could with
authority to apply the same to the support
and education of 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 remaining half at thirty-five, with
power to pay the same at earlier periods in
the discretion of his father. To his son
George j. Gould he makes a bequest sub
stantially in the following words
My beloved son, George j. Gould, having de-
veloped a remarkable business ability and hav
ing for twelve years devoted himself entir
to my business, and during the past five ye.
taken entire charge of all my difficult interests,
hereby fix the value of his services at S50OD,-
600, payable as follows: Five hundred thousand
dollars in cash, less the amount advanced by
me for the purchase of a house for him on Fifth
avenue, New York city; S5O0O0) in Missouri
Pacific 8 per cent. mortgage bonds 500, 1000 in
st. Louis, Iron Mountain and Southern Rail.
way company consolidated per cent. bonds;
S5O0,0OO in Missouri Pacific railway trust 5 per
cent bonds 10 600 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 daugh-
ter Helen NJ. Gould.
Devised in Trust.
All the rest of his estate is devised and
bequeathed to the said executors and trus-
tees in trust-frst to divide the same into
six equivalent 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 NJ. 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 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 ac-
counts thereof shall be separately kept;
that no deductions shall be made by rea-
son of any gifts or advancemeuts hereto.
fore made to or for any one of his children
In the codicil of Nov. 81, 1892, he says:
The better to protect and conserve the values
Of my properties it 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 an unit,
and in case my said executors and trustees or
my said trustees do not concur as to 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 said properties and
is familiar with them and with other like prop
critics, direct and provide that In such event
his judgment shall control, and he is hereby au.
thOrized and empowered to vote the said shares
in person or by proxy in such manner as his
judgment shall dictate.
There is the usual provision in the will
that the property of his daughters is for
their sole and separate use, free from any
estate or control of their husbands, aud
prohibiting all dispositions or charges by
any of the legatees by way of anticipation
or otherwise. There is a provision that if
any of his children shall marry without
the consent of a majority of the executors
and trustees then the share allotted to
such child shall be reduced one-half, and
the other half of such share shall be trans
ferred to such persons as under the laws of
the state of New York would take the same
If the testator had died intestate
Gould Left ST2, 900, 900.