The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-12-08
JAY GOULD'S WILL!
All His Vast Wealth Goes to His
Children.
NOT A SINGLE PUBLIC BEQUEsT.
The Children Are Made Executors-A Special
Bequest is Made in Favor of
His Son George

New York, Dec. An abstract Of the
win and codicils OF the late Jay Gould is
given 10 the press by Judge Dillon,
counsel for the executors, who stated that
it is full and complete. Also that it was
not determined when or where it will be
presented for probate The original will
is dated Dec. "a, 1885. Mr.. Gould, On the
14th day Of February, 1889, executed the
first codicil, making such changes IS be-
came necessary by the death of his wife.
The second and third codicil was executed
on the 21st of November, 1892. Taking
the viii and ccdicils together the following
is an accurate and full summary
To his sister. Mrs. Northrope and
daughters. three lots in Camden, N. j., on
which they live; also bequest to Mrs
Northrope Of s25. 900 and further sum Of
$1,000 annually during her life.
A similar bequest Of $25, 600 and an an
nifty of 81, GOO is made each TO his sisters,
Mrs. Anna G. Hough and Mrs. Elizabeth
Palen, aud to bis brother, Abraham Gould.
To his daughter Helen M. Gould, he
gives in fee simple and absolute the house
IN which he lived, $40 Fifth avenue and all
the contents therein
TO his son Edwin he gives in fee simple
and absolute house No. ] on East Forty
seventh street with all its contents therein.
To his daughter Helen he made specific
bequest OF his portrait painted by Hsrk-
omer. He also gives 20 his daughter Helen
until the youngest child shall arrive at age
the use OF his residence at Irvington COM
monty called 'Lindhurst" free of taxes,
and all contents there in; and also the sum
Of Sc, 900 per month. Stating that this is
done in the expectation that the minor
children, Anna and Frank j. as well as his
n ffa I'D hfN-~
provided for, make their home with Helen.
To his namesake and grandson Jay
Gould, son of George J. Gould, he gives
the sum OF $500 600 10 be held in trust for
said son by George ]. Gould, with author
ity to apply the same to the support and
education of said grandson, and pay one
fourth OF the same TO him at the age OF
twenty-five, one-fourth at the age Of thirty
and the remainder one-half at thirty
five, with power TO pay the same
at earlier periods il the discretion of his
father. To his son George j. Gould, he
makes bequest substantially in the fol-
lowing words: my beloved son George
J. Gould having developed remarkable
business ability, and having for the past
i've years, taken entire charge OF all my
difficult interests, | hereby fix the value of
his services at 100000 payable as fol-
lows: Five hundred thousand dollars in
cash, less the amount advanced by me for
the purchase Of q house for him on Fifth
avenue, New York; $500 600 in Missouri
Pacific per cent. mortgage honda; $780,
000 in St. Louis, Iron Mountain & Southern
Railway company consolidated 8 per cent.
bonds; $500 600 in Missouri Pacific railroad
trusts 5 per cent. bonds; 10000 shares in
Manhattan railroad stock; 10000 shares in
Western Union stock and 10000 shares in
Missouri Pacific STOCK, all to be taken and
treated as worth par.
He appoints as executors and trustees of
the viii his sons George ]. Gould, Edwin
Gould, and Howard Gould, with provisions
in case a vacancy shall happen by death, or
otherwise, Frank j. Gould to be executor
and trustee when he shall reach the age of
twenty-one years, and in case of another
vacancy he appoints his daughter Anna
Gould to such vacancy when she shall
reach the age Of twenty-one years. No
bonds are to be required of The executors
and trustees. George j. Gould and Helen
M. Gould are appointed guardians of Anna
II. Gould and Frank J. Gould during their
minority.
All the rest Of the estate is devised and
baeueathed to 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 cash. Each |
OF said children George j. Gould, Edwin |
Gould. Howard Could Frank j. Gould |
Helen M. Gould and Anna Gould is vested |
with authority 10 collect and receive 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 |
at death without issue the share Of the one |
dying is TO 60 TO the surviving brothers |
and sisters and to the issue Of |
such deceased child, share and share per
stlrpis anc rot per capita He also directs |
that no deductions shall be made bv reason |
OF any gifts nor Announcements heretofore |
MADE to or for any OF the children.
In case of differences of orininn arnonp |
the executors and trustees as TO managing |
the estate, be directs that as long as there
are five executors and trustees decision Of |
four shall be conclusive; and when four, |
decision of three shall be conclusive; with |
further provision Ia g codlciI dated Nov. /
u, 1892, as follows: ITO better protect |
and conserve the values OF my properties. |
direct and provide that shares in any rail- |
way or other Incorporated companies, ct
any time held by my executors and trust !
ees shall always be voted by them or by
proxies, at all corporate meetings as unit |
Ana in case my said executors and trustees |
do not concur as 10 how such stock shall |
be voted, then in view Of the fact that my |
son George ]. Gould, who for years has |
had the management OF my eaid properties |
aud Is familiar with them, and with |
other ike properties, l direct and provide !
thai il such event his Judgment shall con- |
troll, and he is hereby authorized and en-
powered TO vote SAID shares in person or |
b. proxy in such manner as his Judgment |
shall dictate.n
There is e provision in the win that the |
property of his daughters is for their sole |
aud separate use, free from any estate con
troll Of their husbands, and prohibiting ali |
dispositions for charges by any legal, or by |
way OF anticipation or otherwise. There !
is provision that if any OF the children |
shall marry without the consent OF q ma
1oritv Of the executors and trustees, then
the share allotted TO such child shall be re-
onced one-h half, and the other bali Of such |
share shall be transferred TO such persons
as under the laws OF the state of New York
would take the same il testator had died |
interstate.