The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-24
GREAT MILLIoNAIREs' WILLS.
In America the Bulk OF Zach Estate
Has Gone to the Rich Mans Children.
IL L..

mas zone TO the Rich Mans Children.
From the Nst1 York Sun.
The small requests by Jay Gould to hi,
brother and sister call attention anew to the
feet that the financial results Of the creation
OF fortune In family are apt to be small
TO the collateral branches and heavy to the
| direct line OF issue. This is not surprising.
IL is natural that men should bequeath their
fortunes TO their own children, both as a
consequence OF affection and as a
means OF founding g family and per
petuating an estate. It is said that
other causes operate TO make this rule
more marked than it would otherwise be,
IL is declared by some observers that poor
brothers OF rich men are apt TO be envious,
and TO make their envy apparent TO the
fortunate brother. The poor sisters of such
man are quite likely to marry humbly
ana TO get degree Of assistance dnrinR life
which renders heavy bequest less iu-
cumbent upon the rich brother than il he
bad not provided frequently and more or
less literally for the women beforehand.
The wills Of the heads of the Aston
family do not point moral in this respect,
because that family has followed rule de-
signed for the perpetuation Of a great
family estate In two parcels. Side be-
quests, IL considerable would have prevented
the execution OF this plan. The distribution
OF the late Samuel J. Tilden's fortune ia
not illustrative of the common custom. be-
cause he was a bachelor.
A. Il. Stewart, the great merchant
prince, made simple will. In the sec
ond paragraph OF the document opened
after his death in 1876. he wrote Simply:
IAN my property and estate of every kind
and description, aud wherever situated,
give, devise and beg usath TO MY dear wife.
Cornella NJ. Stewart, her heirs and assigns
forever In the next paragraph he APP
pointed Henry Hilton to manage, close and
wind up his partnership business and affairs.
de made ex-Judge Hilton, the widow and
William Ltbbey his executors, and he be-
queathed to Mr.. Hilton the sum of 81 900. :
coo las q mark Of regard"
In codicil to the will he bequeathed
various sums Of from $4,000 to $500 to as
many faithful employees in his business and
other sums Of So, 500 to $500 to seven house
hold servants. To two sisters, named Mar
ron, at whose fathers house and hands he
had enjoyed hospitality, he gave $4,000 a
year and house in this city. To Henry
Rilton's wife he gave $1,000. In a second
codicil he gave 0000 each to four persons
OF the naine Of Clinch who were relatives
OF his wife, to two of whom he gave house
IN town; and TO Sarah Smith and her
daughter he gave $4,000 each. He willed
that all persons who had remained in his
employ during twenty years should have
SASOOOs oI0 ulA WIZ udU WOEA0u LOE Nm Ten
years $500. A letter to his wife accom-.
panied the will, ana IN that he said that he
hoped to live TO carry out his charitable
schemes, but IL he died before doing SO he
would depend on her TO do so with the adj
vice and assistance OF their friend, Henry
Hilton
Mr.. Stewart had no children. If he had
no relatives either. his will is not a case in
point. But, on the other hand. II it is true.
claimants thuh h. b,|
Der OF cousins aud other kin in Ireland, his
absolute forgstfulness OF them or refusal TO
benefit them is remarkably opposite. The
lawyers who have defended his estate against
assault produced testimony that he ALWAYS
said he had no relative In tae world, and
doubtless this was the case.
Jay Gould left 60 his sisters, Anna G
Hough and Mrs. Elizabeth Palen, and to his
brother. Abraham, each S25 900 and sep
arats income of 80 900 8 year. To his sister.
Mrs. Northrup aud her children, he gave
three lots in Camden in addition to the
S25 600 and the go 900 year additional
income. II he had other kin of further re-.
move he does not mention them in his will
The instrument showed his devotion to his
children and his desire to keep his estate in
the direct line of family descent, for he
gave it into the hands bis children as ex-
ecutors. There are six OF these children
and each got an equal share of the fortune,
after certain extra legacie5 were taken from
it. His daughter Helen got the city and
country homes and their valuable contents.
dis eldest son, George j., got a present Of
5000, 900 in addition to his sixth. His son
Edwin got house In town, and half a
million was set aside for grandson.
Commodore Vanderbilt, who died in Jan
uary, 1877, made many requests to others
than his children. To his wife he gave half
million dollars and all the contents of his
house at Washington place, the use of which
was hers for life. To bis brother. JACOB d.
Vanderbilt, he gave $4,000. To bis sister
Fhoebe. he gave 81 200 a year during her
life. To his nieces and nephews he gave
various sums. ranging from S20,O and
$4,000 down to $500 and $500 year. But
he gave one grand nephew S25, 600 and
another $50 600. His doctor got $4,000,
and faithful old clerk got $4,000 To an
uncle be gave 5000, aud the wife Of q
nephew received &25, 900.
When he came TO consider his children
the situation was altered. To William H. ,
his eldest son. he handed down the bulk of
his magnificent property, the value of this
gift being estimated at 500, 000,O The
whole property had been considered as
worth SlO5,000.000. and Of the s15. 900, 900
that William Il. did not get. one-half went
TO Williams sons, the oldest one Cornelius,
getting greatly the largest share. He
Cornelius, who had already shown ability
as q tiuencier, would become the head of
the house in the third generation
To his own less worthy son Cornelius be
gave merely the interest on 100000, He
divided Sl,250000 equally among five
daughters, aud two of these he further
enriched, the one with the interest on
$500, 000 and the other with the interest on
100000. Enriched is scarcely the term to
use, for it was evident that he intended only
to insure to each of them the comforts OF a
competency.
When IL came time to open the will OF
William H. Vanderbilt it was found that
he had given to a nephew, w. V. Nissan
$50 600; to his uncle Jacob the dividends on
1000 shares of New York Central; to his
aunt Phoebe and to each of twelve other rels-
tives annuities Of $1,000. The great bulk
of the increased estate went to the children.
There were eight Of them, and each got
IS 100000 outright, together with the inter
est. during life, on another $1,000, 900, the
eighth part of trust fund of
$4,000 600. The principal in this leg
acy was 10 go to his grandchildren when
his children died. To his eldest son, Corne-
Illus, he gave an additional $4,000, 900 out
right, and to his grandson, William II. the
SOD Of Cornelius, he gave 81 10000 out
right. The youngest son, George, was to
have the family mansion and works of art
when his mother should die. To his own
widow he left yearly allowance of 5000,
a