Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1893-01-05
! WILLS OF RICH MEN.
HOW SEVERAL WEALTHY MEN DIS.
POSED OF THEIR ESTATES.

his brother and sister call attention anew
to the fact 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.
The wills of the heads of the Astor
family do not point moral in this re-
spect. because the family has followed a
rule designed for the perpetuation of a
great family estate in two parcels. Side
bequests, If considerable. would have
prevented the execution of this plan
The distribution of the late Samuel j.
Tilden's fortune is not illustrative of the
common custom, because he was a bach
elor.
A. T. Stewart. the great merchant
prince. made a simple will. In the sec
ond paragraph of the document opened
after his death in 1875 he wrote simply.
''All my property and estate of every
kind and description and wherever sit
uated give, devise and bequeath to my
dear wife. Cornelia M. Stewart, her
heirs and assigns forever" In the next
paragraph he appointed Henry Hilton to
manage, close and wind up Ills partner
ship business and affairs He made en-
Judge Hilton, the widow and William
Libbey his executors, and he bequeathed
to Mr.. Hilton the sum of $l,000,0O0 las
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 bust.
ness, and other sums Of $1,000 to $500 to
seven household servants. To two sis.
ters named Marion, at whose fathers
house and hands he had enjoyed hospital
ity, he gave$12, 900 year and house in
this city. To Henry Hilton's wife he
gave $1,000. In second codicil he gave
$4,000 each to four persons of the name
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 81 900,
and all who had worked for him ten
years $500. A letter to his wife accom-
panied the will, and in that he said that
he hoped to live to carry out his charita-
BILE schemes, but if he died before doing
so he would depend on her to do so with
the advice 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, if
it is true. as many claimants assert. that
he had a number of cousins and other
kin in Ireland. his absolute forgetfulness
of them or refusal to benefit them is re-
markably opposite.
Commodore Vanderbilt, who died in
January. 1877, made many bequests to
others than his children. TO his wife he
gave $500, 900 and all the contents of his
house in Washington place. the use of
which was hers for life. To his brother.
Jacob Fl. Vanderbilt, he gave $4,000.
To his sister Phoebe he gave 81 200 a year
during her life. To his nieces and neph-
ews he gave various, sums. ranging
from $4,000 and $4,000 down to $500
and $500 year. But he gave one grand
4 nephew $25, 900 and another $20, 900. His
doctor got $4,000. and faithful old
clerk got 100000. To an uncle he gave
$1,000, and the wife of Ii nephew re-
ceived $25. 900.
When he came to consider his children
the situation was altered. To William
e., his eldest son, he handed down the
bulk of his magnificent property. the
value Of this gift being estimated at $00.,
100000. The whole property had been
considered as worth $105, 900, 900. and OF
the $15 900 that William H. did not
get one-half went to Williams sons. the
Oldest one, Cornelius, getting greatly the
largest share He seemed thus to indi-
cate belief that young Cornelius. who
had already shown ability as II financier.
would become the head Of the house in
the third generation.
To his own less worthy son Cornelius
he gave merely the interest on $500, 900.
He divided 81 .250, 900 equally among five
daughters, and two of these he further
enriched, the one with the interest on
100000 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 competency.
When it came time to open the will of
William H. Vanderbilt it was found that
he had given to nephew. w. V. Kissam
$4,000; to his uncle Jacob the dividends
on 1000 shares of New York Central; to
his aunt Phoebe and to each of twelve
other relatives annuities Of $1,000 The
great bulk of the increased estate went
to the children. There were eight of
them, and each got $5.000.00 outright.
together with the interest during life
on another $5000.000, the eighth part of
trust fund of $40,000,G00. The prin-
cipal in this legacy was to go to his
grandchildren when his children died
To his eldest son, Cornelius, he gave an
additional So ,000,000 outright. and to his
favorite grandson. William H., the son
of Cornelius, he gave 81 900. 900 outright
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 VI
100000 and the right to give away
$500, 900 howsoever or to whomsoever she
pleased. To each of his four daughters
he gave the house in which she was liv-
ing when he died. Having thus disposed
of only about half of this great property,
which was said to be sufficient to give
four dollars to every man, woman and
child in the country. Mr.. Vanderbilt gave
the rest to his first and second sons, Cor
nelius and William X. or about $50, ,000,-
900 each. New York Sun.
A Misunderstanding.
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