New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-21
A. j. DREXEL'S REQUESTS
THE INCOME OF 81 100000 FOR AN Am
GALLERY OR MUSEUM.
THE PHILADELPHIA GERMAN HOSPITAL GErs
sIoo, cOo-EsrIMATED VALUE OF THE ESTATE

THE PHILADELPHIA GERMAN HOSPITAL GErs
sIoo coo-EsrIMATED VALUE OF THE ESTATE
FROM s25 0Oo,COO TO s3o,coo.c0o.
PHILADELPHIA, July 20.-rhc last will ana testament
NJ Anthony J. Drcxel was admitted to PROBATE TO-DAY
The executors who also the trustees. are Georra
". Childs. John Lowber Welsh. Richard c. Dale. his
sons John II. Drcxel, Anthony J. Drcxcl ana Ceorfs
w. (h,lds Drcxel and his sonsinlaw, James W. PAM
ir and John r. Fell. The petition flied by the OK.
ccutors places the value Of the real estate over
81 100000. and the personal estate over $1,000.
coo The estimated value OF the estate Is between
sc5 GOO 900 and s300CO0o0. The will Il dated
pcccmber 81, 1901. and there are five codcils. The
executors are empowered to make such arrangements
for the continuation Of the banking business con.
ducted in the name Of Drexel Co., and its associate
firms ms IN their judgment may seem wise and OF,
pedIent They are also authorized TO advance to any
one or moro OF the SONS or sonsnlaw OF Mr.. Drcxel
a sum not exceeding 80 per cent Of the amount Of
the share OF such son or the wife OF such soninlaw.
to be contributed capital to firm which may
be formed to continue the banking business.
To the German Hospital Of Philadelphia 100000
T. heoucotbed The executors directed to trans
for Al 600 900 to trustees. who will apply the income
toward the erection and maintenance Of Al art gallery
museum or other public institution In the ncighbor
hood OF the Drexcl Institute OF Art Science and In
dus,ry I'm this city, provided the Inter building shall
10 iundplultP
much OF the inccmc cannot be iudiciousy cx-
ncnded for the aforesaid purposes to the establish
n,ent OF the Drexc; Hospital In this city. An
annuity of $1,000 Is beQueathet 10 Miss
Elizabeth G.. stanley. friend. Household servants
who have been In the employ Of the family for fve
years prior TO Mr. Drexers death Will receive II 900
each and clerks OF Drexel Co., and DreAel Morgan
A. Co VIII receive 800 for each year they have
been I'm the service II Is directed that 900 900 10 IN
for no hons nj Anthony d. Biddle. Living
s,on Biddlc and Craig Biddle, grandchildren. Mr.
rrexel's onp-thrd interest in the Drexel Building
M Broad and Wall ss. New York. Is devised In trust
to Anthony d. Paul, Mae Fell, and Anthony J.
Drexel, Cd.
The will then directs that the residue OF the estate
shall be held and invested BY the executors The lat
ter will hold the net in trust for the surviving
children and the issue OF those dead, other than the
daughter Emily Biddc The trustees shall retain posses
sion OF the estate during the lifetime OF the last srviv.
ing child or last surviving grandchld and for twenty
one years thereafter At the termination OF the trusts
the pr.ncIpal OF the estate shall be divided among
the issue then living.
Tpon the death Of George W. Chllds III" executors
shall pay to bis lawful representatives for his interest
I'm "Tbc Public Ledger owned controlled by the
partnership conducted under Mr. Chld's name,
the sum provided In the partnership agreement The
executors can do whatever be necessary TO settle
with Mr. Childs's estate 10 vest the title In The
Ledger
In the codicils power is given TO the trustees OF
the II 600 OOo fund for the establishment OF the pub
lie Institution hospital to appropriate all or part
of the income 10 the support OF the Drexel institute
II the laters income shall be inadequate for the fuu
development OF the work. James w Paul; lr" Is 10
receive $5OOo 600 and 900 Is directed TO De set
apart for the benefit OF Ellen Paul Anthony Drexei
Paul and Mary Aston Paul, grandchildren, Who shall
not share in the residue Of the estate one million
dollars may be advanced to James W. Paul. ~: laher
OF the latter children, TO be contributed as capital 10
firm which may be formed TO continue the pushess
OF Drexel & Co., and this sum Will be chargea
against the $1,000 600 fund In case OF the death OF
George W. {. Drexel without leaving issue the eA'
ecutors shall pay to his wife. Mary Trick Drexel,
500 900 Each executor can receive 100000 for
his services.