The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-21
BANKER DRExEL'S WILL.
TT DIsP0sES OF an ESTATE REPORT
Ep 10 BE WORTH sso,ooo,ooo.

100000 to the German Hospital In Phn.-
s.iphia-si 100000 for Art-sI.oooyooo
Apiece TO Six OBSERVATION-DISCLOSURES
for Carrying on the Ranking Busines.
and for Acquiring Mr.. Chiid.'s Interest
In the Pubiie Ledger mt Hts Death-asauy
I,eencies TO Servants and Employees.
PHILADELPHIA. July 20.-The will Of the late
Anthony J. Drexel was probated this morning.
According to arrangement made at the re-
quest OF John G. Bullitt. counsel for the family,
the witnesses to the will assembled at the
Drexel banking house. where they were met
nv Deputy Register OF Wills Charles Irwin,
Who brought the will from the City Hail.
Within half an hour the proofs and certi0ca-
lions we're made and the testament formally
probated. Petitions for the probate stated
that Anthony J. Drexel died June 80. 1893, at
Carlsbad. and that the valuation OF the per-
sonal estate was S1.000.O0o and OF the real
estate 81. 600, 900. Under the law OF Pennsyl-
yania, when the estate exceeds these figures it
ia not imperative that the excess should be
stated.
The estate Is generally believed to be worth
$50. 900. 600. and it will be seen by the docu-
ment itself that fully So, 100000 10 directly dis
posed Of
Tho executors named in tho main instru-
Drexel. Anthony J. Dre1el. Jr. George W. c.
Drexel the two sons law. John r. Sell and
James W. Paul. Jr.: his lifelong friend. George
W. Childs. and Richard Q. Dale. who drafted
the will
In q second codicil Mr.. Drexel also named
John Lowber WEIGH as co-executor and trus-
tea The witnesses to the will proper were
Richard @. Dale. Frank 7. Rogers, william
Henry Newbold. and Arthur E Newbold. The
will is dated Dec. 81. 1891. and there are five
codicils.
The executors arc empowered to make such
arrangements for the continuation OF the bank
ting business conducted In the name OF Drexel
4 Co. and Its associate firms. as In their judg-
ment may seem wise and expedient They are
also authorized to advance to any one or more
OF the sons or sons-in-law Of the decedent
sum not exceeding 90 per cent OF the amount
OF the share of such son or the wife OF such
son-in-law. to be contributed as capital to,
arm which may be formed to continue the
One Hundred thousand dollars is hequeathed
30 the German Hospital Of Philadelphia.
$1,000. GO to trustees. who will apply the in.
como toward the erection and main1enance OF
the OF the pex
tute Of Art, Science. and industry In this city
provided the latter building shall be made
much Of the income as cannot be judiciously
expended for the aforesaid purposes to the
eSt6UllsuLucaS VI tho bASAoA hopptoA Al
An annuity Of $1,000 is beaueathed to
hold servants who have been in the EN-
ploy OF the family for five years prior to Mr..
Jerks Il w snS stSn and
Go. will receive 500 for each year they have
0s TSree ' miion dollars is directed to be in
LIVINGSTON Biddle. and Craig Biidle. grand
Mir. Droxel's one-third Interest in the Drexel
end anthony ]. BreSeI third: A' -AA' -''
The will then directs that the residue Of tho
u.ors.. The lattor viii hold the net income In
tIu5t for the surveying children IL and the issue
B ns
surviving child. or last surviving .erandebiid.
estate sSsii be divided among TIE issue then a
Upon the death Of George. ". Childs the .ex-
eeu!ors shall pay to his lawful Representatives
Snder Mr. ckildss name. the sum T provided IN
the Ire The
Mr. Childs's estate to vest the title In tho
fund Tor i tie estabishment 81 the public insti.
tuition or hospital receive power TO appro-
come shall be inadequate for the full develop
ment OF tho work.
Five hundred thousand dollars are be-
cueathed to James w. Paul. Jr. and So. 0OO.-
600 is directed to be set apart for the benefit Of
Ellen Paul Anthony Drexel Paul. md Mary
hstor Paul, grandchildren. who shaii not share
In the residue OF the estate.
One million dollars may be advanced to
James ". Paul. Jr.. father Of the latter chill
which may be formed to continue the business
Of DreXel 4 Co.. and which sum will be
charged against the $4,000. 600 fund.
In the event Of the death OF George W. c.
DreXri without leaving issue. the executors
GOO.
Fifty thousand dollars can be paid each ex-
ecutor for his services.