The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-02-24
/. VANDHRBHHK'S Will.
Son, Son-in-Law, Nephew
and Grandson Named
as Executors.
To FORM A NEW PARTNERSHIP
The Large Estate Divided Among
Members of the Family
Nothing to Charity.

The will of Isaac l. Vanderbeek, late
President of the Proyident Institute for
Savings. was filed with Surrogate O'Neii
yesterday by Counsellor William A.
Lewis. The will was executed on Janu-
airy 26, $685. and was witnessed by DR.. A.
A. Lutkins and William A. Lewis. It
names as executors and trustees, Francis
I. Vanderbeek. son; William e. Pier
son, son-ln-Iaw; Isaac p. Vanderbeek,
nephew, and Frank l. Vanderbeek. Jr.,
a grandson, without bonds.
The large fortune of the deceased is dis
tributed entirely among members of is
family, and not single bequest for
charitable purposes is mention ed in the
will.
After providing for funeral expenses
and the payment of all just debts, the
will stipulates that the executors shall at
once make a complete inventory of the
estate, real and personal, and tnen goes
on TO say that the testator desires. my
son Francis l. Vanderpeek, my son-in-
law William E. Pierson, my nephew
Isaac +. Vanderbeek to form q CO.
partnership to last at least five years."
for the purpose of continuing the box
manufacturing and lumber business of
| testator. the estate is to rent TO
the new firm ali the property
and machinery required at rental OF
nve per cent. per annum OF the appraised
value OF the property, the firm TO paw all
taxes. and Water rents aud keep the
property in good repair. The estate
shall not be liable for any debts OF the
| firm. The will sets apart $4,000 special
capital to be used in the business of the
| firm, and for the use OF this money In.
| terest must be naid to Fran els l. Wander
| beck, Stewart Vaucerbeek, a son of Isaac
| z. Vanderbeek, Frank Pierson and Frank
/. Vanderoeek, Jr., share and share
| alike AL the termination of the partner
ship the $50000 must be paid back to the
executors and become part of the resi-
| duary estate. The will continuRs:-
Il bequeath my real estate i'll block "a
| (Morgan. Steuben and Green streels) .
one-tnird part to my son Francis l. Van-
| derbeek to have and to hold forever"
| TWO NFPHEWS CARED FOR.
| The executors, as trustees, are to hold
| in trust for Frank Pierson, Isaac Wander
| beck Pierson, children OF Iestator's de-
| ceased daughter, equal one-third parts of
| the property on block "a. AT the termi-
| nation of the partnership the trustees
| shall pay TO Frank Pierson and Isaac
1 Vanderbeek Pierson each an equal share
| of the one-third interest held in trust,
making them thereby il full partnership
The deceased left to a nephew, Isaac p.
| Vanderbeek, the remaining one-third to
hold absolutely. The executors are di-
recJed to lease to the firm tho stable and
twelve lots on Nom gomery street aud az
many more Meadow lots on the opposite
| side of the street as the firm may require.
After expressing desire that the CO.
partnership shall not terminate before
| the expiration of ten years, the will states
that when the partnership shall cease,
"I bequeath to the four mem
bers equal proportions" of the Mont
i gomery street property. OF one-four5h
| part interest of the lands purchased from
the estate of Silas Wood Is bequeathed to
| Francis l. Vanderbeek ana Isaac p.
/ Vauderbeek each one-third share and
| to Frank Pierson and Isaac Vanderb9eK
Piersou, sons of William E. Pierson and
testator's daughter, the remaining ONE
| third part.
In recognition of his services and busi-
| ness ability the testator bequeathed to
his nephew, Isaac P. Vanderbeek.
$50, 900 as a special legacy to en-
able him to enter into the partnership
with testator'S son and son-in-law.
| The testator recommended that, Tho
son of my son Frank and the son of my
deceased daughter. aud Stewart Wander
beck, son of my nephew Isaac, or such OF
them as may wish to engage in the busi"
! ness" should be taken in and allowed
l y.
| tator gave to his son Francis |. Vauder-
beck the dwelling Of deceased ut No. PSI
| York street, for his natural life, and at
his death 1t is to become for ever the
property of Francis ]. Vanderbseks .
Jr., for ever. All books and papers re-
laring to the family and family portraits
aud new desk are beQueathed to FrAnciS
/. Vanderbeek and Francis !. I.Vauderbesk,
Jr, so that they may be kept in tha
family. The household furniture gees to
Fraucis l. Vanderbeek, providing he pays
to Frank Pierson and Isaac Vanderbeek
Pierson each 81, 000 The piano and sill
yer are divided between Francis /. VAN
de rbeek and the sons of William E. Pier
son. To Louisa. wife of testator's son,
Francis 1. Vanderbeek, is bequeathed d
new six seated carriage and robes
MAY CARE FOR HIS BROTHER.
The will authorizes the executors to
contribute what they think proper from
time to time to the support of the de-
ceased's brother Henry Vanderbeek, but
that he is not made charge upon the
estate. The same provision is made for
Isaac R. Vanderbeek, son Of testator's
brother Ryn1er.
Francis Vanderbeek, Jr, is also be-
quea:hed $500 the day he marries and the
houses and lots at Nos. 243 and PAS
Paramount avenue and a vacant
lot on FairmounG and MontIsello avenues.
To Nellie Vanderbesk, q grand daughter,
Is DeQueabn0Q S0UU GD0 QaY Sne mRETleSa
and The two houses and lots at Nos. 247
aud 249 Fairmount avenue. To the
grandson, Isaac Vanderbeek Pierson, is
beQueathed $500 the day he marries aud
the knitting factory on Fairmount ave-
nue. and the two houses adjoining, NUM-
bered 246 and 246A. Frank Pierson, son
of testator's daughter, Susan, Is Glvsu
the house and lot No. IL Duncan avenue
and house and lot at No. 25f Fairmount
avenue He was given $500 when he
| married.
Further the will provides that all
the rest of ths estate at the exp iration of
ten years shall be divided into two equal
parts, Que to 60 to Francis l. Vapder-
beck and the other share to Frank
Pierson and Isaac VRnderbeek Pisrson
10 be divided between them equally. In
case of the death of either before receiv-
ing his portion or without leaving issue,
said portion Is to be distributed equally
j among all the grand children.
The will specially provides that
no division shall be made of the estate,
real or personal. which may be in use
by the new co-partnershiD so long as the
M embers require its use In business. The
firm shall pay TO the estate five per cent.
interest for ten VI which shall be
credited to the executors with rents and
interests except from the homestead and
the real estate bequeathed to the grand
children. The trustees and executors
may sell any property at any time 10 is
deem ed beneficial TO the estate.