The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-10-27

New York, Oct 26.-The provisions of
the will Of the late Cornelius Wander
bilt were made public tonight in
s statement by Chauncey M. Depew. Al
fred Gwynne Vanderbilt inherits the
larger portion of his fathers fortune,
and becomes practically the head of the
Vanderbilt family.
The VIII makes no mention OF the
sYnarriaee Of Cornelius Vanderbilt, 1r.,
and Miss Wilson, nor TO any quarrel be-
tween father and son because of the
union. but apparently the fathers dis
pleasure was visited upon the eldest
son, he receiving. all told. under the
Terms Of the viii. but SI,500, 600, and
81 200. 600 of this 10 be held in trust by
the executors.
Alfred Gwynne Vanderbilt is, of
course, the residuary legatee. and viii
possess a fortune of probably $40. 600, 006
10 $50 000, 600. Gladys, Reginald ane
Gertrude Mrs. Harry Payne Whitney,
viii receive about s.. 1000 each But
Mr. Depew states that Alfred viii give
from his share enough to Cornelius TO
make the latter as rich as his brother
and sisters Alfred viii, therefore, turn
over to Cornelius about $6,o00,0e0. The
statement reads:
Provisions of the VIII.
dated June is, 1885. and the two codi-
ellis thereto are dated respectively April
"a, 1897. and April 4, 1899. His property
is disposed of under these instruments
as follows:
First, bequest to Mrs Vanderbilt.
his widow, for her life of the dwelling
house and premises on Fifth avenue,
between Fifty seventh and Fifty-eighth
streets: also the stable in East Thirty
eighth street: also all the household
furniture, pictures. silver, musical in
struments. works of art and all other
articles in his residence in New York.
with the power to her 10 change or
dispose of them during her lifetime.
From this bequest is excepted, how
ever, ancestral portraits and busts. and
portraits of himself and certain pieces
of jewelry. which are distributed among
his children, Alfred c., Reginald and
Gertrude and Gladys.
at Death of His Wife.
Second, at the death of Mrs. Van
derbilt, the property devised 10 her for
life is given 20 either Alfred g. or Reg
maid c. as she may appoint by her
Will and in default of such appoint
ment ii goes TO the eldest of his sons
then living. Alfred or Reginald. and if
neither of them be living at the time Of
her death, then to Gertrude if living
and if not then to Gladys In case
neither of said sons or daughters shall
survive his widow, then the property
Is 10. be divided among the then living
children Of such sons and daughters,
and if there be no such grandchildren.
then II becomes a part Of the residuary
estate
Third. a bequest to Mrs. Vanderbilt
of his pew IN Trinity church, Newport.
r. l., and also all of his horses. We
hicles, harness, equipments and stable
furniture in his stables at the time of
his death, excepting such as have been
given during his lifetime to his chill
dren also his box at the METROPOLITAN
opera house is given to his widow.
Property at Newport.
Fourth. the residence. land and prop
erty, with ali furniture, etc. and con-
tents OF the houses and stables at New
port. R l., is given to Mrs. Vanderbilt,
Tor her natural life. and upon her death
10 such one of their children. Alfred
Reginald. Gertrude and Gladys. as she
may designate by her viii. and in de-
iault OF such designation the same be-
comes part Of the residuary estate.
"Fifth-The Oakland farm in South
Portsmouth r. l., with all buildings
furniture, equipment, livestock upon it. !
Is given TO Alfred c., absolutely.
"Sixth-A Request to Mrs Vanderbilt
of 5000 600 in securities, or, if she so
elect 81. O0a. 600 in money.
'SeNenth--A bequeSt to Mrs Wander
blt Of the annual income or sum of 1
$250,000 arising from securities to be set 1
apart for that purpose by his eXecut-
ors.
Eighth-At the death Of Mrs. Van
derbi!t the principal set apart to Gre
ate tie income Of $3.50, 0o0 is given to
Gertrude. Alfred G., Reginald c. and
Gladys. or. if any of them be dead. to
their issue in such proportions as Mrs. |
Vanderbilt may direct in her viii. and
il default of such apportionment the
same to be divided equally.
His Son Cornelius.
'Ninth--Under a power of appoint |
ment as to $1,000, 600 held in trust under |
his fathers viii. he directs that $780, /
coo thereof be paid to his son Cornelius. /
mi the balance thereof be equally di- /
Niaed among his other children
Tenth-Qne million dollars is given (
10 his executors in trust to the use of /
ms son Cornelius. who is to receive the /
nFt inconse during his life, and upon I
his death the principal is to be divided !
into as many shares as he leaves chill /
drel-. and held in trust Tor them during I.
liz 'ife of the youngest child living at I
the time Of ire death Of the testator. 4
the income meanwhile to be applied to
their maintenance and support, and 1
AEON lie death 81 Sucn enid. the pfln- I
cipai 70 be paid over 10 the respective
demonstrates. But. in case Cornelius
should leave no children surviving him,
or Il any child surviving him should /
die before receiving his share. then the /
principal or any unpaid portion thereof !
IS to become part of his residuary es-
tate. No payment of such funds IS TO [
he made in anticipation Of income or
alienated during the lifetime Of the
person entitled 10 the income
To Be Held In Trust.
"EleVenth-Twenty million dollars in
securities is TO be set apart by his ex-
ecItors. TO be divided by them into
foaf equal parts and held in trust, one I
part each Tor the use % his children
Gertrude. Alfred. Reginald and Gladys.
tie income thereof 10 be paid TO each
for life, and upon the death of the bene-
ficlaTN, the principal or his or her
share 10 be paid 10 the issue of such
beneficiary in such proportions as may
he appointed by the viii. and in de-
fault Of such appointment. in equal
shares to such issue, and failing ISSUE
then the principal Of such share is To
be paid to the survivors Of The above
named Or their issue
'-Twelfth-The trustees OF the several
trust fumes are authorized in their dis
erection 10 sell or hold The securities be-
longing to The testator at the time Of
his death and 10 change Investments