New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-28
A CONTEST WAS NEAR.
CORNELIUS VANDERBILT. JR., DISAP-
POINTED WITH THE WILL.
CONCESSIONS MADE BY ALFRED. 1T is SAID.
.1oxr AvERTED LITIGATION-THE
YOUNG MAN MAY GO INTO BUSI-
NESS WITH HIS FATHER
IN-LAW. X. T. WILSON.

NESS WITH HIS FATHER
IN-LAW. r. T WILSON.
Tho provisions Of the will Of Cornelius Van
s.rbut which were made public yesterday
o.ed intense interest The fact that he cut off
bic eldest SON. Cornelius. with S1.5OO.OOO and
,eoueathed TO the second amount esti-
.ooted roughly at S4OO0OOO after giving lega-
,es ~ the other children OF 1900 900 each. aad
se,tljng about SSOo0OOO upon the widow.
armed the belief that had existed for time
,n many quarters that Cornelius would fare
hedlv for his marriage against the wishes Of his
father The long delay in illing the document
l., believed 10 have been due 10 negotiations be-
queen the henefcaries under the will looking
- an amicable settlement with Cornelius Van
derbilt. jr. in order to preclude the possibility
~, q contest When the VIII was finally made
,,hlic a statement was given out by Chauncey
NJ Depew saying that the gift OF S6OOO.OOO by
,tred 10 Cornelius was dictated by brotherly
a1ec,ion and in the interest Of family harmony,
snd had been accepted in that spirit.
IN THE HANDS OF HIS LAWYERS.
rrono certain remarks yesterday, II appears
.,a, this settlement alone. effected after bitter
a,scussion prevented a contest that might have
rsulted in one OF the greatest and costliest will
,r,gatlons known. Cornelius Vanderbilt. 1r
vhen he learned the provisions OF his fathers
wifi placed his interests in the hands OF Carter
e. Iedyard They conducted the negotiations
with Henry r Anderson. the attorney Of Alfred
G. Vanderbilt While none Of those interested
will say just what done. enough has been
admitted 10 indicate that had Alfred not made
the concession mentioned, litigation would have
,oi Cornelius Napderhif the
Grand Central Station yesterday Alfred
at Newport When Cornelius was he dis
missed the subject briefly by saying: Whatever
arrangements may have been made were effect
ed through my attorneys. Carter & Ledyard.
have no comment to make upon the settlement
1t was a family arrangement and not gift
Lewis Cass Ledyard. of Carter & Ledyard. at
torneys for Cornelius Vanderbilt. said yester-
day afternoon that the firm had nothing what
ever to say" in regard to tLeir clients treatment
under his fathers will.
HOW HE LOOKS UPON IT
Il was learned from trustworthy source yes
terday that Cornelius Vanderbilt, jr., is much
by his fathers will and the attitude
In which he has been placed by his brothers
handsome concession, and that he will withdraw
rom any further participation in the affairs OF
he Vanderbilt properties. Cornelius Wander
1it Jr.. is described by those who know him
most intimately retiring and reti-
ent young man. He took his quarrel with his
ather much to heart and after his marriage
ried in every way to overcome the estraEge-
nent. He entered the office Of the superin-
o,dent y, ,n.,iv. ,.--~-- Of efI- New- YorK c--r-
raj and went TO work TO prove his merit. He
toned early and late. He never asked more
than any other employe. He invented a loco
motive which successful. He did every
thing he could 10 prove to his father his serious
intentions. He never complained. and never al
lowed an opportunity to pass without trying to
secure establishment of the former cordial
relations between himself and his father.
II is said further that he hoped and believed
he had succeeded in reganing his parents
favor The two men did not discuss the sub
jec but for hours father and son talked cordial
ly at the Breakers in Newport and also in this
city. While the wife Of Cornelius. jr.. was never
received by either the father or mother Of the /
young man, the son OF Cornelius. jr was often
taken 10 the Breakers, and Mr.. Vanderbilt /
manifested keen enjoyment in seeing his
grandson. II Is said that in the light of these
talks and the fondness displayed by his father |
for the baby Cornelius Vanderbilt. jr., believed /
that he had regained his fathers favor. and /
would share at least equally with Alfred /
INynne. should he not be the chief heir When /
Ae learned TIE provisions Of the Will he was /
Hucn disconnected and troubled II was said /
ses'eFday that he would soon retire from his /
pace in me N-W-Nork Central office and that /
he wou'c never attempt 10 have a voice either /
IN the family councils or in the management Of |
ine enormous Vanderbilt properties. His plan. |
u was added was 20 90 into the banking bust |
ness as partner Of his father-in-law, r. r. |
W ison. Neither Cornelius Vanderbilt jr.. nor |
All wilson would discuss this statement yester-
1ay' hut such action upon the part of Cornelius |
ancernAt Jr. is expected by his relatives and |
Ne intimate friends Of the family
AS TO THE APPRAIsEMENT
Nothing could he learned yesterday as to when
the appraisers would finish their inventory Of .
'he estate. IL viii take long time, and il may
be year before the whole business is finished. /
" course tfe bulk ~ the estate remains intact, /
but certain securities Will have 20 be sold in .
order 20 provide cash for specific requests Mr. /
Depew Was the only one OF the executors who /
made any climate as 10 the value Of the estate.
ne placing roughly at S7OoO0oC0 The taxes /
10 De paid upon 10 are exceptionally heavy In /
1ne hrst place. there is special war tax, which /
nm Shs rom 50 - 20 SO every 500 bequedthed.
-. ,~s iate OF - - IS for amounts or SlVVVVV +
So 80 20 brother or q lneal descendant, ana the .
90 90 is Tor am bequcsts 10 strangers In blood OF /
i,.'es polite or corporations, which include re-
.-sous and charitable Institutions II is eSu- /
mated that The National Government will real /
-@e about 50 OOn 900 from the estate There Is /
SSo State Inheritance tax. The rate here is /
4 ts' cent upon beQuests 10 blood relatives ana .
..,al SO, aescelaants and per cent upon those 10 .
I. = al gers n blood and corporations charitable /
.,, ~, ,Nuons excluded it is believed the estate
WI w." nave o. pay the State about Si0OOO. ana /
g., .'.r controller gets per cent out OF this ne /
VIII receive about s. 900 Mr. Coler said yes
,.s.r"y DO would make no move TO collect the /
"a s1A 4-r The State until the Will had been ad-
- , io Probate and the schedules Of the es-
'"'V "al been prepared
IHh GIFTS TO ST BARTHOLOMEW'S
MF. NanderbNrs handsome bequests 10 st.
nar tholomew's were in line with his gifts 10
"ai church IN his life He was always fond OF
"e Rev. Dr. Greer pastor, and was a liberal
Contributor 20 the church and its work. That