The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-27
TERMSOF WILL
HOW CORNELIUS VANDERBILT DIS
POSED OF HIS RICHES.
Statement from Senator Depew That
shows the Estate to Be Valued at
About Seventy Millions.
ALFRED G.. is CHIEF HEIR
WILL RECEIVE NEARLY $4,000, 900
AND BECOME HEAD OF FAMILY.
Cornelius, Jr., Who Married Miss Will
son, Cut OF with s5OO,OOO Cash and
$I,OOO,OOO Held I'm Trust.
OTHERS GET $7,5OO,OOO EACH
WIDOW GIVEN ALL SHE CAN USE
DURING HER LIFETIME.
-WiIl Make COrnelius's Fortune
Equal the Others.
Cornelius, Jr., Who Married Miss Will
son, Cut OF with s5OO,OOO Cash and
$1,OOO,OOO Held I'm Trust.
OTHERS GET s7,5OO,OoO EACH
WIDOW GIVEN ALL SHE CAN USE
DURING HER LIFETIME.
Alfred More Generous than His Father
-WiIl Make COrnelius's Fortune
Equal the Others.

NEW YORK, Oct. 26.-The provisions of
the will of the late Cornelius Vanderbilt
| were made public tonight in a statement
by Chauncey NJ Depew.
Alfred Gwynne Vanderbilt inherits the
| larger portion of his fathers fortune, and
becomes practically the head of the Wander
bilt family. The will makes no mention of
the marriage of Cornelius Vanderbilt jr.,
to Miss Wilson, nor to any quarrel between
his father and him because of the union,
but apparently the fathers displeasure was
visited on the eldest son, he receiving, all
told, under the terms of the will but s., ,5O0,-
OO0 and 81 100000 of this is held in trust by
the executors. Alfred Gwynne Vanderbilt
is, of course, the residuary legatee, and will
possess a fortune of probably $iO.oO0,OO0 to
$50 600, COO. Gladys, Reginald and Gertrude
(Mrs. Harry Payne Whitney, will receive
about $500 900 each. But Mr.. Depew states
that Alfred will give from his share enough
TO Cornelius to make the latter rich
his brother and sisters. Alfred will there
fore turn over to Cornelius about s6OOO.0Oo.
The statement reads:
1.-The will of Cornelius Vanderbilt is dated
June Is, 1896. and the two codicils thereto
are dated. respectively, April a. 1897. and
April 4, 1899. His property is disposed of
| under these instruments as follows:
"First-A bequest to Mrs. Vanderbilt. his
widow, for her life, of the dwelling house
and premises on Fifth avenue, between Fif-
ty-seventh and Fifty-eighth streets. Also
the stable on East Thirty-eighth street:
also all the household furniture, pictures,
silver, musical instruments, works of art
and all other articles in his residence in
New York, with the power to heir to change
or dispose of them during her lifetime. From
this bequest is excepted. however, ancestral
portraits and busts and portraits of himself
and certain pieces of jewelry, which are
distributed among his children, Alfred g.,
Reginald, Gertrude and Gladys
"Second--At the death Of Mrs. Wander
bilt the property devised to her for life is
given to either Alfred G. or Reginald c.,
as she may appoint by her will, and in de-
fault of such appointment it goes to the
eldest of his sons then living. Alfred
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 sur
vive his widow, then this property is to be
divided among the then living children of
such sons and daughters. and if there be
no such grandchildren then 1t becomes part
of the residuary estate.
PEW AND OPERA HOUSE BOX.
"Thrd-A bequest to Mrs. Vanderbilt of
his pew in Trinity Church, Newport, r. l.,
and also all his horses, vehicles, harness,
equipments and stable furniture in his
stables at the time of his death, excepting
such as have been given, during his life
time, to his children: also, his box at the
Metropolitan Opera House Is given to his
widow
'Fourth-The residence, land and prop
erty, with all furniture, ETC., and contents
of the houses and stables at Newport, r. l.,
are given to Mrs. Vanderbilt for her natural
life and upon her death to such one of their
children, Alfred, Reginald, Gertrude or
Gladys as she may designate by her will.
and in default of such designation the same
becomes part of the residuary estate.
"Fifth-The Oakland farm, in South
Portsmouth, r. l.. with all buildings, furni-
ture equipment, live stock upon it, is given
to Alfred c. absolutely.
"Sixth-A bequest to Mrs. Vanderbilt of
100000 in securities, or, If she so elects,
s. 600 600 in money.
"Seventh--A bequest to Mrs. Vanderbilt
of the annual income or sum of $4,000
arising from securities to be set apart for
| that purpose by his executors.
"Eighth-At the death of Mrs Wander
bilt the principal set apart TO create the
income of $4,000 is given to Gertrude, AL
fred c.. Reginald c. and Gladys, or. If any
| of them be dead. to their issue in such pro-
/ portions as Mrs. Vanderbilt may direct in
her will, and in default of such apportion-
| ment the same TO be divided equally.
'Ninth--Under a power of appointment as
| q t,oIJ i,, ppdar bic fat
will he directs that $4,000 thereof be paid
TO his son Cornelius and the balance thereof
| be equally divided among his other chill
drea.
.Tenth-One million dollars is given to his
| executors in trust TO the use of his son
| Cornelius, who is TO receive the net income
| during his life, and upon his death the prin-
| cpal is to be divided into as many shares
as he leaves children and held in trust for
| them during the life OF the youngest child
living at the time of the death of testator,
| the income meanwhile TO be applied 10 their
maintenance and support, and upon the
death Of such child the principal to be paid
over TO the respective beneficiaries. But in
case Cornelius should leave no children sur
yiving him or IL any child surviving him
should die before receiving his share then
the principal or any unpaid portion thereof
Is 10 become part Oh MS resluudfy estate.
No payment OF such funds is TO be made
in anticipation of income or alienated dur
ing the lifetime OF the person entitled to
the income.
"Eleventh-Twenty million dollars in Sc
curities is TO be set apart by his executors
To be divided by them into four equal parts
and held in trust. one part each for the
use of his children Gertrude, Alfred,
Reginald and Gladys. the income thereof 10
be paid TO each for life. and upon the death