The record-union., 1899-10-27

Gift From His Brother.
NEW YORK, Oct. 26.-The provis-
ions 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
Vanderbilt family. The will makes no
mention of the marriage of Cornelius
Vanderbilt, Jr., and Miss Wilson, nor
to any quarrel between father and son
because of the union, but apparently the
fathers displeasure was visited upon
the eldest son, he receiving all told
under the terms of the will but ST.,
100000, and S1,000,000 of this to be
held in trust by the executors.
Alfred GWynne Vanderbilt is, of
| course, the residuary legatee, and will
possess a fortune of probably forty to
fifty million dollars. Gladys, Reginald
and Gertrude (Mrs. Harry Payne Whit
ney) will receive about ST, 10000 each.
But Mr. Depew states that Alfred will
give from his share to Cornelius to
make the latter as rich as his brother
and sisters. Alfred will, therefore, turn
over to Cornelius about S6,000000. The
statement reads:
''The will of Cornelius Vanderbilt is
dated June IS, 1896, and the two CO.
dicils thereto are dated, respectively,
April 24, 1897, and April 4, 1899.
His property is disposed of under
these instructions as follows:
''First-A 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 to change or dis
pose of them. during her lifetime. From
his bequest is excepted, however, an
cestral portraits and busts, and por-
traits of himself and certain pieces OF
jewelfy, which are distributed among
his children, Alfred c., Reginald and
Gertrude and Gladys.
'Second-At the death of Mrs. Van
derbilt 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 default of such appoint
ment it 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
TO be divided among the then living
children of such sons and daughters,
and If there be no such grandchildren,
then it becomes 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.
! "Fourth-The residence. land and
property, with all furniture etc., and
/ contents of the houses and stables at
/ Newport, r. l., is given to Mrs. Wander
/ bilt for her natural life, and upon her
/ death to such one of their children,
/ Alfred, Reginald, Gertrude and Gladys,
I
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,
! furniture, equipment livestock upon
| it is given to Alfred G. absolutely.
! ''Sixth-A bequest to Mrs Vanderbilt
/ of $4,000, 600 in securities or, if she
/ so elect, S2,00O,000 in money.
]
| bilt of the annual income or sum Of
/ $3.50, 900 arising from securities so set
apart for that purpose by his executors.
"Eighth-At the death of Mrs. Van
/ derbilt, the principal set apart to create
! the income of $250000 is given to Ger
/ trude, 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 will, and
! in default of such apportionment the
same to be divided equally.
"Ninth-Under a power of appoint
ment as to S5,000,0OO held in trust
under his fathers will, he directs that
! $500,000 thereof be paid to his son Cor
nelius, and the balance thereof be
! equally divided among his other chill
dren.
'"Tenth-One million dollars is given
! to his executors in trust for the use of
his son Cornelius, who is to receive the
net income during his life, and upon his
death the principal 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 the testator. the
income meanwhile to be applied to
their maintenance and support and
upon the death of such child, the prin-
cipal to be paid over to the respective
! beneficiaries. But in case Cornelius
should leave no children surviving him,
or if 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
be made in anticipation of the income
or alienated during the lifetime of the
person entitled to the income
"Eleventh-Twenty million dollars in
securities is to be set apart by his
executors, to be divided by them into
four equal parts and held in trust, one