The record-union., 1899-10-27


life and upon the death of the bene-
ficiary the principal of his or her share
to be paid to the issue of such benefi-
ciary in such proportion as may be
appointed by the will, and in default of
such appointment, in equal shares to
such issue. and failing issue, to the
principal of such share is TO be paid to
the survivors of the above named or
their issues.
'Twelfth-The trustees of the several
trust funds are authorized in their dis
cretion to sell or hold the securities be-
| longing to the testator at the time of
| his death, and to change investments.
and are directed to invest trust funds
arising therefrom in certain specified
securities and classes of investment,
with additional authority in the mort
gage bonds of any railroad approved
for that purpose by al. the executors
who may qualify. They are further di-
rected to hold securities in which trust
funds may be invested in their names
as trustees for the parties respectively
| for whose benefit the trust is created,
keeping each trust separate and dis
| tinst.
"Thirteenth-Specific bequests are
made as follows: William K. Wander
bilt, 100000; Chauncey M. Depew,
$500, 600; Edward V. w. Rossiter, $780,
900; John w. Hone, $4,000; Rev. DR..
David H. Greer, $4,000; Charles c..
| Clark, $50, 1000; Franklin Allen, S25,-
900; Maud Gwynne Shepard, $50, 600;
John Rutgers Leroy, $4,000; Charles
f. Cox, $4,000; Edward T. Chapman,
son of Rev. E. r. Chapman Of Water
vleit, N. Y, $4,000; George r. Fear
ing, $4,000: Rev DR.. William s. Lang
ford $4,000 George A. Warburton,
$4,000; Robert r. McBurney (dead),
S1O,0O0 j. H Hattmaker, $4,000.
Also the following annuities: Mrs.
VIM TurnbuT, $1,000; John T. East,
81 200; Mrs. jeremiah Simonson, ST.
200; Mrs. Sarah Simonson, $500; Mrs
Cornelius Littell, 5000. Upon the death
of each annuitant the principal set
apart for such annuity is added to the
residuary estate.
also, it is provided that the judg-
ment of the executors shall be final in
respect to any division of estate made
by them, and each executor and trustee
is relieved from responsibility for the
acts or omissions of any other and no
|
curity.
"Fourteenth-A legacy Of 100000 is
given to the Young Mems Christian AS
sociation of New York, and the desire
is expressed it may be used so far as
practical for work among railroad en-
ployes.
Also bequest of 100000 is given
to the rector church wardens and YES
trymen of ST. Bartholomew Church.
to be kept invested by them, and the
annual income applied to the mission
ary work of the parish.
There is a further bequest of $500
600 for the erection of a building for
church purposes in said parish, con-
tingent upon it's not having been erect
ed prior to the testator's death,
Also, the following bequests: Yale
University, 100000; ST. Luke's Hos
pital, New York, $4,000; the Domes-
tic and Foreign Missionary Society of
the Protestant Episcopal Church, $50
600; trustees of the Vanderbilt Univer-
sity, Nashville, Tenn, $4,000; the
Redwood Library at Newport, $4,000;
the Newport, r. l., hospital, $4,000;
the Christian Home for Incorporate
Men, New York $4,000; the Manhat-
tan Working Girls Society of the City
Of New York, $4,000; the New York
Bible and Common Prayer Book So
ciety, $4,000.
ALSO, the executors are directed to
pay to the Society of st. Johnland an
nually the sum of S24,0 600 and a be-
quest of $4,000 is made to the same
society.
"Also, to the Protestant Episcopal
Society for Seamen in New York City a
bequest of $4,000 is given, and Tur-
ner's painting of the Grand Canal
Venice, is given to the Metropolitan
Museum of Art in New York City.
"Fifteenth-a bequest of 81 900 i2
given to each of the family servants
who has been in the employ of the
| house or stable of the testator for two
years next preceding his death.
Also, the following bequests: John
H. Dempsey, $1,000; Charles A Whit
taker, coachman, 81, 600; Tony his bar
Der, $4,000; John Allen, his farmer, 81,
600
'Sixteenth-The gold medal voted by
Congress in 1865 at the close of the
civil war to Cornelius Vanderbilt, his
grandfather, is given to Alfred, his son,
eldest son, and so on down from eldest
son to eldest son.
"Seventeenth-All the rest, residue
and remainder of the estate, including
all lapsed legacies and the principal
of annuities, is given to the executors
in trust to hold and invest and re-
invest and collect rents, income and
profits for the use of his son Alfred
and to pay to him the net income there
of until he becomes 80, when he is to
come into possession of one-half of said
estate, the income of the remainder tC
be paid to him as before until he be-
comes 80, when he is to come into full
possession thereof If he dies before
coming into possession of any or all
of such estate and leave children sur
viving, the undistributed portion is to
be divided into equal shares and held
in trust for such children until they
become of age. But in the event of
there being no children living at the
time of Alfreds death, or of their dying
before coming of age, then the testa-
tors son, Reginald c. Vanderbilt, in all
respects as to the undistributed por-
tion of such residuary estate is tc
stand in the place instead of Alfred, re-
ceiving the income until he is 30. and
then half the principal and the income
of the balance until he is 30 years OF
age, when he is to be put in possession
of the rest. In the contingency that
both Alfred and Reginald die without
issue before being put into possession
of said estate, then the testator's
daughters Gertrude and Gladys are
/ Y11a1 in