The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-27
A DIVISION Of MILLIONS
Vanderbilt's Wealth Will Be
Proportioned.
CORNELIUS IS CUT OFF
His Father Leaves the Poor Fellow Only
Million and a aalt-His Brother
Will See That He Doesn't
Starve.

New York, Oct. 26.--The provisions of
the VIII OF the late Cornelius Wander
dit We're made public tonight in a
statement by Chauncey M. Depew Al
treal Gwynne Vanderbilt inherits the
larger portion of his fathers fortune
ana 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 apparent
ly the fathers displeasure was visited
| upon the eldest son, he receiving, all
/ told. under the terms Of the will but
oOoo, and $1,o00,Oo0 Of this to be
held in trust by the executors. Alfred
GyWnne Vanderbilt is, of course. the
residuary legatee and will possess a
! fortune Of probably forty to fifty mill
| ion dollars. Gladys, Reginald and Ger
| trude Mrs. Harry Payne Whitney,
Will receive about s7,500,000 each. But
Mr. DepeW states that Alfred will give
from his share enough to Cornelius to
make the latter as rich as his brother
and sisters. Alfred will, therefore, turn
over to Cornelius about $6,0O0O0O. The
statement reads:
THE will OF Cornelius Vanderbilt is
dated June Is, 1896, and the two codiciis
thereto are dated respectively April "a,
1897, and April 4, 1899 His property
is disposed of under these instruments
as follows:
''Ffrst-A beQuest to Mrs. Vanderbilt,
his widow, for her life. of the dwelling
house and premises on Fifth avenue,
between Fifty-se venth and Fifty-eighth
streets. Also the stable in East Thirty
eighth street; also all the household
furniture, pictures, silver, musical it,
stfuments, 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 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 G., 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, 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 IL
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 il there be no such grandchildren,
then it becomes part of the residuary
estate.
"Thrd--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, ana
contents of the houses and stables at
Newport, r. l., is given to Mrs. Van
derbilt for her natural life and upon
her death 10 such one of their children,
Alfred, Reginald, Gertrude and Gladys,
as she may designate by her will, and
in default Of such designation the same
becoming part of the residuary estate.
''lTifth--The Oakland farm in South
Portsmouth, R. l., with all buildings,
furniture, equipment and live stock
upon it is given to Alfred G. absolutely.
''Sixth-A bequest to Mrs. Vanderbilt
Of $1,000, 600 in securities, or, if she so
elect, $1,000, ,000 in money.
''Seventh--A bequest to Mrs Wander
bilt of the annual income or sum of
S250,000 arising from securities to be
set apart for that purpose by his eX-
ecutors.
''Eighth-At the death of Mrs. Van
derbilt the principal set apart to create
the income of s250.000 is to be 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 will, and
in default of such apportionment the
same to be divided equally.
NinJh-TFnGer a pDwar of anpnipt-
ment as to $5,Oo0,000 held in trust under
his fathers will he directs that $500 900
thereof be paid to his son, Cornelius,
and the balance thereof be equally di-
Vlded among his other children.
''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 principal is to be divided
into as many shares as he leaves chill
dren 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- |
cipai to be paid over to the respective |
benet1ciaries. 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 there
of is to become part of his residuary
estate. No payment of such funds is
to be made in anticipation of 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 ex-
ecutors 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 to be Paid to each
for life, and upon the death of the
the principal or his or her
share 10 be paid to the issue Of such
beneficiary in such proportion as may
be appointed by the WILL and in de-
fault of such appointment, in equal
shares to such issue. and failing in
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 sew
eral trust funds are authorized in their
discretion to sell or hold the securj-
ties belonging to the testator at the
time of his death and to change in