The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1899-11-01

for his benefit and given to his children
at death. The half million is all that
cornelius is given outright, and is less
than the hundredth part of the estate.
Inns condition represents the sacrifice
which young Cornelius made when he
determined to marry Grace Wilson. In
order that Cornelius should not come to
want and perhaps to forestall a contest
OF the will. his younger brother, Alfred,
mas contracted TO pay him out of his
inheritance sum which will make Cor
nellus' share equal to that of the other
children, who are given about $7,500,000
each. Cornelius has signed waiver
and 1T is probable that there will be no
contest. 1t is announced that Corne-
Illus had made no threats and that AL
fred,s gift was prompted by brothcrly
consideration.
Estate OF Many Millions.
A statement regarding the provisions
of the Vanderbilt will was given out by
Chauncey NJ. Depew last night In n
most conservative estimate of the value
of the estate, made by one of the execu-
tors, he valued the property at $4,000
600. Others declare that the securities
at the present market value would bring
fully So, 100000 more. The figures are
so stupendous that those who have the
best information can do no more. than
make a wild guess. The executors esti-
mate of $70,000,0O0 is probably more
moderate than the appraisal for as
sessment will be, and more than $780,
900 will have TO be paid as an. inheri-
lance tax.
June Is, 1896. The dating of the will is
significant, as it shows it was drawn up
just about the time that his son Cornelius
announced his intention of marrying Miss
Grace Wilson. The will was drawn up
just before Mr.. Vanderbilt was stricken
the first time.
The Widows Portion.
Mrs Cornelius Vanderbilt receives ST.
100000 outright the house in the city
and the house in Newport for the term
of her life, after which they revert TO
either Alfred or Reginald, as she may
determine, and trust fund which is to
yield her $250,000 year is established.
At her death this fund is to be divided
among the four children, Cornelius not
participating.
Alfred is the residuary legatee after
the payment of all requests, and it is
estimated he will receive about S41, OO0,
900, after giving Cornelius $6,000,000.
Fund in Trust for Cornelius.
The first mention in the will of any
legacy to his son Cornelius is when the
father disposes of the $5,000,O00 trust
fund tablished by his father, the late
w. III. Vanderbilt This fund has APP
Dreciated some i'll value and it is est
mated to be worth about So, 100000. Or
this sum he gives 100000 outright to
Cornelius, Jr. The remainder he divid-
ed among the other four children equally.
Then he gives $1,000,000 in trust for the
use of Cornelius during his life, and at
his death it is to be divided into as many
shares as he has children and is to be
paid over to the respective benetciaries.
In case there are no children the prin-
ciyl 10 tIr1,r DO
That is the only reference made to Cor
nelius in the will.
The father, in his desire to completely
punish and humiliate the eldest son for
defiance of his wishes, accentuated the
supremacy Of the second son in a clause
of the will which provides that Alfred
shall inherit the gold medal voted by
Congress to Cornelius, the grandfather
of the testator. This clause also pro-
vides that Alfred will ''hand it down to
his eldest son, and so on down from
eldest son to eldest son.
Requests to Relatives and Friends.
There are a number of specific be-
quests. William X. Vanderbilt the
brother of the testator, is left 100000.
Chauncey M. Depew, Lifelong friend,
associate and companion of MIR. Wander
bilt, receives 100000. Edward V. w.
Rossiter, treasurer of the New York Cen
trail, an intimate friend of Mr.: Wander
bilt and an executor of the will, receives
$4,000. John Hone, another personal
and intimate friend, receives 10000
Rev. DR.. David II. Greer, pastor OF St
Bartholomew who was Mr.. Wander
bits pastor, receives $4,000. Charles
C. Clarke, for fortyseven years vice
president Of the New York Central. an
intimate friend Of Mr.. Vanderbilt, re-
ceives $4,000. Franklin Allen, cou-
sin, receives $4,000, and Maude
Gwynne K. Shepard, a sister, receives
500. 900. Other smaller requests are left
to friends and acquaintance.
GIFTS 10 hrrches and Colleges.
A legacy of 100000 is given to the
Y. M. G. A. for it's work among railroad
employees. A trust fund of 100000 is
established for st. Bartholomew church
and there is another bequest of S2OO,OOO
for the erection of building for church
purposese in st. Bartholomew parish
There are also the following requests:
Yale university, 100000; st. Luke's
hospital, $4,000; Domestic and Foreign
Missionary Society of the Protestant
Episcopal church, $4,000; trustees of
Vanderbilt university, Nashville, Tenn,
$4,000.
Mr.. Vanderbilt leaves his famous
painting. by Turner, Grand Canal,
Venice" said to be worth 100000, to
ha Natro re Ar+