The Providence news. (Providence [R.I.]) 1891-1906, 1899-10-28
MOTHER AND BROTHER.

In the 18th clause of the will be-
quest is made TO the mother of the de-
ceased. which reads:
ITO my mother as a mark OF affec-
tion, / bedueath 100000, also $l00. 600
TO my brother. William X. Vanderbilt"
In the 18th clause, wherein the 6rus-
tees of the several trust funds are di-
rected 10 invest the proceeds arising
from certain securities. the will desig-
mates what securities are to be so man
aged. They consist of United States
and state of New York bonds, mort
gage bonds of the New York Central
and Hudson River railroad, the Lake
Shore and Michigan Southern railroad,
the New York and Harlem railroad and
the Chicago and Northwestern Railway
company.
The will gives the added information
that the executors are directed 60 pay
annually to the Society OF st. Johnland
the sum Of $4,000. So long as the officials
of that society keep an agreement made
in 1892 with the deceased and Mrs. Van
derbilt. When the agreement shall be
broken. the annuity ceases.
In addition TO the pew in Trinity
church. Newport. II. l., Mrs. Vanderbilt
also receives the pew in st. Bartholo-
news OF this city.
There were no further differences to
be seen between the viii and the syn
opsis given out on Thursday vning.
INHERITANCE TAXEs.
Estimates as to the amount of trans
fer tax the estate will have to pay vary
considerably. All of the bequests are
subject to taxation at the hands OF both
the State and Federal Governments.
The State Inheritance tax. which will
he collected by Comptrollar Coler Is
per cent. on bequests to blood relations
and lhneal descendants. and per cent.
on gifts TO strangers I'm blood and cor
porations. excepting charitable institu-
tions. AS all the corporate heirs are of
this character and the great bulk OF
rhe estate goes TO lineal heirs il is COM
puted that the state tax will approx
mate 100000 TO 100000. On this 4ha
ComptToIler viii receive a 1 per cent.
fee for collection. N.Y.
The Federal war revenue tax is 80 25
for each 500 Of bequests of over 81 600
600 toiineal descendantsand sl5 for each
500 bequeathed to strangers in blood or
a corporation.
The early estimates made by those
close TO MIR. Vanderbilt fixed the total
cost OF transferring the estate at about
800. 900. IL now seems that that fie1,ro
is likely to be exceeded and that tho
war tax alone will run 10 s.. 600 600
DANGER OF CONTEST.
= Although senator Depew denied that
there was any threat of a contest Inv
Cornelius Vanderbilt and insisted that
the settlement was purely voluntary
and amic8ble on ali sides IL was mint
ed out that Mr. Depew's own
language In announcing the arrange
ment indicated that therehai been dan
ger OF family split on this subject
MIR. Depew said that Alfred had given
his brother enough TO even up his share.
no only from ''brothery affection. .
but for family harmony" From this.
IL was urged. the inference was fair
that here has been danger OF dis.
tur0ance OF harmony in case young Al.
fred had not made up his brother,
share out OF his own.
From these considerations the conclu
sion was very generally drawn tina
the settlement by whfch the wish o
Cornelius, the elder, was upset. am
Cornelius Jr., made 20 share equall,
with his other brothers and sisters. wa
the resuk Of a definite determination
on the part OF young Cornelius 10 ge
more than his father had left him. i
was alleged that the IS 600 600 require