The free lance. (Fredericksburg, Va.) 1885-1926, 1899-11-02
The Vanderbilt Will.
New York Tribune

Ths Vanderbilt Will.
New York Tribune
Tue date of the will is sigrifict NJ,
IS II shows it WAS drawn up Just
about the time that b $ 500, Cornelius,
announced mis- intention Of marrying
Miss Grace Wilson. II is fair to as.
sumo that smother will, which had
been in existence up 10 that time, aud
10 which Cornelius Vanderbilt. Jr.,
was much more literally provided
TOR, was destroyed, aud the present in.
strument exf cuted TIE will was drawn
lst before Nj Vanderbilt was strick.
en- the first time, aud previous to the
marriage of young Cornelius. bat at
the time Of its execution Mr.. Wander
Ollt knew that his son was absolutely
determined beyond any hope of re-
consideration upon a marriage which
be bitterly opposed That be never
changed the will drawn up in the
nour e his bltterest resentment is
taken 10 indicate that, although
father and son became reconclled be-
tore the death of Mc. Vanderbilt, yet
rhe father never seemed to reconsider
his belief that the action of his son
utterly removed him from his place
as head OF the family and custodian
# the family fortune.
so THREAT OF CONTEST.
Il could not be learned last night
whether the 4ctIon of Alfred in max
ing this handsome concession to his
brother had been done on his own
motion. or whether it was suggested
to him that 1t would be courteous
and .brotherly thing to do. II was
said emphstieally that there was no
threat on the part Of Cornelius to con-
test the will. or TO make trouble OF
any kind. That the gift was made
aud received in spirit of brotherly
affection is vouched for by those who
are in a position to know. Alfred
becomes the head Of the family and
the residnsry lsgatee Of the estate
1t is estimated that his share would
be about 81 ,000,00
Ia disposing of his property Mr.. Van
derbllt first made bequest 10 Mrs
Vanderbilt, his widow. tor life, of the
magnificent house in Fifth avenue, be-
tw eu Flfty.sev 1th and Fifty. eighth
streets, an at her death the property
is TO 90 either to Alfred Cor Reginald
as she may appoint by her will, and
IN default of such An appointment it
is to 90 to Alfred if be is then living.
Tne same conditions hold good in
the disposal of The Breakers at New
por,. Mrs Vanderbilt, in addition to
this, receives bequest of - 600, 900
outright, and a trust fund is estab..
lished which is to net her an annual
income or of $3.50, 1000. At her death
this fund is to be divided among the
four children Cornelius not being q
beneficiary.
The first mention 10 the vii Of any
legacy to his son Cornelius is when
he dlsposes of the s. 10000 trust
fund established by his father, the
late W. Il. Vanderbilt. This fund
has appreciated some in value, and
it is estimated to be worth about 50,
500, 900. OF this sum be gives $500,
600 outright to Cornelius. The re
mainder he divides among the other
four children equally. Then he gives
100000 outright in trust for the
use of Cornelius during his life, and
st his death it is to be divided into
as many shares as be has children
and is to DO paid over to the respect
i've bene6ciarles. 10 case there are
no children the principal reverts 10
the residuary estate. That is the
only reference made to Cornelius in
the will.
AS stated above, Mr.. Vanderbilt
has already set aside 81, ,250, 900 from
the trust fund established by the late
W. H. Vanderbilt, for each Of his
other four children. At the death
of Mrs. Cornelius Vanderbilt they
participate equally in the distribution
Of the s., ,000, 900 trust fund left for
her:maintenance. This will give each
one an additional amount OF 81, 25O,-
900. This makes the bequests so far
So 500, 900 each. Mr.. Vanderbilt
next set aside fund Of $40, 900, 900
to be divided equally among the four
children, which will give them each
an additional, $5.000,00O, or make
their entire bequest in the aggre
gate about 81 500 900 each, excep
Mrs. Harry Payne Whitney, who
gets q special bequest of 81, 200, 900
in a codicll. Alfred, who is the resid
usry legatee, has already received
s7,500,000, and it is Stimated that
he will receive about $40 900 900
more, making his entire bequest
about $47 500 900, bat as be agrees to
give his brother Cornelius about
So 600, 900 to make the lstter's hold.
ings equal to that OF Reginald and
the two daughters, it is estimated
that he will have about $41 900, 900
left, as told before.
SPECIFIC BEQUEsTs.
There ara q number 6f specific ! o
quests William K. Vanderbilt. q
brother Of the testate, gets 500, 600 |;
Chauncey NJ. Depew, lifelong
-..k~ IL oorn a ION NJ