New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-27
THE VANDERBILT WILL.
uFRED GETS THE BULK i;
cORNELIUS ONLY S1,50O,0 900.
,t, SECOND son. NAMED As HEAD OF
THE FAMILY. GIVES HIS ELDER
RROTHER ABOUT S600o.ooO
fN-III-IlIT ANlE
FROM HIS INHERITANCE.

,,-u Of Cornelius Vanderbilt VIII be offered
o.s TODAY. The provisions were made
]" -. las. nieht 10y Senator ChaunCey NJ De
- ,rh, is one Of the executors Of the estate.
-, ,ost important fact set forth by the VIII is
80. cornelius Vanderbilt. jr. pays the penalty
...~r,ine against the wishes Of his father.
Instead of inhcritine the bulk Of the fortune
stsnp,nc into the place II head Of the family
rosses over and Alfred Gwynne Vanderbilt
no,,ea nv his father as the chief heir and re-
.he s.-4afor part of the estate. Under the
.,,s,ons ~ the WIFI Cornelius Nandcrhilt ~e-
,rfy 81 100000 The other four children,
,,... included. receive in the aggregate about
c--oonn each. Mrs. Cornelius Vanderbilt re-
,,.. S2o.t,NO outright. the house in the city
tho house in Newport for the term OF her life,
rhiob they revert TO either Alfred or Regi-
~. che ,,,o,. determine a trust fund which
,ie,a her S2jOpo0 year is also es'ab-
,sh.a A. her death this fund IS to be divided
-. the four children. Cornelius being eX-
oluded
ALFRED'S GIFT TO HIS BROTHER.
.,,.os &c The resiauary leeatee after the pay
-, ~ an these requests and many others pro
.,s.s for in the Will. Cornelius Vanderbilt. jr.
,.,orer viii be placed upon an equal basis
A bic brother Reginald and his two sisters
.,~orgb the action Of Alfred who inherits the
,r,. ~ the estate and becomes the head Of the
t,rrv Senator Depew made this statement
lest night
Whom Alfred Vanderbilt returned he decided
from brotherly affection and for family harmony
70 take our of his own inheritance and give to
his brother Cornelius sum sufficient 10 make
the fortune of Cornelius the same as that OF ms
brothers and sisters. This has been accepted pY
Cornelius in the same spirit.
As stated before. Cornelius received under the
provision u the will only Sl5OOV" and the
other children received about S75o"N each
Therefore Alfred to make the portion of Corne-
lius equal 10 that Of Reginald and the two
daurhters. gave him about S6OOoOo0 outright
The DELAY in fling the Will has been due 10 this
complication and the negotiations going on 70
secure an amicabe settlement and prevent the
rossihlitv Of q contest. All benehciaries under
the will have signed a waiver, and there is no
probability Of contest from any source.
The will does not contain a schedule OF prop
ertv. and no estimate can be formed Of the value
q the estate. except in a general way. IL
nav be months before the appraisers complete
their work. but those who are most familiar
with the affairs Of the late MI Vanderbilt say
that the fortune IS very near TO S1Oooo"Fl Ihe
,,ul ofNrr Vanderbilt is dated June Is. 1896. and
there are Two codicis making additional De-
eS aate ~ the viii IS significant as II shows
q was drawn up just about the time that his
son Cornelius announced his intention Of marry
,ne Miss Grace Wilson. 1t is fair to assume
that another will which had been IN existence
M 70 that time and in which Cornelius Wander
biz. tr. was much more literally provided for,
nd = 10 mt IN
cu,ed The viii was drawn just before Mr.. Van
derhnt was stricken the first time and previous
70 the marriage of young Cornelius, but at the
time Of It's execution Mr.. Vanderbilt knew that
his son was absolutely determined leyond any
hope Of reconsideration upon marriage which
he bitterly opposed That he never changed the
Will drawn up In the hour Of his btterest resent
ment is taken 70 Indicate that. although father
and son became reconciled before the death ot
Mr. Vanderbilt yet the father never seemed 70
reconsider his belief that the action Of his son
utterly removed him from his place as head Of
the family and custodian of the family fortune.
no THREAT OF CONTEST.
i could not be learned last night whether the
action Of Alfred in making this handsome con-
cession % his brother had been done on his own
motion. or whether it suggested 70 him
that it would be a courteous and brothery thing
10 do II was said emphatcally that there was
DO threat on the part of Cornelius 10 contest the
VIII or 10 make trouble Of any kind. That the
gift was made and received in a spirit Of broth
erly affection is vouched for by those who are |
In a position 10 know. Alfred becomes the head /
% the family and the residuary lega.ee of the /
estate il was estimated last night that his
total share would be about S41, 100000.
In dispos.ng of his property Mr. Vanderbilt I
nist made p bequcst 10 Mrs Vanderbilt. his /
widow. for lii- of the magnificent house in /
Ffth-aye. between Fifty seventh and Fifty /
eighth SITS. and ar her death the property IS to +
g. either 10 Alfred G. or Reginald as she may +
appoint by her Will. and in default Of such an F
appointment it IS 10 70 TO Alfred II he is then .
living Tie same conditions hold good In the
disposal o. The Breakers az Newport. Mrs. /
vanderbilt in addition 10 this receives a bequest /
oi S1~Ooov outr.sht. and a trust fund is estab- T.
hshec which S. 20 net her annual income of f
10000 At her death this fund is TO be di- /
weed among the four children. Cornelius not /
being beneficiary
Inc first mention in the will of any legacy 10 +
his son Cornelius IS when ne disposes Of the /
SoTDvo0 trust fund established by his father. /
me late VI. H. Vanderbilt This fund has ap- |
lrecaied some IN value. and IT is estimated 10 /
De worth about S5.JOO0OO OF this sum he gives |
svvvvO outright 10 Cornelius. The remainder ,
ne divides among the other four children equally. (
Then be gives S1.OOOO'D outright in trust for the
Use ~ Cornelius during his life, and al his death .
L Is 20 be divided into as many shares as he has .
children and is 20 be paid over 20 the respective .
DeneAciarles. In case there are no children the .
principal reeerts 70 the residuary estate That .
Is me only reference made TO Cornelius in the l
Will
As stated above Mr. Vanderbilt has already /
FEY aside $4,000 from the trust fund estab-
.SAed by the .ate w. II. Vanderbilt. for each u
MS other four children. At the death OF Mrs
Oo'AeAus Vanderbilt they participate equally In .
VIE distribution Of the s. ODOV)O trust fund left
'.' Aer maintenance. This Will give each one az
l4'''onal amount of 81 2JOV)O This makes the