Marietta daily leader. (Marietta, Ohio) 1895-1906, 1900-03-04
Executors OF Vanderbilt VIII
Cut Off Without Com
mission.

New York, March 3.--The executors
OF the will of the late Cornelius Van
derbilt have just made the discovery
that the document contains a "sticker"
in 1t. 1t is paragraph 1s that viii
cut them out Of fine plum for their
services and will save the estate near
ly $3,0OO.000
Senator Chauncey NJ. Depew, who
was left a legacy of 100000, will lose
Fabout four times that sum in the usual
commissions paid to executors. w. X.
Vanderbilt was left sl00, ,000,and would
have received $75O.0O0 commission.
E. V. w. Rossiter was left $4,000 by
paragraph 10, which also costs Mrs. A.
G. Vanderbilt s750,0OO
In the will Cornelius Vanderbilt
stipulated that none of the executors
was to receive any compensation
whatever from the usual commissions.
His children, therefore will profit to
the amount of s2,650,O00, deiuctlng the
bequests to Depew, w. X. Vanderbilt,
e. V. w. Rossiter and the dover
rights of Mrs. Alice G. Vanderbilt, his
widow.
The real value of the Vanderbilt es-
tate has never been arrived at, nor
will it ever be known. 1t is today
variously estimated between sS0,000,-
and $1OO, 100000. AS an upset figure
probably $90,000,0O0 is just medium.
AS years roll on until the vast estate
is finally apportioned among the lega-
tees it will undoubtedly have appre-
cfated $10,000,000 or more, bringing II
up to the one hundred million mark
Upon this basis at least commissions
would be paid to the executors and
double commissions would ultimately
bedue them on perhaps the most of ii
on their trusteeshiD.
Under this law affecting the commits,
sions and compensations of executors
and trustees they ale allowed pei
cent on the first 81 900, 21s per cent or
the first $4,000, and l per cent upon
all sums aggregating $1,000 or over.
The law contemplates not more than
three executors to any will and as
many trustees, though the appoint.
ment of a greater number is not pro
hiblted However, where mere than
three are named they have to spliI
commissions.
In the will of Cornelius Vanderbilt
,her are named as executors and trus'
tees the wife of the testator Mrs
Alice G. Vanderbilt William X, his
brother; Chauncey NJ. Depew and e
V. w. Rossiter.
For her services as executor ant
trustee Mrs. Vanderbilt received be-
side her husbands personal property
and most Of his real estate, S2,000,00C
in cash and an annuity of S250,000;
William X. Vanderbilt received $780,
600, Chauncey NJ. Depew 100000 and
E. V. w. Rossiter $4,000.
If they were paid at the usual COM
pensaton Mrs. Vanderbilt would re-
receice additionally $750,0OO. Chaun'
cey NJ Depew would receive $3.50, 900
William K. Vanderbilt S650,000 more
and e. V. w. Rossiter S700.000 Thai
is, they would receive in the aggregate
SO, 100000 to be divided among fouI
executors, which sum would include
also their fees as trustees.
But the little joker is thus penned as
the nineteenth provision of the will:
81 direct that no compensation OF
commission as such shall be paid tC
any living executor or trustee under
this will for any service as exevutol
or trustee under the will for any ser
vices as executor or trustee hereun
der"
In justice to Mr.. Vanderbilt i
should be stated, however, that the leg
acies left to the executors were abso
lutte; there was no string to then
of whatever kind and if any of then
desires he may refuse the executor
ship and still benefit under the Will.