The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-01-15
WALKER ESTATE
REMAINS INTACT

/ Continued from Page l.
visions of Mr.. Walkers last will and
I testament read, to the members of the
family at the family home by the fam
lily attorney. Judge Samuel Mcdowell,
! yesterday forenoon. The original viii
was written in 1887. while Mrs. Walker
was still living. This was radically
modified by a codicil drawn w by
Judge Mcdowell and signed by Mr..
Walker in 1899. just before he started
I for Europe. The cOdicil gives no list
of the properties Of the departed finan-
cier, nor does it place any value upon
any of his holdings. For this reason 1t
is very difficult TO estimate with any
degree of accuracy the value Of the es-
tate. but those who have been more or
less familiar with M. Walkers busi-
ness for a number of years past place
the present value Of the estate at not
less than 100, coo.
The five children who become the sole
heirs and the executors Of the viii are
J. r. Walker. jr-. Mary A. the wife
Of N J. Cheeseman. Charles 4. " aiker,
Albert Edmund Walker and George
RAYMOND Walker. The last viii not
become of age until next June, but the
will provides that in that case the
minor becomes one Of the executors on
reaching his majority. The estate is to
stand as it is at present until the eX-
piration of the twenty years, when an
equal division is To be made.
The $3.50 or $50, 600 that is to be dis
tributed among the FIVE children each
year is to be taken from the net earn
ings Of the estate. The total net earn
iuSs, il is thought, viii be very much
larger than that If that is the case.
the balance Of the net earnings VIII be
added TO the estate as Il whole. II will
be seen from this that the FIVE children
the
twenty years. If each gets $4,000
year. the snug sum OF 100000. and viii
have the estate intact at the end of that
time and no doubt greatly augmented
in value.
No Change in Firm
The will evidently does not coHtemN
plate any change in the firms business
of the Walker Bros as il is conducted
at present. and from all present indica-
tions the Walker Bros. banking bust
ness on the corner Of Main and Second
South, and the Walker Bros. mercaD-
tile business on the corner of Main and
Third South viii continue right on as
though nothing had happened. the eX-
eCutOrS of Inc J. r. Walker estate now
being the ore partner and NJ II. Walker
being the other. Another provision Of
the viii sets forth that any bonds.
stocks or mining shares may be sold
by a majority Of the executors. but in
order to sell real estate it VIII be neces-
sary to have the unanimous consent Of
all the executors. This. 10 is thought,
viii have a tendency to hold all the real
estate that is now in the estate The
bank corner is perhaps the most valu-
able Of All the reality. The home place
at AZ South Main street was decided
by Mr. Walker to his wife years ago.
and has never been administered upon
since her DEATH so that st is in reality
her estate still; itswiil, in time, be di-
vided among the children
Heavy Life Insurance.
Another item in The estate left by AIR
Walker is a $500 life Insurance policy
i'm one Of the old line companies A
few years ago Mr.. Walker was carrying
$50 600 IN life insurance policies. but per-
mitted $4,000 g. lapse. The deceased
was always very liberal with his fam
ly: he had a large family of children.
and gave each first-cIass educational
advantages. and good advantages for
travel. It is thought that he expended
rom $4,000 to $50 900 per year on his
family. and i'm this way held his for
une down far below what it might
nave been had he been penurious and
yrasDing-
Judge Mcdowell, who has been the
amily lawyer for some years past, will /
lie petition for permission to probate I
he viii today. This would have been ]
lone yesterday, but it was thought ad- I
risable TO retain copies of all the pa /
'ers. and the time was taken to have /
.o2ies made.