Evening star., 1912-07-15
MONEY IS IN TRUST
John A. ChaIoner Devotes
$1,5OO,O 600 to Education.
PROVISIONS OF HIS WILL
Control Of Property Retained Dur
ing Lifetime, Then Goes to Col
leges and Universities.

plans for aid to southern education are
made in the last will and testament of
John Armstrong Chaloner, dated May 10.
1912. Mr.. Chaloner, fearing that relatives
| may attempt to contest the will on
| grounds of alleged insanity. has conveyed
his entire property. estimated at 81 ,JOO-
OOO. in trust to the Virginia Trust Com
pany of Richmond. naming the Univer-
| sity of Virginia and the University of
| North Carolina residuary legatees,
while nine other educational institutions
| in several states will receive $1,000 each.
| The residuary legatees are to share alike.
Control of the property Is retained by
| Mr.. Chaloner during his lifetime. and the
right to vote stock, but he agrees not to
incumber any of the real estate or hy-
pothcate any OF the securities. except for
the permanent improvement of his Merry
Mills property in Virginia and his new
York estates.
Bequests of $4,000 Each.
To Columbia University of New York
he leaves $4,000, the interest of which is
to go toward increasing the Chanler hts
torical prize. The Virginia Military In
stitute, the Virginia Polytechnic Insti-
tute. the College of Agriculture and Me-
| chanical Arts of North Carolina, the town
of Roanoke Rapids, n. c., the University
of South Carolina, the South Carolina
College. the Clemson Agricultural College,
in South Carolina and the College of
Charleston are each given bequests Of
$4,000. The interest on the $4,000 given
the town of Roanoke Rapids is to be ex-
pended annually for Christmas tree for
| the public school children, and provision
| is made for the gradual increase of the
fund. Each child is to receive present.
| Mr.. Chaloner, who is a member Of
| the Chanler family Of New York. but
! who has restored the original spelling
of the family name. has been adjudged
| sane by the courts of Virginia, but
| the New York courts have never set
| aside a decree declaring him mentally
| irresponsible. BY the execution of the
| deed Of trust in Virginia he hopes to
secure the carrying out OF the terms
| of his will.
Property Transferred.
The deed transfers the following
property:
Eight hundred and fifty-five shares
| of the preferred stock Of the United
Industrial Company grounds and fac
| tory at Roanoke Rapids, N. c.: par
value, $500 each.
Two hundred and thirty shares Of the
common stock OF the same company;
| par value 500 each.
Three thousand five hundred and
forty shares of stock Of. the Roanoke
| Rapids Power Company; par value, SO
each.
Promissory note OF the United In
dustrial Company for $4,000.
Second mortgage on properties of the
United Industrial Company for ss5,112.
ChaloHer's share Of the Cozine, farm
! in New York city left him by his
grandaunt. Laura Astor Delano.
Lot with ten-story Office building at
| 298 Broadway. New York
Villa site of $50 acres at Rhinebeck-
! on Hudson.
| Farm Of sixty acres at Red Hook.
/ Dutchess county. New York.
/ Cotton plantation Of 300 acres in
Halifax county, N. c.
Parcels OF real estate in Roanoke
| Rapids.
Private Orphan Asylum.
| The ten-story office building in New
York Is transferred subject to an in
| cumbrance Of $4,000. to provide an en-
| dowment for private female orphan
| asylum at Red Hook, N. Y, owned by
| Chaloner and known as ST. Margarets
| Home.
The nine $4,000 beauests are to be
| created out of the accumulated income
from the properties. but If at the time
| of his demise this accumulated income
does not aggregate $4,000. the trustees
| of the residuary legatees are authorized
| to incumber the properties to meet the
I deficit.
| The "Chanler historical prize at
| Columbia University. to which Chaloner
adds $4,000, was founded by John Win
/ throp Chanler. and is given annually to
| the junior who writes the best historical
| essay The income from the addition Is
/ to be distributed as follows: One hundred
dollars as a prize to the second best his
| torical essay: $50 for the third best, and
| the remainder to swell the first prize.