The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1913-04-20
ENORMOUS ESTATE
LEFT TO SON
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lars, he uses the following language:
Without imposing any duty, trust,
or obligation upon my residuary lega-
tee, | request that he continue, SO
long as, in his Judgment, the same
shall be necessary for its support, the
same assistance which l have been in
the habit of giving during my life
time to the society of the lying-in hos
pital of the city of New York.
This annual gift. here alluded to, is
known to nave been 800, 900.
Executed Recently.
1t is worthy of note that the will was
executed as lately as january 4 last
and a codicil was attached .on January
6, only the day before Mr.. Morgan
took leave of America on the trip
abroad from which he never returned
alive. The document begins with the
religious utterance which already has
been quoted.
Article 2 provides that his body shall
be buried in the family burial place
prepared by my father in Cedar Hill
cemetery at Hartford, Conn.," and that
the same simple funeral arrangements
made in the case Of his father shall
be carried out in his own case.
Article 8 directs the payment of his
debts, funeral expenses. etc, n gives
to the executors the following:
Full power and authority to
recognize and pay as among
such debts any promise or hi
cation made by me, verbally Or
otherwise, which, although not in such
form that the holder could compel
payment thereof by my estate, my ex-
~ccutors think proper to be paid in
their own judgment, or because from
memoranda or verbal directions left by
me or from other sources they are
satisfied that it would be my wish to
have paid"
The disposition of the estate then
follows, the first provisions being those
for his own family. To his beloved
Wife Frances Louisa Tracy Morgan,
the income for life Of a trust fund of
81. 900, 900 with power to dispose of the
capital by will. Mr.. Morgan explains,
Il give my wife this power of DISPOSE
lion in order to enable her to make
such legacies as she may desire to
her relatives or friends or for char
ity."
Mrs. Morgan is already entitled to
the income of a trust fund created by
Mr.. Morgan's father by deco dated
July l, 1867. This will provides that
she is now to receive for life the in
come of an additional trust of such
amount hat her total income from
these two trusts shall aside from the
income from the 81. 600, 900 fund.- amount
to 100000 a year. Mrs. Morgan also
receives during her life "Cragstone,"
the Morgan country place at Highland
Falls, N. Y, and also the Morgan
home on Madison avenu New York,
together with the furniture, paintings,
etc, Except family portraits) in both
houses. The taxes and insurance upon
both these pieces of property are to
be paid during her life not by Mrs.
Morgan, but by the estate.
The next articles of the will are de-
voted to Mr.. Morgan's children. His
son, j.. p. Morgan, Jr., receives an
outright legacy of s3,ooo,o 900. His two
married daughters, respectively,
Louisa, the wife of Herbert L. Satter-
lee, and Juliet, the wife of William P.
Hamilton, receive each the income for
life from a trust fund of SO, 1000, 900.
Upon the death of these daughters, the
funds go to their children, but each
daughter is given power to dispose of
said sum of SO, 900, 900 by will among
her issue in such shares of proportions
and on such lawful trusts as she may
think proper"
The third daughter. Miss Annie
Tracy Morgan. likewise receives the
income from a trust fund of 5000
600 and in the event of her marriage
and having heirs the same provisions
hold good as apply to her elder sisters.
In case of her death without children,
she may hequeath to her husband out
Of the trust FUND 81, 600, 900.
MT. Morgan's two sons-in-law, Will
liam p. Hamilton and Herbert L. Sat-
terlee, receive each an outright lega-
cy of N,@o,oOO. A special provision
FOR his son, J. P. Morgan. Jr., is that
all my right, title, and interest as
patron or fellow in perpetuity in the
metropolitan Museum of Art in the
city Of New York and in the American
! Museum of Natural History in said