The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-04-23

time of my death / shall have been
in the habit Of making regularly to
any person or persons for their aid or
{ support. J. also authorize my said
= executors and trustees in their abso-
Lutte discretion at any time before
they shall have finally administered
my estate as executors TO set apart
therefrOm separate funds to produce
an income for the benefit during life
of any such persons, so that such pay
mentS may thereafter be continued
in the event that my said executors
and trustees shall under all the cir
cumstances, determine that such
would have been my desire and L
give and bequeath unto my executor
each of said sums so set apart, in
trust to collect and receive the in
come thereof and TO pay over the
same TO the person for whose benefit
the same shall have been so set apart
during his or her life. > While
| am aware that the provisions in this
article may not be valid as a matter
Of law, nevertheless, 1 have no doubt
that my residuary legatee will gladly
concur in carrying them out to any
extent that may be proper"
Mr.. Morgan's sentiment for a few
Of his old and intimate friends is
shown in the clause which provides
that there shall be bequeathed ito
each of the members of the Corsair
Club at the time of my death as a
souvenir of myself and as a token of
my personal affection for them. a
piece of silver of the value of one
thousand dollars to be selected and
purchased for the purpose by the exc
: cutors of my will"
When he was on the witness stand
at Washington only a few weeks be-
fore his death Mr.. Morgan made sew
eral expressions going to indicate his
confidence in his business partners.
This feeling is apparently reiterated
in articles in the will, which read as
= follows:
1T has frequently happened that
? securities, real estate and other prop
erty belonging to or connected with
my business firm of ]. p. Morgan e.
Company, and my former firm of J.
: ). Morgan and Company, have been
taken or stood in my name. 1 there
fore direct and empower my said en-
ecutors and trustees to assign, convey
= and transfer to said firms respectively,
Y or to their respective nominee or nom.
inees, any securities, real estate or
property standing in my name which
all my partners of said firms respec-
. lively surviving me shall unite in de-
+, claring in writing to be the property
: of or connected with the business Of
said firms respectively and ais, di-
3 rect my said executors and trustee. to
: accept without question, as EVIDENCE
l of my interest in either of said firms.
and of the business profits and assets
r OF the same such written statements
=. thereof as may be made to them from
time to time by my said surviving
( partners"
By this provision Mr.. Morgan directs
his executors to accept without hesita-
uon any statements concerning his in
terests that may be made by his sur
S viving partners.
Mr. Morgan having provided for his
immediate relatives, various friends.
2 employees, servants, charitable OBJ
. Jects etc, next declares that the resi-
' due of his property shall be bequeath-
2 ed to his son, ]. P. Morgan, Jr., to
$ his heirs, for his and their own use
forever" And the will also provides
: that If j. P. Morgan, Jr., had died be-
fore his father, then young Morgan's
. son, Junius Spencer Morgan. Jr..
would have become the residuary le-
gate
One OF the last clauses in the will
explains that lit is not from any lack
of affection or regard for them that
this will contains no provision for my
sisters, Sarah Spencer Morgan, Mary
Liman Burns and Juliet Pierpont Nor
gan' but only because the property
which they already have makes the
, same seem unnecessary"
The will is witnessed by John NJ
Milburn, lawyer of this city, Edna
Nj. Blackmar, of Brooklyn, and by
Lewis Cass Ledyard, Jr., of this city.
The codicil, which is unimportant,
merely changing one of the bequests
from an outright legacy to life an
nuity is witnessed by Joseph II.
Choate, Elbert II. Gary and also by
/ -nN,ic Gncr L