Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-20
Washington Inquiry Recalled.


Washington Inquiry Recalled.
When he was on the witness stand at
Washington only a few weeks before his
death Mr.. Morgan made several ex-
pressions 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 Sc
curties, real estate and other property
belonging to. or connected with my bust
ness firm of J. P. Morgan & CO. and my
former firm of J. :. Morgan 4 Co, nave
been taken or stood in my name.
Il therefore. direct and empower my
said executors and trustees TO assign.
convey and transfer to saaid firms, re-
spectively. or to their respective nominee
or nominees, any securities, rear es-
tate or property standing in my name
which all my partners of said firms re-
spectively me surviving shall unite in de-
claring I'm writing to be the property OF
or connected with the business OF said
firms respectively, and | also direct my
said executors and trustees TO accept.
without question, as evidence of my IN
terest in either of said firms. and of the
business profits and assets 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 hesta-
ton any statements concerning his IN
terests that may be made by his sur
viving partners. In the following arti-
Gle Mr.. Morgan says:
Il hereby ratify and confirm all my
partnership agreements as existing at the
time OF my DEATH, and he proceeds to
direct his executors to take any and all
such steps necessary to carry out this
provision.
dac1 bat hn
residue of his property shall be bequeath-
ed to his son. John Pierpont Morgan
jr., to his heirs, for his and their own
use forever. And the will also pro-
vides that If j. Pierpont Morgan. jr., had
died before his father, then young Mr..
Morgans son. Junius Spencer Morgan
Jr-. would have become the residuary
legatee.
Provided for Reorganizations.
To his executors already named Mr.
Morgan gives the widest latitude. direct
ing that no security shall be required of
any of them: giving them full power to
sell and convey all property. whether real
or personal belonging to the estate; to
sell securities and reinvest the moneys
held under the trusts of the WILL etc Mr.
Morgans forethought is again shown in a
particular provision the lack of which
often hampers executors in the discharge
of their duties and which. in this case
authorizes the Morgan executors within
theeir discretion to join in and carry out
any plan of reorganization in which any
of Mr.. Morgan's securities may be con-
cerned.
Mr.. Morgan has made douby sure that
each and every bequest that the will sets
forth shall be paid in full without any
deduction by providing that "All inheri-
tance, legacy. succession or similar duties
or taxes which shall become payable in
respect to any property or interest pass
] may hereafter execute, shall be paid out
of the capital of my residuary estate
Trust Incomes Due at Once
Mr.. Morgan sees to it, Furthermore, that
the specific beneficiaries under the will
shall in no case be obliged to wait for
partial settlement of the estate; for the
says, Il direct that the income of all
trusts and annuities created or given by
this will shall be deemed to accure
for the benefit of the beneficiary or the
annuitant from the date of my DEATH =
and the article further provides that
actual payment of such accounts, etc,
shall be made by the executors at once.
One Of the last clauses in the will eX-
plains that 1t is not from lack of affec-
ton or regard for them that this will con-
tains no provision for my sisters, Sarah
Spencer Morgan, Mary Lyman Burns
and Juliet Pierpont Morgan, but only be-
cause the property which they already
have makes the same seem unneces-
sary.
The will is witnessed by John G. Mil
burn lawyer OF this city; Edna NJ. Black
mar of Brooklyn. and by Lewis Cass
Ledyard, jr.. of this city.