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

l.
he will be able, in such manner as he
shall think best, to make permanent
disposition, or from time to time to
make dispositions of them or of
such portions of them as he may de-
termine which will be a substantial
carrying out of the intentions which
nave thus cherished. 1t would be
agreeable to me to have the Morgan
memorial which forms a portion of
the property of the Wadsworth athe-
naeum, at Hartford, Conn, utilized to
effectuate part of this purpose. I
do not, however, by the expression of
these wishes, intended to impose upon
my said son or my said grandson any
duty or obligation, legal or moral, nor
to qualify in any manner or in any
degree his absolute and unqualified
ownership of said collection should
they pass to him under this will"
The public charitable bequests are
as was predicted by many of those
conversant with his immense bene-
factions made during his lifetime,
comparatively small and in the di-
rection Of those objects to which Mr..
Morgan's benefactions are already
we'll known. For instance, in the case
of the great lying-in hospital in New
York, to which Mr.. Morgan gave over
million dollars, he uses the follow
ing language:
without imposing any duty, trust
or obligation upon. my residuary le-
gate / request he continue, SO long as
in his judgment the same shall be
necessary for its support, the same as
sistance giving during my life
time to the Society of the Lying-in
Hospital Of the city of New York.
This annual gift here alluded to is
known as having been 100000.
1t is worthy of note that the will
was executed as late as January 4
last, and codicil was attached on
January 6, only the day before Mr.
Morgan took leave Of America on the
trip abroad, from which he never re-
turned. The document begins with
the religious utterance which has al.
ready been quoted. Article III provides
that his body shall be buried in the
family burial place prepared by my
father in Cedar Hill Cemetery al
Hartford, Conn.," and that the same
simple funeral arrangements adopted
in the case Of his father shall be car
ried out in his own case.
Article III directs the payment OF
his debts, funeral expenses etc, anl
then gives to his executors the fol.
lowing: Full power and authorit,
to recognize and pay as among such
debts any promise or obligation made
by me, verbally or otherwise, which
although not in such form that the
holder could compel payment there
OF by my estate, my executors think
proper to be paid in their own judg.
ment or because from memoranda OF
verbal directions left by me or from
other sources they are satisfied thai
1t would be my wish to have paid"
The disposition Of the estate ther
follows, the first provisions being those
for his own family. To his beloved
wife, Francis Louisa Tracy Morgan
the income for life of a trust fund
of one million dollars, with power to
dispose of the capital by will. Mr.
Morgan explains that Il give my wife
this power Of disposition in order to
enable her to make such legacies as
she may desire to her relatives OF
friends or for charity"
Mrs. Morgan is already entitled 70
the income Of a trust fund created by
Junius Spencer Morgan (Mr. Nor
gan's father) by deed dated July 1,
1867. The will provides that she is
now to receive for life the income of
an additional trust of such amount
that her total income from these two
trusts shall (aside from the income
Of the one million dollar fund.- amount
to 100000 year. Mrs. Morgan also
receives during her life "Cragston,
the Morgan country home at High
land Falls, y. Y, and also the Nor
gan home at No. 219 Madison ave-
nue., New York, together with the
furniture, paintings, etc, Except fam
lily portraits) in both houses. The
taxes and insurance upon both these
pieces Of property are to be paid dur
ing 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. John Jierpont Morgan, Jr.. re-