New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-06
Merchants Will Also Pro-
vides $4,000 Income in
Lieu of Dover.
BUSINESS TO BE
KEPT IN FAMILY
Sons-in.LaW, as Executors, Are
to Incorporate Firm at Termi-
nation of Partnership.

The will Of George Arnold Hearn,
senior member Of the drygoods firm Of
James A. Hsarn & Son. who died Mon
day, was filed yesterday IN the Surro-
gates Court. The great art collection
of the merchant who was well known
patron of the arts. is left to his widow,
Mrs. Laura Frances Hearn.
The will gives Mrs. Hearn the power
10 sell the works of art, and provides
further that if not sold in the lifetime
of Mrs Hearn they are to be sold AFTER
her death.
Mr.. Hearn also left TO his wife 49,
600 a year income for life. which shah
he in lieu of dover interest in the es-
tate. 1t is provided that if the widow
accepts this arrangement, the income
shall he paid from moneys 10 the circuit
of MIR Hearn with James \. Hearn ~
Son and from certain real estate.
II seems assured that Mrs Hearn VIII
relinquish her dover rights and accept
the will as it stands, for. according TO
reliable authority. her income under the
will is in excess OF any such rights
which might come 10 her by dover
Mrs. Hearn is also to have the life use
OF the Hearn home at No. IS East 6sth
street and all it's contents. with the eN-
ceptjon of the books. which Mrs. Hearn
IS 10 apnortion between two grandsons'
Donald Hcarn Cowl and Arthur Hearn
Cowl.
Mr.. Hearn made provision in his Will
which will insure the business LETT py
him remaining I'm the family. He LETT 10
his daughters. Mrs. Mary s. Greims ana
Mrs. Alice Schanck. II they are llNlhe
March /. 1916, each 1920 shares of'the
Goodwill. fixtures and prescribed capital
of the concern.
To his daughter Mrs. Caroline cow
Mr.. Hearn left 1850 shares. with the
request that she devote such portion OF
the income OF such shares az she may
deem judicious for the maintenance OF
the two grandchildren and also estap-
lish them in business.
Mr.. Hearn also gave IN Mrs. Govt the
properties Nos. 10. -, 16, IS, 20, - ~
d and 20 West 18th street and Nos. 81
and 81 West 18th street. The income
from these properties is TO he paid to the
three daughters NJ Mr.. Hcarn. Mrs cowl
is given power to dispose Of these prop
critics In her will.
Mr.. Hearn directed his executors to In
corporate James 4. Hearn Son ana CON
duct the business in the same premises as
At present.
To his sons-n-law, Clarkson 'owI'
George F. Schanck and Herbert :. Grelms'
permission is given 10 buy shares oi STOCK
IN the corporation AZ 10 In proportion ~
they may have shares in the copartner-
shin on February IS. 1915. The sons-in-
law also are executors. and are 10 receive
specific payment Of $4,000 each IN h'u
Of their legal commissions.
Mr.. Hearn gave his three daughters the
further legacy Of the apartment house
Nos. 81 and 80 West 18th street George
Bailey Wheeler. husband Of the latt Mrs.
Grace Wheeler. another daughter. re-
ceives $4,000. and Bridget Kcarny' FOR
many years "a valued and faithful mem
her of my household, receives 1900.
The residue Of the estate is left 70 Mrs
Coul. Mrs Schanck and Mrs. Greims ana
then TO their issue.
In an editorial. entitled "a Unique Col
lector." THE American Art News says
that George A. Hearn made provision III
q letter 20 tho trustees Of the Metropoli-
tan Museum Of Art in 1910 that II, after
his death. any Of his art gifts was judged
as u3authentic by competent authorities
they should be- replaced by authentic and
better ones from funds h" left for That
r,,rpose What other collector II l.
added. has thus been willing to ADMIT
the chance OF error in his collecting and
10 suggest revision Of his Judgment
This action alone IL a monument to the