The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-04-21
INTEREST IN MORGAN WILL, :.
CENTERS Ml1S ACTUL Value
Continued from Page ~
Executed january 4.

lections. in my lifetime, they will pass
to my son, John Pierpont Morgan.
Jr., or to his son Junius."
Executed January 4.
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 re-
turned; The d~oestnents begins With
the religious utteraAnce which already
has been quoted. Alticle II 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 adopted
m the case of his father shall be a r
ried out in his own case.
An unusual clause follows, showing
pie who have been near him in his
daily work. This clause reads as fol-
lows:
ITO each of the employees at the
time of my death Of my firm of J. p.
Morgan & Co.. OF the city of New
York. except Charles w. King, above
named. an amount equal to one years
to each person who shall survive me
who was at h time of the dissolution
OF my firm of ]. S. Morgan & Co. of
l.cndon. and employe thereof, an
amount equal to n years salary OF
such employe at the time of such dis
solution" The old firm Of j. S. Nor
gan & Co. was several years ago sue
ceeded by Morgan, Greenfell & Co.
Il ais authorize my said executors
and trustees in their absolute discre-
ton at any time before they shall
have finally administered my estate
as executors, to set apart therefrom
separate funds to produce an income
Tor n benefit during the life Of any
such persons. SO that such payments
may thereafter be continued in the
event that my said executors and trus-
determine that such would nave beer
my desire. and / give and bequeath
unto my executors each of said sums
TO set apart. in trust to collect and
receive the income 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
ne. While I am aware that
the provisions of this article may not
De valid as a matter Of law, never
theless I have no, doubt that my resi-.
duary legates will gladly concur in
carrying then out to any extent that
may be proper"
Get Money in Full.
Mr.. Morgan has made doubly sure
that each and every bequest that the
vii! sets forth shall be paid in full
without any deduction, by providing
that ''all inheritance legacy. success
sion or similar duties or taxes which
shal become payable in respect to any
property or interest passing under
my will or n codicil which 1 may
hereafter execute. shall be paid ont
Of h capital of my residuary es-
Mr.. Morgan sees to 1t furthermore
that the specific beneflciaries under
the will shall. in no case, be Obliged
to wait for partial settlement Of the
estate; o he says:
Il direct that the income Of all
trusts and %annu:ties created or given
by this will be deemed to accrue for
the benefit OF the beneficiary or the
a1nuitant from the date. of my DEATH"
and article further provides that
actual payment Of such ACCOUNTS, etc.
shall be made by the executors at
once. -
Ono OF the last clauses in the will
explains that ut Is not from any lack
Of affection or regard for them that
this Will contains no provision for
my sisters. Sarah Spencer Morgan,
Mary Lyman Burns and Julia Pier
p0nt Morgan. but only because the
property which they already have
makes the, same aeem unnecesaarvV