The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-05-16
too HEAVY 4 BURDEN
ON TRUSTEES AVOIDED
How Americas Greatest Fsnancier
Made Provision for the Adminis-
trasion OF His Estate.
Proyiso Attached TO Remarkable Docu-
ment Permits Son and Other Mem
bcrs. OF Family as Executors to Turn
Over Work TO Truss Company.

Pride of family. rrndence mani
tested in the minute direction as to
the dispoai OF hts very large estate,
and compelling sense of response
biiity concerning those things which
are heavenly. are the distinguishing
elements of the will of J. p. Morgan.
The attention of the business men Cd
the country In general, and more espe-
cially the inertest of the bankers, how
ever, heve been focused on one Of
the features of this remarkable man
very notable last testament. which
seems to have been product of his
second and perhaps, his more refiec-
tive Judgment. TWAS quito natural
that man, to whom family tradition
and descent were so dear. should en-
trust the carrying out of his specifically
expressed wishes to his son and 10 9TH
er members of his family. yet one OF
the after provisions OF his will has
q very significant section which is
illustrative. not alone of the perfect
confidence that can be reposed in a
trust company. but which demon
strates that one OF the most prudent
and astute financiers of his era re-
sorted to trust company proviso. as
IL to chnch. hind and cement carefully
planned and explicitly stated author
lily vested in his will. This notable
section reads as follows:
Notwithstanding the foregoing pro-
vision that there shall always be three
executors and. trustees under this my
will, II at any time my said executors
and trustees shall be unanimously OF
opinion that IL 10 better for the in
terest OF my estate that q trust COM
pany In the city Of New York. au-
. y. ,%{w <xA L. - - nhu
be appointed sole trustee under this
my will, either OF all or OF any one or
more of the separate trusts herein es-
tablished. then and in that event !
authorize my said executors and trus-
tees. by a proper instrument In writ
ing, executed by all Of them, to ap-
point such trust company rs they
shall select to be sole trustee OF any
one or more of the trusts under this
my will, and hereby give and grant
unto such trust company ana unto
each and every individual who shall
be appointed as above provided sue
cessor to either OF my said executors
or trustees. all the rights. powers and
authority. discretionary or otherwise.
In this my will given to or conferred
upon the executors and trustees here
in named"
WIN Have Great weight.
Familiar with the uncertainties OF
life. cognixant of the inevitable inter-
vention OF death. Mr.. Morgan in this
apparently supplemental paragraph
summed up the total OF hts business
experience In 10 far IN II related ia
tho disposition of estates by will. II
the executors and trustees fir ,tirefr
Combined Judgment and wisdom, de-
eide that a trust company can better
administer this estate, then such o
course may be pursucd---and evident
ly with assurance that the greas
banker himself was not willing 10 say
such course would not be tina he :
ter. This Ii the meaning OF the para
graph. which may be no more than a
suggestion, but that 1t will have great
weight with his executors and trustees
cannot be doubted. No more con-
vincing testimonial to the value Of
tEuAt Scampanies can be devised than
this brief section from i win which
disposes Of one OF the conntry's larg-
sest estates. BenefaCtions. practically
tn pespetaity. are Included, Intricate
proytslons are sets forth. problems "a
test iexal minds ere involved; ana. al
IthQpgh re6lislng that the task may
pxQVe TOO x1lak M ~ lfnS x0Y In.
l!lI II