The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-04-23
VAST PARKER ESTATE
WILL REMAIN INTACT
Hawaiian Trust To Be Perpetuated Under
Terms Of Settlement Just Made


for caring for the child win be such
allowance as the court shall fFom time
to time make for the purpose out Of
the child 8 estate. >.-.-,,t -sl.3t
Income Placed In Trust
'fBy anothei agreement Mr.. Smart
places in trust with the. Trent Trust
Company, Limited, one fourth Of the in
come left him by his late wife's win
This amount is primarily to be used fof
the support and maintenance of the
child until he reaches the age Of TWEEN
ty years. In the will of Thelma Par
ker Smart subject TO certain specific
baquests, the income and principal OF
the estate is given to Mr.. Smart with
a request 70 give two-thirds Of the in
c6me TO Richard after the latter mr..
riyes Mt his majority. This request Mr.
Smart has stated by affidavit he re-.
CARDS as Of a mandatory nature, nj
slough counsel for Mrs. Knight, and
Mr.. Olsen were doubtful as TO such
construction or as to its binding effect
BY the compromise Mr.. Smart has con
veyed to the trustee mentioned for the
benefit of the child two-thirds Of the
income from the time the child arrived
at .his majority, until Mrs. Rni.ht's
death He has also conveyed to the
trustee for the benefit of the child
two thirds Of the Parker Ranch prop
erty, the conveyance to take effect
upon Mrs. Knight death. This will
carry with it two-thirds of the incom,
after Mrs. Knights death. Under the
trust deed, too, if the child dies be
fore it reaches the age when it coulc
lawfully make a will, one.half Of the
ranch property will upon Mrs. Knights
death, 60 to her nominees, and the
other half be retained by Mr.. Smar,
unless the child Richard, dies leayin
issue, IN which event it will 20 to the
issue, and the remainder be retained BY
Mr.. Smart. ....l 7'g t.t VIZ 4
'iUnder the plan of compromise the
administration proceedings instituted
In this circuit by G.. II. Olson as next
friend of the child, and the proceed
ings instituted by Mrs. Knight for
the probate Of the second win, viii
both be dismissed. The guardianship
proceeding commenced by Mrs. knight
, in the Third Circuit before JUDGE Mat
thewman was dismissed by consent last
Monday for lack Of jurisdiction. 2.
Carter Remains As Trustee II e..
nAs part of the compromise Mr.
Alfred w. Garter, who is trustee Of the
Parker ranch property, under deed
of trust formerly executed by Thelma
,, grants to Mr.. Smart, Mrs. Knight, an6
the child Richard, the right at all times
to reside at the house and place known
as 'Puuopelu' on the Parker ranch and
the right to ranch products free OF
eharee for household use as heretofore
ftThe child Richard left for the
Coast. on the 'Lurline' last week ir
the care Of Mrs, Lemon, who has beer
tnotified by wireless today Of the con
clution Of the compromise. mr. '..i
"1he agreements, or at least soms
of them, that go to make up the com
PROMISE, are long and complicated but
the foregoing states in substance tho
main points of the settlement.
~-"FREAR, PRossER, ANDERSON
..| - & MARX ,-a5>"
p. ..tr ..,-(Signed) ,h s,.se.r
"THOMPsoN & MILyERToN."
Custody Of Child Settled
In brief the compromise provideI
that Mrs. Elizabeth J. knight shall
have the guardianship OF Richard
SMART the minor, until the child he
comes the age Of sixteen years. II
the meantime the father remains th'
legal guardian and with his erelatlyeI
shall have the privilege of visiting
/ the child at. pleasure. 1t is furthe
agreed that the child snail BE laugh
to respect its father. 81
The court is to Ak fee for Mrs
Knight for caring for the child. lie
income as provided in the origina
trust shall remain at $l50y per month
The original trust which provide,
for an income of $4,000 per mouth TO
Mrs. Smart, will apply in the saEe q
Smart. This means that he will re
ceive $4,000 per year from tn
estate. "f-ra'@.a s,-
Upon the demise Of Mrs. Knight tn
estate is to be divided, two thirds I,
the child and one.third to tho fathe,
When the child reaches the age o
/ twenty years, and if Mrs. knight I
living at that time, he shall reeeiv
two-thirds of the income. In tn
meantime he is to receive one,fourtl
him by the Trent Trust Company.
| AhTtu W. NdFteT 10 70 cOutluue
manager Of the estate, Henry Gaillar,
Smart to act as executor Of the. will
without bond. - ~. d
Provision is made that in the even
of the death of Richard Smart and h
is survived by children they are to re
ceive two.thirds of the estate. If tn
child dies before reaching the age O
eighteen years Mrs. Knight will hav
the privilege of directing the disposi
ton of one-half the estate.
Expenses attendant upon the litigs
tion over Mrs. Smart Is will are to b
met from the income of the child.
All the requests made by Mrs. PaI
ker in her last will are to be carrie
out. .".I D..
The fees of counsel and Others Il
connection with the litigation are I
be mutually agreed upon.
What Estate Embraces
For the past three years or more tn
Parker estate has been under the di
rection of Alfred w. Carter and ha
Increased in value considerably. A
the time of the inventory; the propert
comprised chiefly the ranch of Wal
mea, Hawaii, consisting of 1882
acres of land stocked with twent
thousand head of cattle, two thousan