The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-15
SNUBBED AT CLUBS
FOR FIGHT ON WILL
Talbot J. Taylor Tells Of At
tack Made on Sanity Of
Late John Wallace.
RELATIVE OF VANDERBILT

Talbot ]. Taylor. head of the broker
aRe house of Talbot J. Taylor n Co,
was severely criticised by fellow club
members and associates on the New
York stock Exchange, according TO MS
own admissions yesterday in the Su-
preme Court settlement of the Allen
Wallace estate.
He said they r. sented the attack ne
made on the sanity of the late John
Wallace. a former member of the stock
Exchange. in order to break Wallaces
will for the benefit of Mrs. Allen wal
lace. his daughter-in-law. and her six
year-old daughter. The Will was SET
aside through waivers of Interested
parties and Mrs. Wallace ami her
daughter will get "A S750.000 trust fur
which John Wallace tried to prevent
Mrs. Wallace from sharing.
Everywhere | went on the exchange
friends asked me what | was trying to
prove John Wallace a lunatic for. and
had to defend myself even In the clubs.
TAYLOR testified. zone day l went to
the RACQUET club and Dan Worden
wanted to know what | was to get out
OF the thing.
at was that way also in the Union
Club, and for n long time | could not
no into the clubs, but all this time | was
busy in the lawyers office going on with
the fight. We won after many pro-
tractci hearings"
Taylor's testimony was disclosed
when supreme Court Justice Shearn
passed upon the report of John Quinn.
referee. as to the allowances to be made
20 Taylor Mrs. Wallace a. "A COM
mittee OF the estate of Allen Wallace.
lie die a short time x in Italy after
having been adjudged an incompetent.
Allen Wallace. son of John Wallace,
was a graduate of Harvard and a ~ M
Der of several clubs. Through his
paterna1 grandmother he was related
60 Commodore Cornelius Vanderbilt.
He Incurred his fathers displeasure by
his marriage and the elder Wallace
made a will in which he provided that
his son might have the income from
S750,000 for life and dispose of the prin-
cipal II he survived his wife. II the
wife survived the will provided the
money should go TO other relatives and
eventually to the Cathedral of ST. John
the Divine and to st. Thomas's Church.
The will also declared that my con
Instant should forfeit the share that the
contestant might receive under the will.
After Allen Wallace was adjudged in
nina AAbS wiz anu a ~ aB-
pointed a committee of his estate there
was a conference to decide on the plan
q keep the $500 00 in the Wallace fam
fly in the event young Wallace pre-
DECEASED his wife.
Taylor testified before the referee:
"For twenty-three years John Wal
lace and | were the closest friends. We
saw each other every day. We lunched
together. i knew him as a strong willed
man-one of the strongest in Wal
Street. | knew him to be a man of the
strongest prejudices and when the terms
OF his will were disclosed felt he had
made an unjust will.
II talked with Mrs. Wallace man,
times about the will and finally had 2
conference with George Gordon Battl,
ana decided TO take step TO break tn,
will. Before the papers were filed,
went to see Michael Bowler, one of IN,
Dig men in Wal Street, and our mutua
friend and an executor of John Wallace.
will.
He was surprised and angry wher
nc heard OF the contemplated action
lie advised me against II. but l told
him no man knew bettersthan I did IN,
violent dislikes and prejudices OF Johr
wallace. That not only ended our bust
ness relations. but our friendship"
The referee recommended that Mrs
Wallace and Taylor be allowed $685. 90,
additional fees for their services II
caring for the Allen Wallace estate
which amounts to s749,7 2S. Judg
shearn clipped the extra allowance. II
refused TO let Mrs. Wallace have IN,
extra sl2.500 recommended for her o
10 let Taylor nave more than SIS .OO
o. the s22,5O0 extra allowance recon
nended for him. The regular allow
ance of each mounts 10 81 7eI On,
this was approved.
1T is true said Justice Shear RI
"that a very difficult situation con
fronted Mrs. Wallace and that bo,
MRS wallace and her relative, Mr.. TIA
Tor. handled the situation with rrea
1udgment and skill and achieved a fin
result FOR the infant, Annie Marie wal
lace" val