New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-03-24
Estate Divided Into S Trust
Funds for 3 Sons and
2 Daughters
u. S. and State Taxes
Placed at $13,736,OOO
Free Hand Given Trustees
In Disposal of
Holdings

HOlO1ngS
The Will OF James Stillman, chairman
Of the board of directors of the Ma
ticnsl City Bank, who died on March
IS. was filed yesterday It disposes of
an estate estimated at from $4,000 900
20 s50,OO0,0O0. Mr.. Stillman executed
his will on December 81 last He left
his entire estate to members of his
family.
On the s5o.OOO,0O0 basis the Federal
lax or the estate will amount to SILL
900 and the New York State trans
fer tax to s2.o14.ooo.
With the exception of certain per-
Anal property the entire estate is d.
yided into five trust funds, the three
sons OF the testator-James A. Still
man. Charles Chauncey Stillman and
Ernest G.. Stillman-being the chief
trust benefciaries. each receiving one
share of the residuary estate, which
comprises the bulk Of the great fort
une. The sons also are made contin-
gent remainder men of other trust
funds created in the will.
Daughters Get Trust Funds
Two trust funds, each Of $500 900,
ere created for the daughters of Mr..
Stillman-Mrs. Elsie G. Rockefeller,
Mrs. Isabel G.. Rockefeller, wife of
time the tirancier gave literally to his
daughters of his personal property and
real estate.
Il have already given large sums of
money to my two daughters, Elsie G.
and Isabel G. Rockefeller" his will
reads. Il direct that no charge be
against their portion of my estate by
reason thereof. / also direct that any
real or personal property heretofore
conveyed or advanced by me to my
said daughters shall be considered as
gifts and not as advances"
In the case of the trust funds Gre
ated for the sons, from which they will
receive the income for life, the income
on their death is to pass to their chill
drcn, their iineal descendants in turn
funds. Thus Mr.. Stillman provides in
his will for his children, grandchildren
and grandchildren
Trustees Get Free Hand
Mr.. Stillman provided that each of
his daughters is to receive the income
Tor life from the $500, 900 trust funds
created for them. On the death Of
either or both, wo-sevenths-$1.0 OO,-
no 70 %ta
descendants of either or both daugh-
ters in such shares as the daughters
may direct by Will. The remaining
tive-sevenths, or $4,000, 900, in each case
IS to be disposed of by the payment
OF the income Of one-third of the funds
20 each OF the three sons Of the tesla
tor if there are no descendants.
Mr Stillman named as trustees of
the several trusts, his brother, Charles
Stillnlan, two of his sons, James A.
Stillman and Charles Chauncey Still
man. and mis- lifelong friend, John W.
Sterling, who also is attorney for the
discression in their handling of his
estate. even to the classes of invest
ments that may not be of the charac-
Ter permitted for trustees investments
by the ordinary rules of law" As to
MS large holding of National City
Bank stock, Mr. Stillman said: at is
my opinion, and I have a long time
considered this matter, that it would
he wise for my executors and trustees
% retain substantially all the stock of
the National City Bank of New York
which l may own at the time of my
decease, and not sell the same during
ny will; but that whenever they deem
: advisable to sell the said stock they
should do so, if possible, in one block. -
Mr.. Stillman made it clear, however
hat this is to be considered by the
-rustees only as a suggestion, and is
OF intended as a restriction en- their
freedom of action.
100000 in Real Estate
owned by Mr.. Stillman has value OF
about s5,ooo,ooo, while his personal
state will appraise at something less
than s40,000,000. In his home in
France he had collection of paintings
and other works Of art valued at more
than 100000. Included in this col
lection is a portrait Of Mr.. Stillman
by Won Kaulbach Mr.. Stillman was
long a patron Of art. and several years
ago he gave 100000 to the School of
Fine Arts in Paris. Also, while there
are no public requests in his will, Mr.
St;llman during his lifetime was a
'arge contributor to public benefac-
tionE. He also was the purchaser of
large number Of Liberty bonds, the
amount Of which he bought having
been said to amount to as much as
$4,000 900 Mr.. Stillman also was a
liberal buyer Of French war bonds
He carried life insurance policies
amounting 10 100000
The estates Of other we'll known men
81 finance have been appraised in the
laet nine or ten years as follows: J
= Morgan, s7s, ,o24; Anthony Y.
nradg. 81 ,o42 .433; John S. Kennedy,
-. .ly7,1T35. and Edward H. Hartman.
's,oo 800. The eg.ate Of Colonel
49, Jacob Astor was appraised at
ILL., 28.