The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-04
He Beoucaths Estate, Except
$4,000 Annuities, to Home
for Journalists.
A MEMORIAL TO FATHER
1Herald" and "Evening Tele-
gram Not to Re Sold Unless
Absolutely Necessary.

,roperty. including tho New York
psrald. the Evening Telegram and the
rsris Heroid, to a home for Manhattan
journalists provides that annuities
,os,lling sl53.0o0, OF which $4,000 a
Ear goes TO Mrs. Bennett, shall be paid
"a relatives and friends, and appoints Is
.yscutors with dominant powers Rod
man Wanamaker, Eugene Higgins and
James Stilman
The latter, who was a great fgure in
the financial circles OF the world. having
h,.n president and subsequently chair
NAN OF the board OF the National City
pank. is dead Mr.. Higgins Is in Europe.
Nr Wanamsker remains. therefore, in
this country as the master OF the des-
TIMES Of the Bennett newspaper proper
lie, and from him are expected to come
details OF the remarkably interesting
project the late Mr.. Bennett moulded TO
he a memorial to his father and the
Bennett name.
This project he set forth clearly and
completely in section 20 of the will.
which was signed by him on November
II, 1915, emitting it THE James Gordon
Bennett Memorial Home for New York
Journalists
IOnS EuEpohes
at is my long cherished intention and
purpose" the testator wrote. "apd il is
my will to establish a substantial, ar-
propriate and permanent memorial TO
my father. the late James Gordon Ben
nett founder and for many years the
proprietor of the New York Herald. and
therefore to that end and to effectuate
my said intention and purpose I direct
the executors OF this my will herein
after named. and such of them as shall
qualify and the survivors and survivor
of them and their successors and sue
cessor. as soon as practicable after my
death and during the lives of Isaac Bell
and James Gordon Douglas. and the life
Of the longest liver of them. to cause or
procure TO be Incorporated corporation
10 be named The James Gordon Ben.
net, Memorial Home for New YORK
Journalists in memory OF my father
and for whom the same shall be a per-
manent memorial, the general objects
and purposes Of which corporation
which shall. II possible. have perpetual
existence. shall be to provide and main.
tain a suitable and comfortable home OF
20 provide pecuniary aid for persons
who shall have been employed for a,
least ten years upon or by or in connec-
ton with any daily newspaper or Jour
nal which Is now or shall be hereafter
regularly published in the Borough OF
Manhattan In the city OF New York
and who shall by reason Of old age, ac-
cident or bodily infirmity. and through
lack OF means. be unable to care for
themselves or need such home or aid
each of which persons shall be non,i-
rated and recommended for the benefits
OF such home or for such aid by the
proprietor or owner or publisher OF any
such newspaper or journal whether ar
Individual or a corporation) and shall
re approved and accepted by the board
Of directors OF such home in its uncon.
irolled discretion. and which board oil
directors shall always IN the selection
approval and acceptance Of persons Il
receive the benefits of such home OF
such aid give the preference to any per
son who shall be or shall have been EN-.
fioyed by or associated with the New
York Herald Company or the New Yorf
Herald Company Societe Anonyme Fran.
caise upon or In connection with either
the New York or the European edition
a. the New York Herald newspa per OIL
the Ercring Telegram newspaper"
Home TO own Newspaper.
Waving described the purpose and ma
ture Of the memorial Mr.. Bennett ther
willed that his friends Rodman Wanna
maker, Eugene Higgins and James Still
man or such as survived him. should re
oeive the residue of his estate until tn,
homo Corporation should be incorpo
rated and entitled to receive the residue
Then he gave his newspapers to the mo
mortal, writing:
1T is my desire and will that sucl
Memorial Home Corporation shall own
ADD as soon as due administration o.
NY estate shall permit receive. and tina
u Shall hold as long as practicable al
'ne capital stock of the New York Herald
Company and the New York Herald
company Societe Anonyme Francois,
which shall belong to me at my deati
ana FORM part of my residuary estat,
and property"
He provided that the foundation shall
entirely control the administration of tn,
Bennett newspapers. the New Yorl
HTdd. New York Epenin1 Telegram
ma Paris Herald. electing directors b,
virtue Of its ownership OF the stock, anC
'e Wiled that 1t should conduct tn,
business and publication and manage
'nent Of the New York Herald newspa De
IN both its New York and European edi
,ons' and tho Evening Telegram upor
the same principles and traditions an,
WIN the same policy and in the sam,
manner. so far as practicable, as tn,
tane shall be conducted at the time o
my death"
lie requests the directors Of the HERALD
corporations TO set aside so much @
earnings and profits OF the newspaper
snail! provide reserve or surplus fund
sufhcient in their Judgment to provide
,or all possible contingencies of tn
BUSINESS and ito maintain the hIgl
sSSnnard, efficiency, independence ant
Wiue influence of the newspapers pub
Hshed by said corporation. He inserts
sptovlso that the selling price made b.
iV"ered' II necessary: or advertiser!
ehdr'es reduced or production costs In
creased, always having in view thes
oplccts rather than an increase OF ne
future OF the Newspapers.
~ was his wish that Mr.. Higgins. Mr.
"aHamHker and the late Mr.. .Stillmsn
successors to he named by them
rn,ou'd act AS directors Of the Memoria
o'ne and he left to each execute
named the sum Of $4,000 in addition T.
Mhatever compensation each execute
nlsht receive or be entitled to for ser
wees under the will. He exacted M
Sohd from these gentlemen and he trans
tefFed to them the most complete power
tor me control or liquidation OF hi
properties. At this writing occurs
Command bearing directly upon tn
auture of the newspapers:
especially request and charge sail
executors and executor not to sell o
Har' WIN any OF the capital stock OF tn
NV YORK Herald Company or the New
tto'N Herald Company Societe Anonym
f3ancaise unless II shall he ahsoIutel,