New-York tribune., 1919-08-23
This Sum Is About Three
Millions More Than Was
Expected by University at
Time His Will Was Filed
Appraiser Files Report
larger Part of Fortune
Gone to Charity; Trans
fer Tax Will Be Small

Vale University will receive approx
,,a.ely s1s.oOo,oOo, about s3,oeo,Ooo
!, excess of the expectation of the
un;versity corporation, from the
.s,ste Of John W. Sterling.
Mr.. Sterling. member of the law firm
>. shearman & Sterling and prominent
!, the financial and social life of New
York. died on July 5, 1918, in his
.syenty-fourth year. Anthony P. Lud-
ian. state transfer tax appraiser, filed
NJ, report yesterday on the Sterling
.sta;e in the Surrogates' Court. 1t
;ets forth the following valuations:
Stocks. bonds, mortgages and tangi-
he personal property. sls,251, 500; real
ss,ste. about Sl.746.764; cash in bank,
:ss7,s2a.
No actual appraisal of the estate
VAS made, because the residuary estate,
which is the greater portion of the
total. passes TO Yale University and Is
exempt from taxation, while $780,
400 goes TO the Osborn Memorial Home
Association for the purpose of found
ue home for aged women, which
also is non taxable.
Mr.. Sterling, whose bequest to Yale
was. as the appraisal now reveals, the
second largest ever made in the in
:erest OF science, was bachelor.
Origin of Home Bequest
The first 500 600 for the establish
nsnt Of the Osborn Memorial Home AS
sociatior home was left to Mr.. Sterling
IN the will Of Mrs. Charles J. Osborn,
sfter whom the institution is named,
which she left to the jurist as token
Of esteem. Mrs Osborn wrote the cod
;cil herself in 1883. She died in 1891
Mr. Sterling was unwilling to accept
the bequest. and set aside the amount
ior the purpose his own will makes
possible.
The property passing to the Osborn
Home Association includes the 100000
eft BY Mrs. Osborn. 100000 in stocks
end bonds, ana about 6S1 acres in r e..
y. Y, and Harrison, \. Y. The bonds
set aside for this purpose amounted to
$4,000. the other securities being thu
following shares Of stock: Northern
Pacfc common. 1000 shares: Great
Northern common, 957 shares; Union
Pacific common. 800 shares; American
Cities preferred, $40 shares and Erie
preferred, $50 sharees.
Mr. Sterling also provided, in con-
nection with the gift to the Osborn
home, for the erection of building
IN memory OF his mother. He also
provided that S250.000 was to be used
10 erect building IN memory of Lady
annie Charlotte Stephen, first wife of
Baron Mount Stephen, who was presi-
dent Of the Canadian Pacific Railway,
at whose place in Grand MATHS, Quebec
Province, Mr.. Sterling died. This
building IS to be used for the care
OF INDECENT Scotch women or women
Of Scotch parentage. Another $3.50
900 was bequeathed for q building in
memory Of the wife and mother of
Lord Strathcona. former High Commits
soner for Canada. Baron Stephen was
e friend of Mr.. Sterling from young
manhood. and Lord Strathcona was also
his intimate friend
viii Pay Small Tax
Although the major part of the
s.erlng estate will not pay a tax, it
will have 10 pay about $3.50 900 that
became due IN the lifetime of the tes-
lator and on which payment was with
held durisg q test IN the courts of the
pond tax law. Which was sustained.
The personal requests made by Mr..
Sterling We're Miss Cordelia Sterling,
sister, life interest in 100000 trust
ana personal effects valued at $1,000;
Mrs. Catherine u. Bunnell, sister, life