New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-12-07
Frick Leaves $I20, 600, 900
For Public Purposes

al shall not be needed for the above
mentioned purposes to the use, share
and share alike. of my said wife. Ade-
laide "A. G. Frick; my daughter. Helen
u frlck, and my son, Childs Frick. or
aach OF them as shall from time to
time be living "
Provides for Care Of Property
and upon the incorporation of the
said institution, in further trust Ia
convey, assign, transfer and deliver,
! the said trust fund unto the said corr
poration hereinbefore directed to be
formed and to be known as The Frick
Coilection,' the same to constitute and
form permanent endowment fund for
such corporation, and the income Of
such endowment fund to be used for
the maintenance, care. protection and
support OF said gallery Of art and the
personal PROPERTY therein contained,
and the making Of any alterations, i'm
provements, additions or bettermen ts
in or to said premises, and any sur
plus OF such income to be expended
from timc to time as the directors,
trustees or managers Of said corpora
ton may determine in the purchase of
other suitable works OF art to form
part Of such gallery Of art, and any
other corporate purposes of said cor
poration.
$50 long. however, as the estate In
my said dwelling house and lands de-
vised to my wife in and by the first
section Of this article of my will shall
continue. the, said corporation shall
apply so much of the income Of said
endowment fund as shall be necessary
to the payment of the taxes, assess
ments, insurance, repairs and upkeep
of my said dwelling house and
premises and the maintenance, preser-
walton and protection in said dwelling
house of the articles of personal prop
erty contained therein and herein
before bequeathed to said corporation.
Broad Powers Given
1T is my wish that said corporation
shall, in respect to its said endowment
! fund, have the like broad powers and
discretion of investment as are herein
before in this section conferred upon
the trustees herein named.
II direct that the trusts created by
the third section and by this present
fourth section of this article Of my will
shall take effect as of the time of my
death, and to that end I direct that my
executors shall, as soon as may be af-
ter my death, put the said trustees
personal property specifically be-
queathed to them in and by said third
section, and that the said sum of $15,-
900, 900 bequeathed to said trustees in
and by this fourth section shall be
transferred to them as soon as may be
after my death, and until the same
shall be so transferred I direct my
executors to pay to said trustees from
my general estate interest upon said
sum of 100000 at the rate of four
ca per cent per annum, as represent
fund would have earned in the hands of
said trustees.
Trustees Not Liable for Loss
Neither my executors, nor the trus-
tees of the temporary trusts created by
the third section and this fourth sec
ton of this article of my will, nor the
said corporation, shall be under any
obligation to cause the works of art
of my will beQueathed to be insured, or
be liable for any loss or injury to the
same.
If any Of the persons named as trus-
tees in the third and fourth sections Of
this article shall die before me, or shall
fail or be unable to accept the trusts
thereby created, it is my will that such
of them as shall survive me and shall
accept said trusts shall. acting by a
majority, appoint proper persons to fill
all vacancies thus accustomed; and if
thereafter and prior to the termination
of said trusts by the transfer of the
trust funds and property to said cor
poration, any trustee shall die or re-
sign or become for any reason unable
to perform the duties or become for
any reason unable to perform the
duties Of said trusts, the surviving or
continuing trustees shall, acting by a
majority, appoint proper persons to fill
such vacancies, to the end that said
trustees shall at all times during the