The evening world. [volume] (New York, N.Y.) 1887-1931, 1919-08-20
WILL DIVIDES
LAST S5O,OOO,OOO OF
HALFDILlION FORTUNE
Continued from First Pase)

F1ToL EhktsJ
Carnegie and she went on his list for
a substantial sum for life.
A thousand odd deposltors OF the
defunct Carnegie Trust Company,
which went to the wall. while some
OF its officers went 10 Sing Sing. re-
ceived from Mr.. Carnegies private
parso the entire amount OF the money
they lost through the wreckins Of The
institution. He had no connection
with the company. II was organised
by men who did not know him apd
some 1000 depositors were ruined
when the trust company was closed
by the state Banking Department.
At the timo Of the failure the gross
liabilities were in the neighborhood
OF eio.Ooo.0oo Allowances subsequent-
" brought the claims down until the
maj statement showed liabilities OF
te,s6s,Ooo. Exactly a per cent. has
been paid against this sum and IS
per cent. 10 stin owed on account OF
bhe liabilities.
CAHNEGfE ADVANCED t2,o0OQ0o
TO HELP COMPANY.
Before the smash came Mr.. Carne-
gle advanced 100000 10 the officers
OF the company simply because ne
could not bear 20 see anything with
his name fall. But the men who were
nfanagiAB the Carnegie Trust Co.
did not tell him the truth and h0
refused to stand q further loss be-
cause OF the pride In his name.
But he never lost sight OF the poor
deposftor whose all was gobbied up
In the smash. The Home Trust Conn
pany was the scene OF many meet
lngy and Investigations Then, when
he had all the facts. he quietly paid
on mortgages. that had been fore
closed because OF loss through the
|, failure; he paid bills for sickness;
he advanced the money for the
education of children whose parents
lost their money in the crash until
fully a thousand depositors found
they had recovered from the personal
purse OF Mr.. Carnegie all the money
they had lost through the collapse Of
the company that bore his name.
WILL REDRAWN TIME AND
AGAIN IN HoBokEN OFFICE.
Every paragraph Of the Carnegie
win was drawn and tested in the Of
t1ces OF the Home Trust Company In
Hoboken. Mr.. Carnegie's own organi-
ration. Tho lawyers created It In their
own offices, but when tho various
| drafts and changes wore completed
| they were carried TO HoIboken and
Mr.. Carnegie personally inspected
| every paragraph, When the will was
pronounced dnal Il was in the little
room overlooking the pier from which
the Leviathan sailed time and time
again for France that It passed In
/ Bpection.
AT least a dozen wills were drawn
by Mr.. Carnegie at the offices OF the
Home Trust Company. He went to
the Jersey ONCE when his health per-
United time and again and made
changes. On the top fioor of the Hud-
son Trust Company building, and
there, where he had a clear view OF
the river and bay, he framed the
paragraphs that have disposed OF the
last OF his fortune.
1t was in this room that he con-
caived all his big projects after he
retired from business and there is IN
the oflice to-day the original safe
that he had tn his P4ttsourgh Of
ace when he sold his business to the
United States Steel Corporation.
Special legislation in this State and
in New Jersey enables the Home
Trust Company TO act as executor OF
Mr.. Carnegie's estate. The two States
passed laws permitting trust COM
panaes outside the State to act a
executor when . reciprocal. rights
were acknowledged.
An act OF the New York Legisla-
!, ture provides that the Home Trusl
Company shall file a certified copy
OF its charter with the Secretary Of
State here and q certified copy oi
the New Jersey Law which enables
New York trust companies to act ~
executor there. The law also pro-
vides that the Home Trust Company
; shall file with the Secretary of Stat
. here a power OF attorney in the nam'
of the state Guperintedent OF Banks
that will allow him tolaccept ser
vice In suits the same as NJ the Hom'
! Trust Company was an institution
[ within the State. Thus. as Supertn
tendent of Banks. the attorney" o
the Home Trust Company here may
under the executorship law, file |
) suit and as attorney accept servto
! too.
LAW CHANGE TO PERMIT HAND
LIMO OF EsTATE.