Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-07-03
TIVE CHILDREN
divide ESTATE
| OF FAIRBANKS
Daughter, Who Exposed In
zdianapOlis News Ownership,
to Get Equal Share.
B,OOO,OOo IS INVOLVED


Probate Commissioner N. Bash Of this
county.
Under the terms of the agreement Miss
Adelaide Fairbanks. daughter Of the for
mer vice president, receives child's full
share OF the estate instead of $4,000 an
nually as first provided in the will.
Miss Fairbanks. after all the debts are
paid and special requests made as stated
In the viii, viii share equally in the es-
tate with Warren c. Fairbanks, Frederick
C. Fairbanks and Richard NJ Fairbanks
These four viii receive equal shares Of
Iour-hfths Of the estate; the remaining
one fifth is held in trust for Robert Fair
banks OF Los Angeles, Cal, who is now
under guardian.
No real estate was divided at this
time, but the court appointed by agree
ment of parties Attorney Martin Hugg
TO act in the capacity Of ascommissioner
IN the distribution Of the real estate.
The signing of the contract ends the
will contest started by Miss Fairbanks to
obtain ehild's full share of the estate.
OTHER REQUESTS
NOT DISTURBED.
The agreement reached between Miss
Fairbanks and the other heirs does not
disturb the requests made to charitable
and other institutions.
The settlement provides a $4,000 be-
quest to be used by the city of Indian
apolis in erecting buildings Tor social
and educational purposes and in buying
park and Fairgrounds.
rms bequest was made in memory of
/. Mr. Fairbanks wife and the will pro-
yides that the principal of this fund
snaH be put at compound interest fol
90 years and the Interest at hfty-yeer
periods shall lie used in interest of the
city as stated in the will
The other becuesus will be carried out
as provided in the bill, as follows: Fifty
thousand dollars TO the Methodist hos
pital, $4,000 10 the Ohio Wesleyan uni
verstty at Delaware, o.; S25,0OU 10 De-
3 Paw university at Greencastle, Ind,
and $500 10 St. vineent's hospital, 5000
b TO Mary Dean, the vice presidents pri-
Vate secretary, and an annual income
OF $500 to Theresa Norton, : servant IN
the Fairbanks Household.
Il The viii provided annuitics to be fxeG
by the executors Of the viii, for Jennie
IF. Aillikan, a sister Of Mr.. Fairbanks,
and Newton H. Fairbanks. a brother
EACH SHARE
ABOUT sI.6eO.0OO.
On the basis Of an $4,000 estate,
each Of the four principal heirs will re-
eeive shares approximately OF 81 900 GOO,
and hnal adjustment might result in the
shares reaching about 81, 0DO. 600.
r The Fairbanks viii was filed for pro-
bate on June 70 following the death Of
Mr.. Fairbanks on June 1. 1918.
When an inventory was fled some time
after the probate OF the viii and the ap-
pointment Of the executors, no mention
! was made in the inventory that Fair
banks had any interest in the Indian
5apolis News.
The truthful ownership of the News
kwas guarded carefully during the life
kline Of the former vice president and
the ~ AessiOn was that Delavan Smith
& chiAAtwas the owner
'rOLD YevERNMENT
SANE FHING.
Evegh the sworn statement Of owner
ship rs required by the federal postal
authdEities prior to the fling of the will
cGntett suit, showed "Delavan Smith, do
Ing business as the Indianapolis News"
was{the owner Of the News.
Later, following the Indictment Of Del
AVIAN Smith in the United States district
court Of this city on a charge Of vi0lat
ing the federal law requiring a state
nent Of truthful ownership. a postOAice
statement showed that Smith and the
Charles Warren Fairbanks estate were
the owners Of the News.
The Fairbanks estate owns a three
: fourths interest Of the Indianapolis News
and it is understood that Mr.. Smith viii
retain mana cement OF the newspaper as
: long as he lives. according 70 the under
stood expressed desire Of Mr. Fairbanks.
sHDGE ANDERSON
stsTAINS DEMURRER.
Federal Judge i. 3. Anderson sustained
a demurrer in Smiths case on the
grounds that the act charged did not con
stfttue an offense against the section OF
the federal statutes under which the IN
dtctment was returned
Miss Fairbanks at the time Of fling her
win contest suit was Mrs. Adelaide Tim
mons. but pending the final disposition
OF the estate, Mrs. Timmons fled divorce
proceedings in superior court. Room 2.
Linn Hay, judge, and was granted
. divorce on the grounds Of nonsuppOrt.
Capt Timmons did not appear in court
20 contest the suit.
On Sept c. last Miss Fairbanks, who
surrendered, the name OF Timmons at the
time the decree was granted, filed q suit
contesting the will and demanded a
chiId's full share OF the estate, instead Of
restricted part.
NEWS APPRAISED
AT 81. 10000.
+ The fling Of this suit resulted in Fred
ertck. Warren and Richard Fairbanks
fling a supplementary inventory apprais-
ing the estates interest IN the News at
81, 800 600
AS far as is known this was the first
sworn and public announcement Of the
silent ownership OF Fairbanks in the
newspaper.
) The divorce OF Mrs. Timmons, her Will
contest suit and the acknowledgment Of
the secret ownership OF the News, along
with the subsequent Indictment of Della
van Smith IN the federal court. received
national prominence and was widely dis
eussed.
Z Efforts were made, it is understood,
20 settle the suit brought by Miss Fair
banks.
Judge Mahlon Bash, probate commits
sioner who is presiding in the contest
suit was asked to be in his chambers at
A o'clock yesterday afternoon to sign the
agreement.
The court waited until after p. m,
but the attorneys did not appear.
Announcement was made that there
was "slfght delay" in typewriting the
agreement
The heirs were notified to appear IN
probate court this morning at the presen-
fation Of the announced agreement.
s among the heirs here for the agree
ment are Mr. and Mrs. Frederick Fair
hanks Of Pasadena, Cal; Mr. and Mrs
Adelaide Fairbanks, who lives in this
city at the Fairbanks family mansion.
Richard ". Fairbanks and his wife
a 70 in