The last will and testament of the late William H. Vanderbilt ..

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UNITED STATES OP AMERICA.

PRICE 10 CENTS.

THE LAST WILL
AND TESTAMENT

— OF

THE LATE

William H. Vanderbilt,

WITH PORTRAIT.

COPYRIGHT, 1885, BY TAG6ART & MILLER, NEW YORK.

THE LATE

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THE LAST WILL
AND TESTAMENT

OF-

THE LATE

William H, Vanderbilt,

WITH PORTRAIT.

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PRICE 10 CENTS.

NEW YOKK: V<,
TAGGART & MILLER, 1580 BROADWAY.

188G.
Copyright, 1885, by TAGGART & MILLER.

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I

OF THE LATE

Satilliam g. UaudevMlt.

WILLIAM H. VANDERBILT, of the city of New York, do
} make and publish my last will and testament as follows, viz:

First : — I devise unto my beloved wife, Maria Louisa, for
and during her natural life, the dwelling house in which I now
reside and the lot on which it stands, which is bounded and
described as follows: Beginning at the north-westerly corner
of Fifth Avenue and Fifty-first Street, and running thence
northerly along the westerly line of Fifth Avenue 103 feet and 5
inches; thence westerly parallel with Fifty -first Street 74 feet 3
inches; thence northerly parallel with Fifth Avenue 12 feet 8
inches; thence westerly parallel with Fifty-first Street 18 feet 5
inches; thence northerly parallel with Fifth Avenue 14 inches;
thence westerly parallel with Fifty-first Street 57 feet 3 J inches:
thence southerly parallel with Fifth Avenue 16 feet 10 inches;
thence westerly parallel with Fifty-first Street \ inch; thence
southerly parallel with Fifth Avenue 105 feet 5 inches to the
northerly line of Fifty-first Street, and thence easterly along
that line 150 feet to the place of the beginning.

I also give and devise to my said wife for and during her
natural life, the three loLs of land on the northeasterly corner of
Madison Avenue and Fifty second Street, in the city of New
York, containing together 75 feet in width on Fifty-second
Street and in the rear, and 100 feet in depth, together with the
stables and improvements thereon erected. I also give and
bequeath to her for and during her natural life all the paintings,
pictures, statuary and works of art which I may own at the time of
my decease, except the portrait and the marble bust of my father,
which I have bequeathed to my son Cornelius. I also give and
bequeath to her for and during her natural life, all the furniture

of every description, including plate, silver, library ornaments,
musical instruments, and other articles of household use which
may at the time of my decease be in or appurtenant to my
present residence, corner of Fifth Avenue and Fifty-first Street,
and also, all the horses, carriages, vehicles, harness, stable
furniture and implements which I may have on hand at the time
of my decease and usually kept in my said stables on Madison
Avenue and Fifty-second Street, and I empower my wife during
her life to exchange or dispose of any of my said household
furniture and other chattels, except pictures, statuary and works
of art, and of any of said horses, carriages and stable furniture
to such extent as she shall deem necessary from time to time to
renew or replace the same.

I also give and bequeath to my said wife an annuity of
$200,000 per annum during her natural life, to be computed
from the date of my decease and paid to her in equal quarter-
yearly payments thereafter, and I direct that a sum sufficient to
produce such aunuity be set apart and at all times safely invested
by my Executors for that purpose during the life of my wife.
And I empower her to dispose by will of $500,000 of the principal
of the sum so directed to be set apart in any manner she may
desire and which shall be legal. All taxes, assessments, and
charges which may be imposed on the real estate devised to my
wife for life shall be payable by her during the same period.
And I declare that the foregoing devises and bequests to her
are to be in lieu of dower.

Second: — I devise unto my daughter Margaret Louisa, wife of
Elliot F. Shepard, Esq., her heirs and assigns forever, the house in
which she now resides and the lot on which it stands, which lot
is described as follows, viz: Beginning at the southwesterly
corner of Fifth Avenue and Fifty-second Street, in said city, and
running thence southerly along the westerly line of Fifth Avenue
44 feet; thence westerly parallel with Fifty-second Street 41 feet
3 inches; thence northerly parallel with Fifth Avenue 7 feet 11
inches; thence westerly parallel with Fifty-second Street 15 feet
3 inches; thence southerly parallel with Fifth Avenue 15 feet 10
inches; thence westerly parallel with Fifty-second Street 15 feet
3 inches; thence northerly parallel with Fifth Avenue 7 feet 11

inches; thence westerly parallel with Fifty-second Street 78 feet
2| inces; thence northerly parallel with Fifth Avenue, 44 feet to
the southerly line of Fifty-second Street, and thence easterly,
along the line last mentioned, 149 feet 11| inches, to the place
of beginning; together with all my rights in Fifth Avenue and
Fifty-second Street in front of said premises. Excepting, how-
ever, out of the lot of land hereby devised and described, an
irregular strip of land, part of the rear thereof, which strip
extends from the southerly line of Fifty-second Street to a line
parallel therewith, and distant 44 feet southerly therefrom, and
is 7 feet 11 inches wide at Fifty-second Street, narrowing by jogs
and curves to 4 feet 4f inches in the rear as now inclosed by the
iron fence which separates said strip from the residue of the lot
in this clause described.

Third: — I devise to my daughter, Emily Thorn, wife of
William Sloane, her heirs and assigns, the middle one of the
three houses erected by me on the westerly side of Fifth Avenue,
between Fifty-first and Fifty-second Streets, and the lot on which
it stands, which lot is bounded and described as follows: East-
erly in front by Fifth Avenue, westerly in the rear by a line
parallel with Fifth Avenue, and distant 149 feet 11 \ inches west-
erly from the westerly line thereof, northerly by the lot of land
hereinbefore devised to my daughter Margaret Louisa, and by
said strip excepted therefrom, and southerly by the lot of land
hereinbefore devised to my wife for life, containing 53 feet 5
inches in width in front on Fifth Avenue, and 39 feet 7 inches
in width in the rear, and embracing all the land lying between
the lots described in the first and second clauses of this will.
I also devise to my said daughter Emily, her heirs and assigns,
for the purpose of being kept open as a rear entrance to the
premises devised to her, the before described irregular strip of
land excejDted from the rear part of the lot in the second clause of
this will described, and extending to Fifty-second Street.

Fourth: — I devise unto my daughter Florence Adele, wife
of Hamilton McK. Twombly, her heirs and assigns forever, the
lot of land on the southeasterly corner of Fifth Avenue and
Fifty-fourth Street, in said city, and a part of the lot in the rear
thereof, fronting on Fifty-fourth Street, which premises are

together bounded and described as follows: Beginning at the
corner formed by the intersection of the southerly side of Fifty-
fourth Street with the westerly line of Fifth Avenue, running
thence southerly along the westerly line of Fifth Avenue 48 feet
3| inches, to a point in continuation of the centre line of the
party wall between the two dwelling houses lately erected on
the lot hereby devised and the lot adjoining the same on the
south; thence running westerly parallel with Fifty-fourth Street,
and partly through the centre of said party wall 75 feet ;
thence southerly and parallel with Fifth Avenue, 14 inches;
thence westerly and parallel with Fifty-fourth Street 10 feet;
thence northerly and parallel with Fifty-fourth Street 15 feet to
the easterly line of said rear lot; thence southerly, parallel with
Fifth Avenue 4 feet; thence westerly parallel with Fifty-fourth
Street, 18 feet; thence easterly parallel with Fifty-fourth Street,
2 feet; thence northerly parallel with Fifth Avenue, 6 feet and 3
inches, and one-half inch, to the southerly line of Fifty-fouith
Street, and thence easterly, along the last mentioned line, 1 1 6
feet to the westerly line of Fifth Avenue, at the place of beginning,
together with the dwelling house erected on said premises, and
all my right, title and interest in and to the street and avenue
bounding said premises.

Fifth; — I devise unto my daughter Eliza O., wife of William
S. Webb, her heirs and assigns, forever, the lot of land on the
westerly side of Fifth Avenue next adjoining on the south the
corner lot described in the next preceding fourth clause of
this will, and also the remaining part of the said rear lot front-
ing on Fifty-fourth Street, which premises hereby devised are
together bounded as follows: Beginning at a point on the
westerly side of Fifth Avenue, distant 48 feet 3 \ inches southerly
from the southerly line of Fifty-fourth Street, and where a line
in continuation of the centre line of the party wall mentioned in
said fourth clause intersects the westerly line of Fifth Avenue ;
thence running westerly parallel with Fifty fourth Street and in
part through the centre of said party wall 75 feet; thence follow-
ing the line of the lot in said fourth clause described southerly
14 inches, westerly 10 feet, northerly 14 inches, and westerly, 15
feet to the easterly line of said rear lot; thence southerly parr llel

with Fifth Avenue 4 feet; thence westerly parallel with Fifty-
fourth Street 18 feet; thence northerly parallel with Fifth Avenue
46 feet; thence easterly parallel with Fifty-fourth Street 2 feet;
thence northerly parallel with Fifth Avenue 6 feet 3^ inches, to
the southerly line of Fifty fourth Street; thence westerly along-
that line 6 feet 6 inches; thence southerly parallel with Fifth
Avenue 100 feet and 5 inches to the centre line of the block
between Fifty-third and Fifty-fourth Streets; thence easterly
along said centre line and parallel with Fifty-fourth Street 122
feet 6 inches to the westerly line of Fifth Avenue, and thence
northerly along the last mentioned line 52 feet 1J inches to the
place of beginning; the strip of land on the westerly side of said
lots, fronting on Fifty-fourth Street, is given to my said daughter
Eliza O., for the purpose of affording her a rear entrance from
Fifty-fourth Street to her house, and the easterly line of said
entrance may be shaped in such manner as shall be or have been
devised by the architect in charge of the erection of said two
houses, but keeping as nearly as possible within the dimensions
hereinbefore prescribed.

/Sixth: — Should the dwelling houses now being erected for
my daughters Florence Adele and Eliza 0., upon the two lots of
land devised to them not be finished at the time of my decease,
I direct that they be completed as soon as practicable thereafter
at the expense of my estate.

Seventh: — I give and bequeath to the Trustees hereinafter
appointed twenty-five millions of dollars of bonds of the United
States of America, bearing interest at the rate of 4 per cent, per
annum, the principal falling due in the year 1907; five million
dollars of second mortgage bonds of the Lake Shore and Michigan
Southern Railway Company, due in the year 1903, bearing
interest at the rate of 7 per cent, per annum; eight hundred
thousand dollars of the first mortgage bonds of the last named
company, due in the year 1900, bearing interest at the rate of 7
per cent, per annum; two million dollars of the sinking fund
bonds of the Chicago and Northwestern Railway Company, due
in the year 1929, bearing interest at the rate of 5 per cent, per
annum ; two hundred thousand dollars of the general consolidat-
ed sinking fund bonds of the last named company, due in the

year 1915, bearing interest at the rate of 7 per cent, per annum;
four million dollars of the mortgage bonds of the New York Central
Railroad Company, due in the year 1903, and bearing interest at
the rate of 7 per cent, annum; and one million dollars of the
mortgage bonds of the New York and Harlem Railroad Company
due in the year 1900 bearing interest at the rate of 7 per cent,
per annum, making in the aggregate forty million dollars of the
above named securities at par, intrust to divide the same into
eight equal parcels of1 five million dollars each, and each
of said parcels to contain an equal amount of each of
above specified kinds of bonds; to set apart and hold one of said
parcels in trust for each of my four sons, Cornelius, William K.,
Frederick W. and George W. Vanderbilt, and one of said parcels
in trust for each of my four daughters hereinbefore named, and
to collect and receive the income of each of said eight trust funds
and pay the same as it accrues and is collected to the beneficiary for
whom it is set apart, during the natural life of such beneficiary.
And I direct that no payment be made in anticipation of such
income and that no part of the principal of said trust funds be
paid over or alienated or transferred during the lifetime of the
child*entitled to the income thereof, and upon the death of each
of my said eight children I direct the principal of the fund so
set apart and held in trust for him or her, be paid to his or her
lawful issue in such shares or proportions as he or she may by
last will may have directed or appointed, and in default of such
testamentary direction, I direct that such fund be divided among
his or her lawful issue in the proportions in which they would
be by law entitled thereto had my child, so dying, died possessed
thereof in his or her absolute ownership.

In case either of my sons should leave no lawful issue him
surviving, I direct that the fund so held in trust for him be
divided among his brothers him surviving, and the issue of any
of his brothers who may have died before him, such issue to take
the share which the brother so dying would have taken if living.
And should either of my said daughters have no lawful issue
her surviving, I direct that the fund so held in trust for her be
divided among her sisters living at the time of her death, or
should any of her sisters have died before her leaving issue, such

issue shall take the share which such deceased sister would have
taken if living.

Eighth : — I authorize the Trustees of the said several trust
funds to receive and re-invest the proceeds of the bonds so given
to them in trust as they mature, and also in their discretion to
change from time to time the investments of said trust funds,
but I direct that they do at all times keep the said principal of
the several trust funds securely invested during the continuance
of said trusts respectively in bonds of the United States of
America, or of the State or City of New York, or in mortgage
bonds of the New York Central and Hudson Eiver Railroad
Company, the New York and Harlem Railroad Company, the
Lake Shore and Michigan Southern Railway Company, or the
Chicago ancLNorthwestern Railway Company, or bonds guaran-
teed by it or some one or more of said specified securities. They
may change such investments from time to time, and may also
invest on bond and mortgage on unencumbered real estate in the
State of New York, and they may apply to the re-investment of
the principal of said trust funds, or either of them, any of the
securities of the classes above specified which I may have on hand
at the time of my decease at their market value at the time of
such application.

And I direct that all securities in which such trust funds
shall from time to time be invested be taken and held by said
Trustees in their names as Trustees for the parties respectively
for whose benefit the funds are severally set apart and held, so
that each of said eight trust funds shall be kept separate and
distinct from the others and the accounts thereof shall be separ-
ately kept.

Should I not have on hand at the time of my decease a
sufficient amount of each of the descriptions of bonds hereinbe-
fore specified to make up the amounts in the seventh clause
bequeathed in trust, I direct that the deficiency be supplied with
bonds of the New York and Harlem Railroad Company at par,
or any other bonds I may have.

Ninth: — I give and bequeath unto my. four sons and my
four daughters hereinbefore named, to be equally divided between
them, ten million of dollars of bonds of the United States of

America, bearing interest at the rate of 4 per cent, per annum,
the principal falling due in the year 1907, nine hundred and
twenty thousand dollars of the bonds of the New York Central
Eailroad Company, payable in the year 1903, and bearing interest
at the rate of 7 per cent, per annum ; eighty thousand dollars
of the mortgage bonds of the New York and Harlem Railroad
Company, payable in the year 1900, bearing interest at the rate
of 7 per cent, per annum; one million dollars of the bonds of the
Detroit and Bay City Railroad Company^ payable in the year
1931, and bearing interest at the rate of 5 per cent, per annum;
three million dollars of the second mortgage bonds of the Lake
Shore and Michigan Southern Railroad Company, payable in
the year 1903, bearing interest ah the rate of 7 per cent, per
annum; three million dollars of the mortgage bonds of the Pine
Creek Railroad Company, payable in the jeav 1932, bearing
interest at the rate of 6 per cent, per annum; two million dollars
of the mortgage bonds of the Pittsburg, McKeesport and Yough-
iogheny Railroad Company, payable in the year 1932, bearing
interest at the rate of 7 per cent, per annum; two million dollars
of the guaranteed stock of the last named company, bearing
interest at the rate of 6 per cent, per annum; two million dollars
of the debenture bonds of the Chicago and Northwestern Rail-
way Company, payable in the year 1933, and bearing interest at
the rate of 5 per cent, per annum; two million dollars of the funds
of the Dakota Central Railroad Company, payable in the year 1907,
bearing interest at the rate of 6 per cent, per annum, and guar-
anteed by the Chicago and Northwestern Railway Company;
forty thousand shares of the capital stock of the New York
Central and Hudson River Railroad Company; thirty thousand
shares of the capital preferred stock of the Chicago and North-
western Railway Company; fifty thousand shares of the capital
stock of the Lake Shore and Michigan Southern Railway Com-
pany and twenty thousand shares of the capital stock of the
Michigan Central Railroad Company, making in the aggregate
forty million dollars of securities at par, to be divided among
my before-named eight children in such manner that an equal
amount as nearly as may be of each kind of security shall be
allotted to each child.

Should I not have on hand at the time of my decease
a sufficient. amount of bonds and stocks of all the descriptions
above named after providing the trust funds created in the
seventh clause of this will to make up the amounts in this ninth
clause bequeathed, I direct that the deficiency be made up
with cash to the amount of the bonds or stock which may be
deficient at par.

Tenth: — I, having transferred on the books of the Chicago
and Northwestern Railway Company to each of my three
daughters, Margaret Louisa, Emily Thorn and Florence Adele
four thousand shares of the preferred stock of the said company,
but I holding the certificates of shares, with powers to transfer
the same executed by my said daughters respectively, I hereby
declare that the foregoing bequests to my said daughters are to
be in place of said shares, and that said shares are to be part of
my residuary estate.

Eleventh: — I direct that all the stocks and bonds in the
ninth clause of this will beqeathed to my daughter Eliza O. be
not delivered to her or placed under her control until she has
attained the age of thirty years, but that they be set apart and
held for her by my Executors in the meantime and that the
interest accruing thereon be collected by them and paid over as-
it is received until said bonds and stocks are delivered to her;
but it is my will that if my said daughter Eliza O. should die
before attaining the age of thirty years leaving children her sur-
viving, the said bonds and stocks shall be divided among such
children in such proportions as she may by will direct, or if she
should leave no will then in equal shares; should she leave but
one child that child is to take the whole. And in case she should
die before attaining the age of thirty years and should leave no
child her surviving the property bequeathed to her in said ninth
clause shall revert to my estate.

Ticelftk: — I direct that the interest and dividends on the
several bonds and stocks bequeathed in the seventh and ninth
clauses of this will be apportioned up to the date of my decease,
and that so much thereof as shall have accrued after that date
shall belong to the legatees.

Thirteenth: — I bequeath unto my son Cornelius Yanderbilt.

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the sum of two million dollars in addition to all other bequests
to him in this will bequeathed.

Fourteenth; — Upon the decease of my wife I devise to my
son, George W. Vanderbilt, for and during his natural life the
hereinbefore described lot of land and house on the northwesterly
corner of Fifth Avenue and Fifty-first Street, where I now
reside, and the lots and stables on Madison Avenue and Fifty-
second Street, being the same properties in the first clause of
this, my will, devised to my wife for life. I also bequeath to un-
said son George W., for and during his natural life all my
pictures, statuary and works of art, except the portrait and
marble bust of my father, which I bequeath to my son
Cornelius. I also bequeath to my son George W. all the furni-
ture, carriages and other chattels mentioned in the first clause
of this, my will, for and during his natural life, and after the
decease of my wife and my son George W., if he shall leave any
son or .sons surviving him, I give, devise and bequeath absolutely
and in fee the said house and lots on Fifth Avenue and Fifty-
first Street and said lots and stables in Madison Avenue and
Fifty-second Street, and all the pictures, statuary, furniture and
all the property of every description which is in the first clause
of this, my will, devised and bequeathed to my wife for life unto
such one of the sons of the said George W. as he shall by his last
will direct and appoint to take the same. And in default of such
testamentary direction then to the eldest son of the said George
W. who shall survive him. And in case the said George W.
leaves no son him surviving then on his decease and after the
death of my wife, I give, devise and bequeath all and singular,
the said real and personal property so given to George W. for
life unto my grandson William H. Vanderbilt, son of my son
Cornelius, his heirs and assigns forever, and in the event last
mentioned, I also give and bequeath to my said grandson "William
H. two million dollars, but without regard to the event of my son
George W. dying as aforesaid, I bequeath to my said grandson
William H. one million dollars, to be paid to him on his attaining
the age of thirty years; in the meantime the income thereof shall
be applied to his use by my executors during his minority, and
thereafter shall be paid to him at such times and in such amounts

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as his father, if living, shall approve, until he becomes entitled
to the principal, and in case the said William H. becomes entitled
to the said legacy of two million dollars, the one million dollars
last given shall be deemed part thereof.

In case my son George W. shall die without leaving any son
him surviving, if said William H. is not then living, the real and
personal estate so given to said George W. for life shall after his
death and that of my wife go, and I devise and bequeath to my
grandson Cornelius, son of my son Cornelius, in fee, and in that
event I give to my last named grandson one million dollars, my
object being that my present residence and my collection of
works of art be retained and maintained by a male descendant
bearing the name of Vanderbilt.

Fifteenth: — I direct that no deduction be made from any
of the legacies to my children by reason of any sums which I
have heretofore given or advanced to, or for account of, either of
them.

Sixteenth: — I give and bequeath to William Vanderbilt
Kissam, son of Peter B. Kissam, of the City of Brooklyn, and
nephew of my wife, the sum of thirty thousand dollars, to be
paid to him when he attains the age of twenty-five years, pro-
vided his father and my son Cornelius, or the survivor of them,
shall in their or his discretion approve in writing of such pay-
ment at that time, otherwise at such later period as they or the
survivor of them shall so approve; and I direct that interest on
said legacy be paid to said William V. Kissam from the time of
my decease until he shall receive the principal.

Seventeenth-. — I give and bequeath to my uncle, Jacob H.
Vanderbilt, the dividends which shall accrue during his life on
one thousand shares of the capital stock of the New York Central
and Hudson Biver Bailroad Company now standing in his name
on the books of the same company but owned by me, I holding
the certificates with power. I also give to each of the children
of my said uncle, viz : Mrs. Ellen Caesar, Jacob H. Vanderbilt
and Mrs. James McNamee the sum of two thousand dollars per
annum to each during their respective natural lives.

Eighteenth: — I give and bequeath to Mrs. Annie Beid, wife
of J. E. Beid; to Mrs. Emma De Forest, wife of Frank A. How-

12

land, and daughter of the late Daniel C. Van Duzer, of Staten
Island; to my aunt, Miss Phebe Vanderbilt; to Sophia White,
daughter of Andrew Ainslie; to Jeremiah Simonson; to Anna
Root, wife of George M. Boot; to Miss Emma Simonson,
daughter of Cornelius Simonson, deceased, and to Miss Charlotte
Dustan, an annuity of two thousand dollars per annum each;
to Mrs. Edith Dustan, wife of Charles Dustan, who resides in
the City of Demopolis, in the State of Alabama, an annuity of
twenty-five hundred dollars per annum; to Mrs. Georgiana
Hitchcock, Mrs. Emily V. P. Snedeker, wife of Livingstone
Snedeker, and to Mrs. Catherine McGregor, of the City of New
York, an annuity of twelve hundred dollars per annum to each;
all the said annuities to be computed from the date of my decease
and to be paid quarterly thereafter to the several annuitants
during their respective natural lives

Nineteenth: — I give and bequeath to E. W. Rossiter the
sum of ten thousand dollars and to Lambert Wordell the sum of
ten thousand dollars.

Twentieth: — I give and bequeath to the Board of Trust of
Vanderbilt University, of Nashville, Tenn., incorporated under
the laws of the State of Tennessee, two hundred thousand
dollars of the second mortgage bonds of the Lake Shore and
Michigan Southern Railway Company, to be applied to the uses
and purposes of the said university.

Twenty-first: — I give and bequeath to the following named
socities and incorporated bodies, organized under the laws of
the State of New York, the sums hereinafter sjoecified, viz: To
the Domestic and Foreign Missionary Society, of the Protestant
Episcopal Church of the United States of America, one hundred
thousand dollars for foreign, and one hundred thousand
dollars for domestic missionary purposes; to St Luke's hospital
incorporated in 1850, one hundred thousand dollars; to the
Young Men's Christian Association of the City of New York, one
hundred thousand dollars; to the General Theological Seminary
in the City of New York, of the Protestant Episcopal Church,
fifty thousand dollars: to the New York Bible and Common
Prayer Book Society, whereof the Bishop is President, fifty
thousand dollars; to the Home for Incurables, incorporated 1845,

13

fifty thousand dollars; to the Protestant Episcopal Church
Missionary Society for Seamen in the City and Port of New York,
fifty thousand dollars; to the New York Christian Home for
Intemperate Men, fifty thousand dollars; to the New Y^ork
Protestant Episcopal Mission of the City of New York, one
hundred thousand dollars; to the Metropolitan Museum of Art,
incorporated April 13, 1870, one hundred thousand dollars; to
the American Museum of Natural History, in the City of New
Yrork, fifty thousand dollars; and to the Moravian Church in
New Dorp Lane, Stateii Island, organized under the name of
the United Brethren's Church, one hundred thousand dollars.

Twenty -second; — All the rest, residue and remainder of all
the property and estate, real, personal and mixed, of every
description and wheresoever situated, of which I may be seized
or possessed or to which I may be entitled at the time of my
death, I give, devise and bequeath unto my two sons, Cornelius
Yanderbilt and AYilliam K. Yanderbilt, in equal shares, and to
their heirs and assigns to their own use forever.

Twenty -third; — I constitute and appoint my wife, Maria
Louisa, and my sons Cornelius, William K., Frederick W. and
George W.3 and the survivors and survivor of them, Executrix
and Executors of this my will, and Trustees of the several trust
funds hereinbefore mentioned and created, provided, however,
and this appointment is subject to this exception, that neither of
my said sons shall be Trustee of the fund hereinbefore directed
to beset apart and held in trust for him or for his benefit; but
as to such fund in the case of each of my said sons the trust shall
vest in and be executed by the others of the Trustees hereinbefore
named, and the survivors or survivor of them: and provided
further, and the said appointments of Executrix, Executors and
Trustees are subject to the further condition that no commission
or compensation shall be charged by or allowed to either of
them for their services as Executrix, Executor or Trustee, and if
either of them shall decline to serve on that condition his or her
appointment as such Executrix, Executor or Trustee shall cease
and terminate.

And for the purpose of guarding against the contingency of
any unsuitable person being appointed Trustee of any or either

14

of the trust funds hereinbefore created, I direct as to each of
said trust funds that in case of the death, disability, or resignation
of any of the trustees hereinbefore appointed the trust shall vest
in and be executed by the others of those whom I have named,
and upon the death of the last survivor of the acting Trustees
during the continuance of the trust, the trust shall cease and
the entire trust fund shall be paid to the beneficiary entitled to
the income.

Twenty -fourth: — Should any or either of the provisions or
directions of this will fail or be held ineffectual or invalid for any
reason it is my will that no other portion or provision of this
will be invalidated, impaired or affected thereby, but that this
will be construed as if such invalid provision or direction had
not been herein contained.

Lastly-. — I hereby revoke all former wills and codicils by
me at any time made. In witness whereof I have hereunto set
my hand and seal at the City of New York, the twenty -fifth day
of September, in the year one thousand eight hundred and
eighty-four.

W. H. VANDEBBILT. [l. s.]

Signed, sealed, published and declared by William H. Van-
derbilt, the testator, as and for his last will and testament, in
the presence of us, who, at his request and in his presence and
in the presence of each other, have hereunto subscribed our
names as witnesses.

The words " or bonds guaranteed by it," interlined on the
twenty-first page.

CHAS. A. KAPALLO,
No. 17 West Thirty-first Street, New York.

SAMUEL F. BAKGEE,
No. 17 West Thirty-third Street, New York.

C. C. CLAKKE, Sing Sing.

I. P. CHAMBEFS.

No. 26 East Forty-ninth Street, New York.

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