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The Columbia Herald
Columbia, Maury County, Tennessee
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The will of Cornelius Vanderbilt, valued at $70 million, was made public in New York on Oct. 27. Alfred Gwynne Vanderbilt inherits $40-50 million, Cornelius Jr. gets $1.5 million but will receive more from Alfred to equal siblings' $7.5 million each. Widow gets $2 million and $250,000 annual income. Bequests to family, Depew, universities, and charities.
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Cornelius Vanderbilt's Will Made Public Last Night.
Estate Valued at $70,000,000-Bequests
New York, Oct. 27.-The terms of the will of the late Cornelius Vanderbilt were made public last night. The estate is estimated at $70,000,000.
Alfred Gwynne Vanderbilt, the second son, will get from $40,000,000 to $50,000,000, thus becoming the head of the family. Cornelius Vanderbilt, Jr., the eldest son, will only receive $1,500,000, of which $1,000,000 is to be held in trust, but Alfred will give his brother enough of his inheritance to make his share equal to that of the other brother and sisters, which is about $7,500,000 each.
Mrs. Vanderbilt is to receive $2,000,000 in cash or securities and an income of $250,000 a year.
The family residence and other real estate is willed to the widow and the younger children. Chauncey M. Depew is remembered with $200,000.
Vanderbilt University at Nashville is given $50,000, and Yale University $100,000. A number of religious and charitable institutions are provided for in the will.
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New York
Event Date
Oct. 27
Story Details
The will of Cornelius Vanderbilt, estimated at $70,000,000, was made public. Alfred Gwynne Vanderbilt inherits $40-50 million, becoming family head. Cornelius Jr. gets $1.5 million but will receive additional from Alfred to match siblings' $7.5 million each. Widow receives $2 million and $250,000 yearly income, plus real estate with younger children. Bequests include $200,000 to Depew, $50,000 to Vanderbilt University, $100,000 to Yale, and provisions for charities.