P. A. B. WIDENER GIVES $4,000,000 TO SCHOOL
New York Times
Endowment Is Announced Coincident with the Filing of His Son’s and Grandson’s Wills
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TO AID CRIPPLED CHILDREN
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George Widener, Lost on the Titanic, Left His Estate to Family---Harry’s Rare Books for Harvard
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Special to The New York Times
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PHLADELPHIA, May 20---Coincident with the filing to-day of the wills of George W. Widener, and his son, Harry Elkins Widener, who went down with the Titanic, P. A. B. Widener, father and grandfather of the victims, executed a deed of trust for $4,000,000 in 4 per cent. securities to be used as an endowment for the Widener Memorial School for Crippled Children, which he has long had in mind.
A charter for the school was applied for in January. A special order of the court was required to enable it to receive such a large endowment. This was obtained to-day and the necessary deed of trust was executed at once. Thirty acres of this city, at Broad Street and Olney Avenue, and a tract at Longport, N. J., for a Summer school, had already been deeded to the trustees of the institution by Mr. Widener.
In making to-day’s gift he provides that the surplus income shall be used to bring the endowment up to $5,000,000 and to maintain it at that figure. If at the end of any current year, there is an unexpended surplus of income available, it may be disbursed by the trustees for any other charity they may choose.
George D. Widener, the son of P. A. B. Widener, left one-third of his estate to his wife, who was saved from the Titanic. To her he bequeathed also his household and personal property. The rest of the estate is left in trust to be held by the executors and trustee until the death of his last surviving child. The net income is to be divided among his living children or descendants of deceased children. The widow or widower of a deceased child of his, if they be unmarried at the time of his death, shall receive one-third of the share, which would have been due his child, “which third shall be taken out of the shares of such child’s children, if any there be, otherwise out of the general fund.”
The executors named by Mr. Widener are his father, his widow, and the Land Title and Trust Company of Philadelphia. His sons, Harry Elkins Widener, and George D. Widener, Jr., were to be added as trustees and executors as soon as they became of legal age. The will was executed in June 26, 1902.
Harry Elkins Widener left his entire estate, valued at $150,000, to his mother. He expresses the desire in his will that his collection of rare books be given to Harvard University, to be known as the “Harry Elkins Widener Collection.” He named his father as executor of estate, and because of the father’s death Mrs. Widener, the sole beneficiary, is made administratrix.
---
TO AID CRIPPLED CHILDREN
---
George Widener, Lost on the Titanic, Left His Estate to Family---Harry’s Rare Books for Harvard
---
Special to The New York Times
---
PHLADELPHIA, May 20---Coincident with the filing to-day of the wills of George W. Widener, and his son, Harry Elkins Widener, who went down with the Titanic, P. A. B. Widener, father and grandfather of the victims, executed a deed of trust for $4,000,000 in 4 per cent. securities to be used as an endowment for the Widener Memorial School for Crippled Children, which he has long had in mind.
A charter for the school was applied for in January. A special order of the court was required to enable it to receive such a large endowment. This was obtained to-day and the necessary deed of trust was executed at once. Thirty acres of this city, at Broad Street and Olney Avenue, and a tract at Longport, N. J., for a Summer school, had already been deeded to the trustees of the institution by Mr. Widener.
In making to-day’s gift he provides that the surplus income shall be used to bring the endowment up to $5,000,000 and to maintain it at that figure. If at the end of any current year, there is an unexpended surplus of income available, it may be disbursed by the trustees for any other charity they may choose.
George D. Widener, the son of P. A. B. Widener, left one-third of his estate to his wife, who was saved from the Titanic. To her he bequeathed also his household and personal property. The rest of the estate is left in trust to be held by the executors and trustee until the death of his last surviving child. The net income is to be divided among his living children or descendants of deceased children. The widow or widower of a deceased child of his, if they be unmarried at the time of his death, shall receive one-third of the share, which would have been due his child, “which third shall be taken out of the shares of such child’s children, if any there be, otherwise out of the general fund.”
The executors named by Mr. Widener are his father, his widow, and the Land Title and Trust Company of Philadelphia. His sons, Harry Elkins Widener, and George D. Widener, Jr., were to be added as trustees and executors as soon as they became of legal age. The will was executed in June 26, 1902.
Harry Elkins Widener left his entire estate, valued at $150,000, to his mother. He expresses the desire in his will that his collection of rare books be given to Harvard University, to be known as the “Harry Elkins Widener Collection.” He named his father as executor of estate, and because of the father’s death Mrs. Widener, the sole beneficiary, is made administratrix.
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