Will of William Walter Phelps
Liberal Bequests to Mrs. Phelps and Children -- Yale a Beneficiary.
HACKENSACK, N.J., July 19. -- The will of Judge William Walter Phelps, ex-Minister to Germany, of Teaneck, was filed with Surrogate Haring here today. It is as follows:
I name John J. Phelps, William E. Bond, and Thomas R. White, Jr., my executors and trustees for all trusts herein created. They need file no bond, and they may use the property left to them, real and personal, so far as buying, mortgaging, leasing, or selling is concerned, as they may think for the best interest of the estate and the trusts herein created.
I devise my Bushy Hill farm and the family vault at Simsbury to my son John. With the realty I wish to go all the furniture, stock, tools, horses, and all property on the farm.
I give to my friends, William T. Lusk, Henry C. Eno, John N. Linsly, Charles A. Miller, and D. Stewart Dodge $1,000 each. This is only to show my love.
To my namesakes, Walter Phelps Dodge and Walter Phelps Bliss, I give the each $5,000.
For the following persons I directed certain securities be set aside, a separate lot for each cestuy que trust, and of such value in each case at Charlotte the time of this appropriation seemed likely to produce the annual income I wish given to each, viz.: Patrick O'Neill, coachman, $300; Carolyn Wetsenbacken, $300; William Bennett, $500; Walter Phelps Hall, $250; Hugh M. Herrick, $300; Minnie D. Nichols, $1,000; Ellen S. Reid, $1,000, and the income of these appropriations or settings aside are to be paid to each during his or her lifetime, semi-annually. At any time, in their discretion, my executors, upon the agreement of any two, may close each or all of the above trusts by giving any cestuy que trust the present value of these annuities.
Out of the personal assets left I wish to a trust funds to be formed, one of $300,000 for my daughter Marian, and one of $500,000 for my son Sheffield. The interest of these funds is to be paid to each of them semi-annually. Upon the deceased of either, the trust fund goes to his or her children. If in either case there is no child, then it is to be divided among my surviving children.
After these trusts are provided for, I leave, devise, and bequeath all my estate to my wife and children, a share and share alike, subject, however, to the right which I give my wife to have and to hold or her lifetime all my Teaneck estate. Under this title I include all my real estate lying between Railroad Avenue and Cedar Lane in Englewood Township. I give to her all furniture, stores, pictures, plate, horses, charges, wagons, in a word, all the personal property on this estate, and I direct my executors to retain of the estate during her lifetime enough money with which to keep up, without expense to her, the administration care of the Teaneck estate as now administered and cared for by me, and to expend this under the suggestion and care of William Bennett.
I give to William E. Bond $25,000.
I give to Thomas R. White Jr., $5,000.
I direct my executors to take the $50,000 left by my father to Yale College and add to it enough, not exceeding $50,000, to build on the campus such a building as they may think needed, to be known as the Phelps Refectory, Dormitory, or Hall.
The witnesses to the will are Almon Goodwin, 128 West Nineteenth Street, New York; Robert S. Greene, Elizabeth, N.J.; Henry Thompson, 244 East Eighth Street, New York.
The New York Times, New York, NY, July 20,1894, page 5
