NEWS BY THE MAIL.

Globe, Volume IV, Issue 325, 28 June 1875, Page 3

NEWS BY THE MAIL.

JAMES LICK’S DEED OF TRUST.

The San Francisco convspo 'dent of an Auckland contemporary writes on May 23id : —Nothing of very special interest has occurred during the month to engross qhe attention of our citizens. One of the chief topics was the new deed of trust of James Lick, who some weeks since revoked a deed of trust, made last year, conveying to seven trustees all his property for public benefits. He requested the trustees, men of the highest standing, to resign, but the Trustees, under the advice of attorneys, declined to resign, but instituted legal proceedings, asking the Court to relieve them of their trust. In the meantime Mr Lick’s lawyers have been busy preparing anew deed changing some of the provisions of the former donations. In the following instances no alteration has been made :—25,000d0l to the Protestant Orphan Asylum of San Francisco ; 25,000d0l to the city of San Jose, for the purpose of building and supporting an orphan asylum in that city ; 25,000d0l to the Ladies’ Protection and Relief Society of this city ; 10,000dol to the Mechanics’ Institute, for the purchase of scientific and mechanical works for the same ; 10,000dol to the Society for the Prevention of Cruelty to Animals ; 100,000dol to found an institution in this city to be called the Old Ladies’ Home; and 150,000d0l for the establishment and maintenance of free public baths in San Francisco. For the erection of monuments to Mr Lick’s relatives, the appropriations remain the same; 5,000d0l each is deeded for granite monuments to Mr Lick’s father, mother, grandfather, and sister. Only in one instance is there a change in the gifts to relatives. In the former deed Mr Lick’s son, John H. Lick, was donated BOOOdol. He will now receive I5 ,I ,ooodol. The gifts unchanged are 5000dol to his brother, fHenry Lick; 5000dol to his halfbrother, Samuel Lick; 5000dol to his niece, Sarah Helper; 5000dol to his niece, Sarah Lick; 2000 dol to his nephew, James W. Lick of Santa Clara. He also gives, as before, 2000 dol to Thomas E. Fraser, of San Jose. The 700.000d0l which was before put in the hands of trustees for constructing an observatory at Lake Tahoe, and “ procuring for it a telescope of greater power than any yet made,’’ is now bestowed upon the University of California for precisely the same purpose. That is to say, the gift itself is the same, but it is to be applied by what Mr Lick believes to be more competent trustees. The donation of 250,000d0l for the erection at the State Capitol of a group of bronze statuary to represent the history of California, is abolished ; and in its place 100,000dol is given for the erection of statuary in the n-w City Hall of San Francisco. This leaves 150,000d0l of the former donation unapplied. The appropriation of 150,000d0l for the erection of a bronze monument in the Park, to the memory of Francis Scott Key, is reduced to 60,000d01. The 90,000d0l taken from the last-named donation, and the 150,000d0l left unappropriated from the Capitol statuary gift, are to be added to the 300,000d0l formerly appropriated to •* found and endow the California Schools of Mechanic Arts” to be located in this city. The sum of 540,000d0l will therefore now be applied to the establishment of this institution. This with the block of land donated by the city for the use of the school, will constitute all together a magnificent endowment of about 700,000d01. By the first deed Mr Lick reserved for himself the sum of 25,000d0l a year during his lifetime, instead of that he now reserves to himself the lump sum of 500,000d0l over and above his debts and the incumbrances on his property. The interest of this amount and as much of the principle as he chooses to use are at his own disposition . What is left after his death is to go, with the residue of his property after all the other donations are provided for, equally to the Academy of Sciences and the California Pioneers. These two organisations will come into immediate possession of the proceeds of Mr Lick’s estate after provision has been made for all the other benefactions ; and besides that after his death, they will receive what remains of his 500,000d015, which he reserves for his own use. The object of this change is apparent. Under the former deed none of the beneficiaries could receive any benefit until after Mr Lick’s death, because he had a perpetual lien of 25,000d01s a year upon his estate. But under the new arrangement, Mr Lick’s claim will be discharged by the payment to him of the gross sum of 500,000d015, and the remainder of the estate can be at once applied to the purposes intended. The arrangements as to trustees have not yet been adjusted, and some correspondence is still passing on the subject. Mr Lick will, himself, it is supposed, be one of the number. Most of the beneficiaries have given their consent to the new deed, and no doubt is entertained that as cordial an assent will be given by the remainder. Thereafter a speedy accomplishment of the objects of the deed may be looked for.