HALF A MILLION OF MONEY.

Southland Times, Volume III, Issue 246, 25 April 1866, Page 3

HALF A MILLION OF MONEY.

BY THE AUTHOE, OF " BABBABA'S HISTOB.Y." , " ' AND I hereby declare my Will to be that my said Trustees shall receive the annual Income of the said Trust Fund, and lay out and invest such Income in their names in the purchase of Government Securities, and repeat such receipts and Investments from time to time in the nature of Compound Interest during the space of One Hundred .jears from the date of my decease, and that such accumulations shall continue and be increased until the same, with the original Trust Eund, shall amount to, and become in the aggregate, one entire clear principal sum of NINE MILLION POUNDS Sterling^and upwards, AND I DESIRE that the same entire clear Principal Sum shall thenceforth be, or be considered as, divided into two equal parts, AND I GIVE One equal half part thereof unto the direct Heir Male of the Eldest Son of my Eldest Son, in total exclusion of the younger branches of my Family and their descendants. AND as4o the other equal half part of the said entire Principal Sum, I " DIRECT my said Trustees to apply and dispose of the same in manner following (that is to say) IN the first place, in purchasing within the liberties of the City of London a plot of Freehold Ground of sufficient magnitude, and erecting thereon, under the superintendence of some eminent Architect, a Handsome and Substantial 1 Building, with all suitable Offices, to 'be

caUed " THE LONDON TEEEALDEN BENEVOLENT INSTITUTION." " ' AND in the next place, in affording pecuniary aid as well permanent as temporary to decayed Tradesmen, Mercantile Meny Ship -Brokers, Stock Brokers, ji|por Clergymen, and Members of the Legal and Medical Professions, and the Widows and Orphans of each of those Classes respectively, and if thought fit, to advance Loans without Interest to honest but unfortunate Bankrupts. "With 1 full power to receive into the Institution a limited number of poor and deserving Persons being Widows and Orphans of. Citizens ,of London, and to maintain, clothe, and educate them 'so long as the Trustees shall think proper. " ' And in order that such Institution may be^properly established and may be managed and supported in a satisfactory manner, I request my said Trustees to prepare a scheme for the permanent Establishment and support thereof, and to submit the same to the Master of the EoUs for his approval. PEOVIDED ALWAYS that in case there shall be no such Male Heir in the direct line from the Eldest Son of my Eldest Son, then I direct" my said Trustees to apply the firstmentioned half of the said entire principal sum in founding lesser Institutions of a similar kind to the above in Manchester, Liverpool, Bristol and Birmingham for the Benefit of the several classes, of persons above enumerated and all which Institutions it. is my Will shall be governed by the same Laws and Eegulations as the original Institution or as near thereto as circumstance will permit. ITEM I GIVE all the rest and residue of my Eunded Property Eeady Money and Securities for Money Merchandise Debts Pictures Plates Furniture and all other my Property not otherwise disposed of by this my Will (but subject, to the payment of my debts Legacies Funerals and Testamentary expenses) TJNTO my said three. Sons in equal shares a'nfl in ease any dispute shall arise between them as to the division thereof the matter shall be referred to my Executors whose decision shall be final. LASTLY I APPOINT my friends Eichard Morton, Erasmus. Brooke, Daniel Shuttle worth, and Arthur . Mackenzie all of London, General Merchants, to be the Executors of this my Will. IN' WITNESS whereof I the said Jacob Trefalden have hereunto set my hand and seal the day and year first above written. "'Jacob Teffalden. " 'Signed sealed published and declared by the above named Jacob Trefalden as and for his last Will and Testament in the presence of us who at his request and in his presenee,have subscribed our Names as Witnesses thereunto. ■ ' " ' Signed " 'Nathaniel Mueeat. 4 " ' Aiexandee Lloyd.'" Mr Beavington laid down the will, and took- off" his glasses. The brothers sat staring like men of stone. William Tre-, falden was the first to speak. " I shall dispute this will," he said, looking very pale, but speaking in a firm, low tone. • "It is illegal." "It is d d unnatural, infamous swindle," stammered Mr Fred, starting from his seat, and ..shaking his . clenched fist at the open document. "If I had known what a cursed old fool " " Hush, sir, hush, I entreat," interposed the lawyer. " Let us respect the dead." " Zounds ! Mr Beavington, we'll respect the dead," said Captain Trefalden, bringing his hand down heavily upon the table ; " but I'll be hanged if we'll respect the deed ! If it costs me every penny of the paltry five thousand, I'll fight this matter out, and have justice."-. - " Patience, brother Jacob — patience, brother Fred," said the youngest Tre' falden: " I tell you both, the will is illegal." " How so, sir ?" asked the lawyer, briskly. " How so ?" " By the Mortmain' Act passed but a few years since " "In seventeen hundred and thirty-six, statute nine of his present Majesty King George -the Second," interposed. Mr Beavington. " — which permits no land, nor money for the purchase of land, to be given in trust for the benefit of any charitable uses whatever." The lawyer nodded approvingly. " Very true, very true — very well remembered, Mr Will," he said, rubbing his hands ; " but you forget one thing." "What do I forget?" "' " That a. citizen of London may, by the custom of London, devise Land situate in London in Mortmain ; but he cannot devise Land out of the city in Mortmain,' and for that quotation I can give you chapter and verse, Mr Will." Mr Will put his hand to his head with a smothered groan. " Then, by Heavens !" said he, tremulously, "^tis all over." It was all over, indeed. Mr Fred had spoken truly of the pride which Jacob Trefalden took in his fortune. Great as it was, he resolved to build it yet higher, and sink its foundations yet more broadly and deeply. To leave a -colossal inheritance to an unborn heir", and to found a charity which should perpetuate his name through' all time, were the two projects nearest and dearest to that old man's heart. He had brooded over them, matured them, exulted in them secretly, for many a past year. The marriage of Captain Trefalden in November, 1759, only hastened matters, and legalised a foregone conclusion. Well was it for Jacob Trefalden's sons that his fortune amounted to that odd twenty-five thousand pounds. The Half Million had slipped through their fingers, and was lost to them for ever.