Clipped From The Journal News

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 - D Monday, physicians Tuesday avenue small James...
D Monday, physicians Tuesday avenue small James p. m. by answered of Tuesday. JAS. K, CULLEN WILUS FILED No Estimate Given On Value of Manufactur- er's Estate and ind the St. ic- re- danc- at A son, William Barnes Cullen and a grandson, James K. Cullen II, received the bulk of the estate of James K. Cullen, president the Niles Tool Works company, according to the will which was for probate here Wednesday. The will was made May 10, 1924. in York and names the wife, the and the Farmers Loan and Trust company, of New York, executors. Had she survived, the widow would have received all ol the estate. She preceded her husband in death. The will gives lo the son his' pictures, bronzes, marbies, household goods, furnishings, clothing and jewelry with the exception n f his watch, chain and seal ring, which arc given to the grandson. Residence property at 141 South D street is given to the son, Barnes Cullon. The real estate on North B street goes to the grandson. Residue of (he estate is divided into six shaves, three of which to the son. He is also to receive net income from one-sixth uf said residue. The will provides in case of his, that income accumulate for the grandson, the accumulation to be paid him when he reaches the age of 21 and from then on until he is 26, to be the net income. At 26 he would receive the principal. From another one-sixth of the residue, one-half of the net income goes to the grandson until he is and thereafter an amount equal to that net Income paid to him for life. The other one-half of the income goes to the daughter-in-law, Ruth Smyers Cullen, with a. provision that in case of her death remarriage, her share of the income to go to her son. Income on the remaining one- sixth is to accumulate for the grandson until he is 21, when the accumulation Is to be paid to him, then the Income until he Is 26 and (hereafter for life. The will provides that Inheritance taxes lie paid by the executor or trustees who are authorized to reappraise or revalue the residuary special result Rule a the of defeated direct of The l '.'Oise estate from tlm e to time. Tlie trustees are authorized to :aiu his stock In the Niles-Beniont- Pond company, the Pratt and Whitney company and the Nil's Tool Works, in which he had substantial nvestment. Th c trustees, however, are given authority to sell the f they deem it to tile best interest of the estate. If extraordinary dividends arc laid in the way of additional stock t is to become part of the Trustees are also authorized, bj 'irtue of holding stock in ilia companies, to enter reorganization or recapitalization plans of the various companies. Thc Community Home for t Aged and the Y, M. C. A. are mentioned in the will, ns bsneficiarles in case of failure of several of the one-sixth residuary interests to vest for want of the beneficiaries named In the will, to take, by reason ol death. The will Is mi extensive document and makes extended provisions foi disposition of the estate in the that the widow, son and grandson had preceded the testator In denth The son. William Barnes Cullen and the Farmers Loan and Trust company, of New York, arc named trustees. Carnegie Institute has authorized money for further exploration of Nevada's prc-lilstoric caves, Call 2080 and ask an ad-taker to Insert an ad for you in the Classi- ned Ad columns of the Daily You 11 be surprised at the quick results. Chicago plans to eliminate unnecessary noise In its new =nu- \vays. Beauty, performance, rufffcrfn --yon get them all In Dodge Bros. Sixes and Eights. New, economical Hnsncc p'an makes buying easy ?/."« Wclborn Co - new loratl 321 Market St.

Clipped from
  1. The Journal News,
  2. 13 Aug 1930, Wed,
  3. Page 3

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