EXTRACTS FROM THE WILL AND CODICILS OF JOHN JACOB ASTOR. WILL DATED, 4 JULY, 1836. CODICIL I. DATED 19 JANUARY, 1838. ADMITTED TO Probate, New YORK, 3 APRIL, 1848. CODICIL III. J, John Jacob Astor, do make this additional Codicil to my last Will, bearing date the fourth day of July, in the year of our Lord eighteen hundred and thirty-six. Desiring to render a public benefit to the City of New York and to contribute to the advancement of useful knowledge and the general good of society I do by this Codicil appropriate four hundred thousand dollars out of my residuary estate, to the establishment of a Public Library in the City of New York. For this purpose, I give to my Executors four hundred thousand dollars, to be taken from my personal estate, or raised by a sale of parts of my real estate, to be made by my Executors with the assent of my son William B. Astor, upon condition and to the intent that the said amount be settled, applied and disposed of, as follows, namely: First, In the erecting of a suitable building for a Public Library. Second, In furnishing and supplying the same from time to time with books, maps, charts, models, drawings, paintings, engravings, casts, statues, furniture, and other things appertaining to a library for general use, upon the most ample scale and liberal character. Third, In maintaining and upholding the buildings and other property, and in defraying the necessary expenses of taking care of the property, and of the accommodation of persons consulting the library. The said sum shall be payable, one third in one year after my decease, one third in the year following, and the residue in equal sums, in the fourth and fifth year after my decease. The said Library is to be accessible at all reasonable hours and times, for general use, free of expense to persons resorting thereto, subject only to such control and regulations, as the Trustees may from time to time exercise and establish for general convenience. The affairs of the Institution shall be conducted and directed by eleven Trustees, to be from time to time selected from the different liberal professions and employments in life, and the classes of educated men. The Mayor of the City of New York, during his continuance in office, and the Chancellor of the State of New York, during his continuance in office, shall always be The vacancies in the number of Trustees occurring by death, resignation, incapacity, or removal from the State, shall be filled by persons appointed by the remaining trustees; the acts of a majority of the trustees at a meeting reasonably notified shall be valid. trustees. All the property and effects of the institution shall be vested in the said trustees. They shall have power to direct the expenditure of the funds, the investment, safe-keeping, and management thereof, and of the property and effects of the institution; also to make such ordinances and regulations from time to time as they may think proper, for the good order and convenience of those who may resort to the library or use the same; also to appoint, direct, control, and remove the superintendent of the library and all librarians and others employed about the institutions. And also they shall have and use all powers and authority for promoting the expressed objects of this institution not contrary to what is herein expressed. They shall not receive any compensation for their services, except that, if any of their number shall at any time be appointed superintendent, he may receive compensation as such. The Trustees shall be subject to the visitation of the proper Courts of Justice, for the purpose of preventing and redressing all mismanagement, waste or breach of trust. And I direct that the said public library be established on my land, at the corner of La-Fayette place and Art street, on the Westerly side of La-Fayette place, in the City of New York, beginning on the Westerly line of Lafayette Place, eightyone feet Northerly from the corner of the house in which my daughter, Dorothea Langdon, now resides, and running thence perpendicular to La Fayette place, one hundred and thirtyseven feet six inches to the alley way in the rear; thence along the alley-way to Art Street; thence along Art street to Lafayette place and thence to the place of beginning, with the right and benefit of way in the alley; which land I direct my executors to convey to the said trustees in fee simple, by such proper assurances as shall secure the land for the purpose of the library, and on condition to be applied and used therefor. And inasmuch as one of the lots so to be conveyed is devised to the children of Mrs. Langdon, I order that Twelve thousand five hundred dollars be paid to the said devisees as a compensation for the lot. And I direct that all the said land hereby appropriated be valued at Forty thousand dollars, and form a part of the said Four hundred thousand dollars. I further direct that a sum not exceeding thousand dollars, may be expended in the erection of the building for the Library. One hundred and twenty thousand dollars may be expended in the purchase of books, and other objects for the establishing of the library, and the residue shall be invested as a fund for the maintaining and gradually increasing of the Library. All investment of the funds of the Institution shall be made in the Public Debt of the United States of Amer ica, or of the States of the Union, or of the City of New York, as long as such subjects of investment may be had, giving a preference according to the order in which they are named. And in case the income of the fund shall at any time exceed the amount which the trustees may find useful to expend for the purposes above named and particularized, they may expend such surplus in procuring public lectures, to be delivered in connection with the Library, upon useful subjects of Literature, Philosophy, Science, History and the Fine Arts, or in promoting, in any other mode, the objects of the Institution as above expressed. I direct my executors to cause and procure the necessary legal assurances to be made for establishing and securing the application of the funds and property hereby appropriated, for the purposes of these presents, and in the mode herein pointed out. And it is my request that the Trustees would apply to the Legislature of this State for such acts as may fully secure, establish and perpetuate this Institution, and render its management easy, convenient and safe, both to themselves and the public. And as this property is devoted wholly to public purposes I trust that the Legislature will so far favour the Institution as to exempt its property from taxation. And as a mark of my respect to the following gentlemen, I name them to be the first. Trustees; that is to say, the Mayor of the City of New York, and the Chancellor of the State, for the time being, in respect to their offices; Washington Irving, William B. Astor, Daniel Lord, Junior, James G. King, Joseph G. Cogswell, Fitz-Greene Halleck, Henry Brevoort, Junior, Samuel B. Ruggles, and Samuel Ward, Junior. CODICIL V. Third, In relation to the Library provided for in my Codicil, bearing date the twenty-second day of August, eighteen hundred and thirty nine, I have concluded to change the site thereof; and I therefore direct that the land in that Codicil appropriated for this purpose be discharged therefrom; and so much of the said Codicil as appropriates the site for the said Library and the compensation to be paid for it is hereby revoked; and instead |