Russell Sage died July 21, 1906. His will is a clear, concise and pointed document, and might well serve as a model of its kind. Under it, safely passed one of the largest fortunes ever accumulated in the United States. It reads:
“I, Russell Sage, of the City and State of New York, do hereby make, publish and declare this my last Will and Testament, in manner and form following:
“First: I direct that all my just debts and funeral expenses be paid as soon after my decease as conveniently can be done.
“Second: I give and bequeath to my sister, Fanny Chapin, wife of Samuel Chapin, of Oneida, New York, should she survive me, the sum of Ten thousand ($10,000) dollars.
“Third: I give and bequeath to each and every of my nephews and nieces of my own blood me surviving, the sum of Twenty five thousand ($25,000) dollars; and in the event that any of such nephews or nieces shall have died before me, leaving lawful issue him or her surviving, then I give and bequeath a like sum of Twenty five thousand ($25,000) dollars to the surviving lawful issue of each nephew or niece so dying before me, the same to be distributed among such issue share and share alike, per stirpes and not per capita.
“Fourth: All the rest, residue, and remainder of my estate, real, personal and mixed, wheresoever situate, of which I may die seized or possessed, or to which I may be entitled at the time of my decease, I give, devise and bequeath to my wife, Margaret Olivia Sage, to have and to hold the same to her, absolutely and forever.
“Fifth: This provision for my wife is to be in lieu of all right of dower in my estate.
“Sixth: I authorize and empower my executors hereinafter named, and the survivors and survivor of them, to sell and dispose of all or any of the real estate of which I shall die seized or possessed, at public or private sale, at such times and on such terms and conditions as they, the survivors or survivor of them shall deem meet or proper, and to execute, acknowledge and deliver all proper writings, deeds of conveyance and transfers therefor.
“Seventh: Should any of the gifts and bequests made by me in the second and third paragraphs of this my will lapse or fail for any reason, I direct that the bequests so lapsing or failing shall go to and form part of my residuary estate, and be disposed of under and in accordance with the provisions of the fourth paragraph of this my will.
“Eighth: I nominate, constitute and appoint my wife, Margaret Olivia Sage; Dr. John P. Munn, of the City of New York; Almon Goodwin of said City, and Charles W. Osborne long my confidential and trusted assistant, the survivors and survivor of them, executrix and executors of this my last Will and Testament.