Tilden Trust

The Tilden Trust was founded, in accordance with provisions of the will of Samuel Jones Tilden (1814-1886), to "establish and maintain a free library in the City New York." It was incorporated by an act of the New York State Legislature on March 26, 1887.

The Act of Incorporation made the executors of Tilden's will, Andrew H. Green (1820-1903), George W. Smith (1836-1921) and John Bigelow (1817-1911), permanent members of the board of trustees of the Tilden Trust, and authorized them to appoint other trustees. On April 26, 1887 they appointed Alexander E. Orr (1831-1914) and Stephen Walker (d.1893). Lewis Cass Ledyard (1851-1932), the lawyer for the executors of the will, was appointed to the board on April 23, 1893 to fill a vacancy left by the death of Walker.

The officers of the board of trustees were: John Bigelow, president; Andrew H. Green, vice-president; George W. Smith, treasurer. L.V.F. Randolph, who was not a member of the board, was the secretary.

In 1887, relatives of Samuel J. Tilden initiated legal proceedings to challenge the 35th clause of his will, which directed that most of his estate be turned over to the Trust. The New York State Supreme Court upheld the validity of the will in a special session in 1889, but reversed the decision in a general session later that year. The Tilden Trust appealed this decision to the Court of Appeals. Before the court reached a decision, however, the Trust reached an out of court settlement with Laura Pelton Hazard, one of the litigants. She gave up her claim to half of the residuary portion of the Tilden Estate, which had been willed to the Tilden Trust, for a payment of $975,000. On October 27, 1891, the Court of Appeals upheld the ruling that the 35th clause of the will was invalid, with the result that the other half of the residuary portion of the estate went to relatives of Samuel Tilden.

On March 30, 1892, the Tilden Trust reached an agreement with the heirs concerning the division of the remainder of the estate. The Trust received Tilden's books, manuscripts, statues, prints, engravings and pictures; and real estate and investments valued at approximately $2,000,000. Between 1892 to 1895 the Trustees considered numerous proposals for the use of these assets. After considering various possibilities, they decided to merge the Tilden Trust with Astor and Lenox libraries to form the New York Public Library.

These three institutions were legally consolidated on May 23, 1895. In August of 1895 the books belonging to the Tilden Trust were transferred to the New York Public Library. The other assets of the Trust were legally transferred to the New York Public Library at this time, but remained under the control of the executors of Tilden's will until they were liquidated.