“Enq: Then I have been told of several large legacies left to the T.S. One – some £8,000 – was left to it by some eccentric Englishman, who did not even belong to the Society. The other – £3,000 or £4,000 – were testated by an Australian F.T.S. Is this true?
Theo: I heard of the first; and I also know that, whether legally left or not, the T.S. has never profited by it, nor have the Founders ever been officially notified of it. For, as our Society was not then a chartered body, and thus had no legal existence, the Judge at the Court of Probate, as we were told, paid no attention to such legacy and turned over the sum to the heirs. So much for the first. As the second, it is quite true.
The testator was one of our devoted Fellows, and willed all he had to the T.S. But when the President, Colonel Olcott, came to look into the matter, he found that the testator had children whom he had disinherited for some family reasons. Therefore, he called a council, and it was decided that the legacy should be refused, and the moneys passed to their legal heirs.
The Theosophical Society would be untrue to its name were it to profit by money to which others are entitled virtually, at any rate on Theosophical principles, if not legally.”
H. P. Blavatsky