The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-03-02


tors to be held by them under the trust in
my will, and at the expiration of the said
period of ten years, if any of my sons OF my
said grandsons, David and Harry Jayne, are
still minors, it is my desire and request that
the said Eben @. Jayne and John r. Walker,
If both be living, and If only one of them be
living, then the survivor shall still continue
the business with the aid of my executors
until such time as my youngest son living
at that time shall arrive at full age of 2l
years and also until my grandsons David
and Harry Jayne, If living, shall be Of full
age, in order to afford each of my said sons
and ssid grandsons an opportunity of be-
coming partners in said firm, should they
so desire it under the restrictions hereinafter
named, and in order the more effectually to
enable my said executors to carry out my
wishes in this respect, authorize them in
case of the death Of the said Eben @. Jayne
or John r. Walker, orin case they or either of
them decline to carry on the said business after
my death, or become incapable from any
cause from doing So to purchase the shares
of the said Eben or the said John, or either
of them in the said business, the same to be
valued and paid for in accordance with the
articles of copartneTship of SAID firm and the
supplements therein. And in the case of
purchase by my executors by reason Of the
death or otherwise of the interest of one of
said partners, then my executors shall carry
| on the business in connection with the other
| partner until my youngest son living, and my
said grandsons, if living, shall arrive at full
age; and if my said executors shall purchase
the shares or interest of both of the said part
ners, then it is my will that my said execu-
| tors shall continue the business until the
period referred to. 1t is my will that as my
said sons De Witt, and Harry LIE Barr, and
| Horace Jayne, and my said grandsons, David
and Harry Jayne, shall respectively arrive
at q years of age, they shall in the order of
| age, be admitted into and become members
| of the said firm; provided they so de-
sire it, and provided also, that my said
executors shall be satisfied that they are
respectively of good moral character and
| qualified and willing to make active and
| useful working members of said firm, and
| subject to the restrictions aforesaid, and
| to the approval of aforesaid executors.
| give and bequeath IA of my said Is
| shares in the said firm to and among them as
| follows To De Witt, 4 shares To LIE Barr
and Horace, each % shares; and to David
and Harry, each % shares; and in case Of
the death of either Of my said sons or grand
sons before arriving at full age, or in case of
either of them declining to enter said firm, or
in case of my executors refusing to admit
either of them for the cause before men-
toned, then the shares of such child or
grandchild so dying or declining, or pre-
vented as aforesaid by my executors, shall
remain to my estate, to be disposed of as is
hereinafter directed; and In case my said ex-
ecutors shall purchase the shares of John r.
Walker and Eben G. Jayne, or either Of
them, as aforesaid, and my sons and grand.
| off q IF ho1
become members of said firm, or shall desire
to form new firm IN lieu thereof, then and
IN such case authorize my said executors tt
sell them the said shares so purchased or helC
by my executors under my will, at the sam
price or rate as they paid for the shares o
the said Eben G. Jayne or John r. Walker
ANY of such sale or sales may be upoI
credit, with an agreement on the part of tn
firm to pay certain portion Of the gross re
ceipts to my executors, until the whole pur
chase money shall be liquidated; and il
case any of the said shares remain IN my
estate unsold, then my executors shall holc
the same, and apply the income thereof
under the trusts in my will, until such time
as they can dispose OF the same, or the said
firm shall be wound up: Provided, how.
ever, land this my express WILL that if my
executors shall at any time be of opinion
aforesaid provisions of my will IN regard to
the continuance of said business, or that it
kwill entail risk or loss to my estate then |
authorize them to close the business at the
expiration of the period fixed in such articles
of copartnership, or sooner, with the con-
sent of the other parties: and they are au-
thorized to cloSerit in the usual way-by
| winding it up, or they may do so by selling
| out the entire interest of my estate therein to
any individual, or firm, or corporation, for
such price or sum as they may be able to OBJ
tain, and upon such terms as to times and
modes of payment as my said executors
| NAV consider most to the interest of nv
estate, the proceeds of such closing up or of
such sale or sales to be held by my executors
under the remaining trusts Of this will and
as to the remaining share (one) in said firm,
| bequeath the income thereof to Wesley
Stretch, now clerk with the said firm, for
such time, anNto longer, as he shall re-
main with said irm, and give the business
his undivided attention, and perform all his
duties in a satisfactory manner to my execu-
tors. 1t is not my expectation or desire
that all my said sons and grandsOns shall
enter into the said firm. | consider three of
them enough to do so, but do not prohibit
any of them /; but at this time it is impossible
for me to say which of them may desire, be
qualified, or live to do so. | therefore give
my executors a discretion as to which of
them to admit but l also authorize my said
executors to distribute all of the said IA
shares among such as they do admit into the
said firm. l think it desirable that those of
nv said sons and grandsons who desire to
enter the said firm shall enter the store as
II L,r, -,