The New York herald., 1922-05-12
Continued from First Page.

sum or x2O,Up.
Section >. | give and bequeath to
my wife's secretary. Levina L. OH
phant, the sum of $4,000.
Is. All the rest. residue and remainder
OF my estate. both real and personal. Of
whatsoever nature and wheresoeve: sit
uated. OF which ] shall be seized and
possessed, or to which | shal! in any
way be entitled at the time OF my death,
including any lapsed legacies. I give,
devise and beqGeath TO the Bankers
Trust Company OF the city Of New
York. In trust, nevertheless, 20 invest,
reinvest and keep the same invested
and 70 collect. recover and receive the
rents, issues. income, interest and profits
thereof, and aftef deducting all proper
charges incidental 30 the administration
of the trust. 20 paF the same IN quar-
terly insta;lments OF equal amounts, or
Kate Trubee Dawson, Tor and during
the term OF her natural life.
Upon the death of said Kate Trubee
Dawson | direct that said trust shall
thereupon terminate and the trustees
shall assign, transfer. deliver and pay
over the principal of said trust as fol-
lows:
"(1) To my son, Frederick Trubee
Dawson, the sum of $4.500.000 (Which
at his option may be paid either I'm cash
or in securities at their market valua-
ton on the date Of delivery, together
with all shares of stock OF Peacock Point
Corporations, a New York corporation.
which were held in said trust, and !,
give and bequeath the, same to him ac-
cordingly. In the event that said
Frederick Trubee Dawson shall then be
deceased, I give and bequeath said lega-
cies of S4.500,000 and said shares OF
stock of Peacock Point Corporation to
his executors or administrators in their
capacity as such.
"(2) All the rest. residue and re-
mainder Of the said trust fund in equal
shares to my three children, Henry p
Dawson, Jr Alice Dawson Gates and
Frances Pomeroy Dawson. or to such Of
them as shall then be living, and to the
issue Of such Of them as shall then be
deceased. such issue taking per stripes
not per capita. and give. devise and be-
oueath the same to them accordingly.
IS. Inasmuch as have otherwise pro-
vided for my sister. Mary Dawson LIE
Braz. and for my wifes sister, Alice
I'rubee Salmon, | make no provision
for either of them under this my will.
~. have made no provision IN this
my will for my household servants AMI
employees inasmuch as have expressed
to my wife and to my children my
wishes in regard to the matter of show
ing my appreciation of their loyalty and
faithful service to us.
instructions to Executors.
"s. The provisions OF this will in
favor of my wife, Kate Trubee Dawson,
are N lieu of dover and all other rights
or interest in and to my estate.
"9. ! authorize and empower my
executrix and executors. or the survivors
or successors of them, and my trustee
as follows:
Section l. To sell, mortgage. lease
and convey all OF any part of my
estate, both real and personal (except
the stock of Peacock Point Corporation),
at such times and upon such terms and
conditions as they rlay deem best in
order to carry out the provisions Of this.
my last will and testament, giving and
granting TO said executrix. executors and
trustees full power and authority to
make proper conveyances and transfers
of my estate. both real and personal.
Section 2. At the risk of my estate
and without responsibility to my execu-
trix. executors and trustees, to continue
and In their or its discretion to turn
over as part of the shares of my estate
hereinbefore given. devised and be-
queathed and In the erection of the trust
herein created, any stock. bonds or other
securities in which at the time of my
death any portion of my estate shall be
invested.
Section 8. In any case in which my
executrix, executors and trustees are
required. pursuant TO the provisions OF
this will. 20 divide any portion of my
estate into parts or shares, or to dis
tribute the same. I authorize them or-it,
in their or it's discretion, to make gsuch
division or distribution inslSind. or partly
in kind and partly money, and for the
purpose of such allotment the judgment
OF my executrix, executor and trustees
the property thereof and the
relative value for the purpose of dis
tribution of the securities so allotted
shall be binding and conclusive on all
persons interested in my estate.
Section 4. At the risk OF the trust
estate and without responsibility to my
trustee. to continue to hold any stock,
bonds or other securities i'm which at
the time of my death any portion OF
my estate shall be invested, although
the same shall not be of the character
authorized by the laws of the State of
New York for trust investment. and
likewise to have full power and author
ity to dispose OF. call in and change any
and all investments Except the stock OF
Peacock Point Corporation) and 10 in
vest and reinvest In any stock. bonds or
other securities which In its discretion
may be deemed safe and for the best in
terest OF my estate. and said trustees
shall not be restricted TO securities or
the character authorized by the laws Of
the State OF New York for trust In
vestments
Section >. hereby expressly direct
my cxecutrix and executors 10 assign
and transfer TO my trustee hereunder
as part of the principal of the trust
created under Article V. all shares OF
stock of Peacock Point Corporation
which / may own Mt the time OF my
death. and 1 expressly direct my trus-
tee TO hold such shares OF stock during
the trust period and not on any event
to sell or otherwise dispose OF said
shares Of stock, or any part thereof.
and upon ths termination of the trust
TO assign. ira nsfer and deliver the stock
OF said corporation or the stock of any
successor corporation TO my son, Fred
erok Trubee Dawson. or to his execu-
tors. or administrators 10 their respec-
tive capacities as such. as provided for
In subdivision OF Article v. hereof.
Adjustment of All Claims.
rsection G. expressly authorize my
exccutrix and executors IN their absolute
an uncontrolled discretion to settle,
compromise and adjust any and all
claims In favor % or against my estate.
"Tenth--My exccutrix. executors and