Page:Federal Reporter, 1st Series, Volume 4.djvu/688

 674 FEBEBAL BSPOBTEB. �but chiefly of valuable stocks and bonds. He left a will appointing his brother Dr. Frederick Marx, bis nephew Ed- ward Mayo, botb of Eichmond, and another who never qualified, his executors, and àlso trustees for the trusts created by bis will; and devised to Frederick Marx, and cer- tain of his adult nephews, certain portions of his estate in absolute right, and to his executors the residue thereof ; but charged them as trustees, as to these portions, with certain trusts in favor respectively of Judith Meyers, Harriet M. Etting, Caroline Barton, and Adeline Mayo, his married sis- ters then living; and of certain daughters of his deceased sisters Louisa Myers and Frances Etting. He directed ail his real estate and personalty to be sold as soon as possible àfter his death, and those proportions of the proceeds which were not devised absolu tely to be invested in good and secure stocks, with power in the trustees to couvert them into other stocks, the securities to be taken in the names of the executors for the beneficiaries named in the will, and to show on their face for whose benefit they were respectively to be held; and provided that these securities should have the charactçr of realty in the eyent of the death of those entitled. �Frederick Marx was the only one of those named as exe- cutors who qualified shortly after the death of Samuel Marx, which he did on the thirteenth December, 1860. He seems to have filed an appraisement of the estate in due time, according to law, and to have accounted regularly, before a proper commissioner, as to his transactions for the years ending December 13, 1861; December 13, 1862; December 13, 1863 ; and for the subsequent period ending September 7, 1864. I believe that it is admitted that he made the sales and investments required by the will in good faith ; no fraud being charged or pretended in regard to any of his transactions. �On November 26, 1864, up to which time Frederick Marx had acted as sole executor and trustee, he turned over to Ed- ward Mayo, who had then ]ust qualified as executor and trustee, ail the stocks, bonds, funds, and estate in his hands. ����