Page:The Wizard of Wall Street and his Wealth.djvu/284

 *ceive, pay and apply the income thereof to each child for life, with power to each to dispose of the same by will in favor of issue, and in case of death without issue the share of the one so dying to go to the surviving brothers and sisters and to the issue of any deceased child, share and share alike, per stirpes, and not per capita.

He directed that these trusts should be kept separate and distinct, and that the accounts thereof should be kept separately; that no deduction should be made by reason of any gifts or advancements heretofore made to or for any of his children.

In case of difference of opinion among the executors and trustees as to holding and retaining securities or investments in managing the estate, he directed that so long as there shall be five executors and trustees the decision of four should be conclusive, and when four the decision of three should be conclusive, with this further provision in the codicil of November 21, 1892:

"The better to protect and conserve the values of my properties, it is my desire, and I so direct and provide, that the shares of any railway or other incorporated companies at any time held by my executors and trustees or my said trustees, shall always be voted by them or by their proxies at all corporate meetings as a unit; and in case my said executors and trustees or my said trustees do not concur as to how such stock shall be voted, then, in view of the fact that my son George J. Gould has