I, Charles M. Hall, of the City of Niagara Falls, New York, do hereby make, publish and declare this my LAST WILL AND TESTAMENT in manner following, viz:
ITEM I. I direct that I be buried in the family plot, being several lots in Section "E" in Woodland Cemetery, at Oberlin, Ohio, and that my grave be marked by a suitable headstone, uniform with those now on the plot, and I prefer to be buried on the easterly side of said plot in alignment with the graves now there. I further authorize my Executors and Trustees, hereinafter appointed, to reserve a fund of Two Thousand Dollars ($2000.00), the income of which shall be applied by them to the care and maintenance of such family plot, and I further authorize them to arrange with some solvent and responsible trust company, or such other responsible corporation as will take upon itself such trust, or with The Oberlin Cemetery Association, for the taking over and continuance of such care and maintenance by transferring to them the said fund of Two Thousand Dollars ($2000.00) and any accumulations thereof to be perpetually held and administered as a trust fund, the income to be used for such care and maintenance.
I further give and devise unto my three unmarried sisters, or any one of them, the right of burial in lot No. 12, Section "E" in said family plot, provided that they shall arrange for the erection, at their respective graves, of a headstone to correspond in form, design and character of stone with the headstones erected by me at the graves of my father and mother, and provided that their graves shall be in alignment with the other graves upon said lot or lots owned by me in said cemetery.
ITEM II. I give and bequeath to the Board of Trustees of Oberlin College, a corporation of the State of Ohio, the best four (4) paintings in my house; also all antique Chinese porcelains and any rugs, up to the number of fifty (50), and such antique Indian and Mexican weaving, such as Navajo blankets, which I may own at the time of my death, as the said Trustees may desire to receive hereunder, all of the same to be selected under expert advice for the art department of the said Oberlin College. Only such rugs, weavings and blankets are to be selected as are suitable or desirable for museum purposes, and all are to be kept by said College for such purpose and not to be sold or used for ordinary purposes of wear.
I direct that the articles hereby bequeathed to said corporation shall be so marked as to show they were bequeathed to said College by me.
I further direct that said articles shall be properly eased or hung, plate glass cases being provided for the finer Chinese porcelains, and suitable glass cases for the finer rugs-the expense of such casing and hanging to be paid out of the income of the residue of my estate hereinafter bequeathed to said The Board of Trustees of Oberlin College, and that suitable provision be made from said bequest for the perpetual care of such articles, in order to preserve them from moths, handling by visitors, or other menaces thereto, it being my desire that they be preserved unimpaired for the benefit of future generations.
ITEM III. I give and bequeath to my brother, George Hall, all of my books. I give and bequeath all my furniture and articles of household use, including pictures, rugs and all personal effects, such as jewelry, clothes, medals, etc., other than those herein otherwise bequeathed, and not including automobiles, in equal portions to my sister, Emily B. Stimson, my sister-in-law, Elizabeth K. Hall, my nephews, James P. Stimson and Henry M. Hall, and my nieces, Edith Stimson Paterson, and Yeoli Stimson Acton, or the survivor or survivors living at my death, and I direct my Executors, hereinafter named, to make division of said articles among said legatees.
ITEM IV. I GIVE AND BEQUEATH:
To Jean Wadsworth, now a member of my household, One Thousand Dollars ($1000.00) in cash and an annuity of Five Hundred Dollars ($500.00) per annum for the term of her natural life;
To Harold Lee Rogers, chemist now in my employ, the sum of Three Thousand Dollars ($3000.00) in cash;
To William Davidson, now my chauffeur, the sum of One Thousand Five Hundred Dollars ($1,500.00) in cash;
To my physician, Dr. William H. Hodge of Niagara Falls, New York, the sum of Ten Thousand Dollars ($10,000.00) in cash.
To my aunt, Mrs. Ellen Ruggles, of Cleveland, Ohio, an annuity of One Thousand Dollars ($1000.00) per annum, during the term of her natural life;
To my aunt, Mrs. Emily West, of Wellington, Ohio, an annuity of Six Hundred Dollars ($600.00) per annum during the term of her natural life;
To my cousin, Alice M. Foote, now of South Hadley, Massachusetts, an annuity of Five Hundred Dollars ($500.00) per annum, during the term of her natural life;
To my cousin, Eunice L. Foote, of Oberlin, Ohio, an annuity of Four Hundred Dollars ($400.00) per annum, during the term of her natural life;
To Alice M. Whitsey, of West Dover, Ohio, an annuity of Seven Hundred Dollars ($700.00) per annum, for the term of her natural life. At her death, if her mother and sister survive her, to the said mother and sister the said annuity of Seven Hundred Dollars ($700.00) for and during their joint lives, and to the survivor of them during her life, if such survivor shall be the mother, if the survivor be the sister to the said sister an annuity of Six Hundred Dollars ($600.00) per annum during her natural life;
To the Trustees of Niagara Falls Memorial Hospital the sum of Twenty Thousand Dollars ($20,000.00) in cash; also a fund of Fifty Thousand Dollars ($50.000.00), which fund shall be known as the "William H. Hodge Fund" and shall be held by the said Trustees, and by the addition of income thereto allowed to accumulate for the space of Fifty (50) years, without use of said income, the amount thereof to constitute an Endowment fund, in honor of Dr. William H. Hodge, the income of which shall be used after such period of Fifty (50) years for the support and maintenance of said hospital. It is my will that the Trustees shall have the right to use the interest or income accruing upon interest or income during said Fifty (50) years for the general purposes of said hospital, but not the annual direct income on said principal sum of Fifty Thousand Dollars ($50,000.00)
To the Trustees of The Schauffler Missionary Training School of Cleveland, Ohio, Twenty-five Thousand Dollars ($25,000.00) in cash;
To The Young Men's Christian Association of Niagara Falls, New York, Ten Thousand Dollars ($10,000.00) in cash;
To the Village Improvement Society of Oberlin, Ohio, the sum of Five Thousand Dollars ($5000.00), to be paid to it, or Trustees for its benefit, when it shall raise an equal amount, all to constitute an endowment fund and the income only to be used for the purposes of the Society;
To the Trustees of Oberlin College all the land of which I may die seized or which may be held for my use and benefit in the Village of Oberlin or the Township of Russia, Lorain County, Ohio, subject to the uses and purposes hereinafter explained in Item IX of this will.
I direct that my Executors and Trustees, hereinafter named, shall pay the said direct legacies, in this Item provided, aside from annuities, as soon as convenient after my death, and that said legacies if not paid within One (1) year from my death shall draw interest at the legal rate from and after the termination of such period of One (1) year.
I direct my Executors and Trustees, hereinafter named, in their sole and absolute discretion, out of the proceeds of my personal estate, to purchase from responsible companies annuities for the various persons enumerated above in this Item of my will, or, at their discretion, to set aside and turn over to themselves as Trustees, under a separate trust for each of the said annuitants, such securities as will in the judgment of my Executors secure the sum required for the payment thereof, or to arrange with my residuary legatees, hereinafter named, for the transferring of sufficient securities, in the ratio of my residuary gifts, or with any one or more of them for accepting their obligation to hold said securities in trust for the payment of said annuities. At the death of each annuitant such securities shall belong to said residuary legatees, as hereinafter provided for the residue of my estate, unless otherwise agreed by my Trustees under the powers herein conferred upon them.
ITEM V. I GIVE AND BEQUEATH:
To my sister-in-law, Elizabeth K. Hall, the sum of Ten Thousand Dollars ($10,000.00) in cash, with the advice and request that she keep said sum within her personal control;
To my sister, Emily B. Stimson, the sum of One Hundred Thousand Dollars ($100,000.00), to be held by my Executors and Trustees in trust, to pay to her the income at the rate of Five Per Cent. (5%) per annum during her natural life. On the death of my sister the principal sum of One Hundred Thousand Dollars ($100,000.00), without increment, shall be divided as follows:
To my nephew, Henry M. Hall, the sum of Twenty-five Thousand Dollars ($25,000.00) in cash. If he should not be living at my death said sum shall be divided amongst his children, or if any are deceased, their issue, per stirpes, and his widow, share and share alike, or the survivors of them;
To my nephew, John M. Hall, the sum of Twenty-five Thousand Dollars ($25,000.00), to be held in trust by my Executors and Trustees until he shall reach the age of twenty-five years, the income to be paid to him in the meantime at the rate of Five Per Cent (5%) per annum. In the event of his death, either before or after my decease and before reaching the age of twenty-five years, said principal shall be divided amongst his children him surviving, or if any are deceased, their issue, per stirpes, and his widow, share and share alike, or the survivors of them;
To my nephew, George William Hall, the sum of Twenty-five Thousand Dollars ($25,000.00), to be held in trust by my Executors and Trustees until he shall reach the age of twenty-five years, the income to be applied to his support, maintenance and education until he becomes of age, and thereafter paid to him at tile rate of Five Per Cent (5%) per annum. In the event of his death, either before or after my decease, and before reaching the age of twenty-five years said principal shall be divided equally amongst his children, or if any are deceased, their issue, per stirpes, and his widow, share and share alike, or the survivors of them;
To my niece, Alice M. Hall, the sum of Five Thousand Dollars ($5000.00) in cash, and an annuity of One Thousand Five Hundred Dollars ($1,500.00) per annum, during the term of her natural life;
To my nephew, James P. Stimson, and my nieces, Edith Stimson Paterson and Yeoli Stimson Acton, each the sum of Thirty Thousand Dollars ($30,000.00) in cash. In case of the death of any of them, before my decease, leaving issue, the share of such deceased nephew or niece shall be paid to the issue him or her surviving. In the event of the death of James P. Stimson, without issue, but leaving a widow the sum of Fifteen Thousand Dollars ($15,000.00) shall be paid to his widow;
To my nephew, Louis Stimson, the sum of Ten Thousand Dollars ($10,000.00) in cash, to be paid to him on his reaching the age of twenty-five years, the income to be paid to him in the meantime at the rate of Five Per Cent (5%) per annum. In the event of his death, either before or after my decease and before reaching the age of twenty-five years, said principal shall be divided amongst his children, or if any are deceased, their issue, per stirpes, and his widow, share and share alike, or the survivors of them;
To Edward Acton, husband of my niece, Yeoli Stimson Acton, to Joseph D. Paterson, husband of my niece, Edith Stimson Paterson, and to Irene Merrick Stimson, wife of my nephew, James P. Stimson, the sum of Ten Thousand Dollars ($10,000.00) each in cash.
It is further my will and desire that in the event any legatee or legatees under this will shall bring any action or take any proceedings looking to the setting aside, amendment or alteration of the terms hereof, other than the construction of said will such legatee or legatees shall forfeit all interest under the terms of this will, and any legacy or legacies thus forfeited shall pass to my residuary legatees.
I have made slightly larger provision in this will for my sister, Emily B. Stimson, and her family than for my brother and his family, for the reason that during my life time I have given much more to my brother, particularly in the form of stock in the Aluminum Company of America, than to her or her family.
I have not made any bequest or devise to my sisters, Edith M. Hall, Julia B. Hall and Louie A. Hall, for the reason that they are already abundantly provided for and any addition to their property would increase their anxieties and not add to their happiness.
ITEM VI. I direct that all indebtedness of any of my relatives to me evidenced by any notes or other form of indebtedness shall be cancelled and discharged. It is also my will that a note now held by me of J. C. Morgan for One Thousand Dollars ($1000.00), or any renewal thereof in whole or in part, shall be delivered to him.
ITEM VII. I give and bequeath to Arthur V. Davis, now President of the Aluminum Company of America, Two Hundred (200) shares of stock of the Aluminum Company of America, as a token of my esteem and of my appreciation of his loyalty to my interests and his valuable services to the Company. Should the said Arthur V. Davis qualify and serve as Executor and Trustee under this will, he shall have the right to take his legal fees in Aluminum Company stock at the book value thereof at the time such fees become due, or in cash, subject to the terms of ITEM XIII of this will.
ITEM VIII. I direct that all transfer and inheritance taxes on all legacies, either of income or principal, shall be paid by my estate and that no deductions shall be made on amount of said taxes.
ITEM IX. I give, bequeath and devise the residue and remainder of all property, real and personal, of every name and nature, wheresoever situate and whenever acquired, of which I may die seized, or to which I may be entitled at the time of my death, including any legacies, annuities or trusts which may lapse, and after the payment of the above legacies and providing for the above annuities and the debts and expenses of administration and all taxes, including transfer and inheritance taxes, if any, to Arthur V. Davis, of Pittsburgh, Pennsylvania, and Homer H. Johnson, of Cleveland, Ohio, and their respective successors hereinafter provided for, in trust, for the period of Fifteen (15) years from the date of my decease, or during the lifetime of the eldest two of my nephews living at the time of my decease and the survivor of them, if said survivor shall die before the expiration of said Fifteen (15) years, for the following uses and purposes, and with the following powers, to-wit;
To receive and collect the income and profits of all my stock and other securities and the rents, issues and profits of any other property, after application thereof to the purposes above mentioned;
To take an account of the value of all of my property, outside of the capital stock of the Aluminum Company of America, held by me, and to add to the amount of all of such property, after the payments hereinabove specifically provided for, the entire income of my estate, until such property in their hands shall amount to the sum of Eight Hundred Thousand Dollars ($800,000.00). When they shall have in hand said sum in cash or securities in their judgment adequately worth the said amount, they shall assign, transfer and deliver the said amount, or the securities in which it may be at the time invested to the Board of Trustees, of Oberlin College, which sum shall be received by said Board of Trustees of Oberlin College for the following uses and purposes, to-wit;
Two Hundred Thousand Dollars ($200,000.00) shall be held as an endowment fund and the income shall be applied to the following purposes;
(b)To provide for the care, maintenance and development of the College campus, in accordance with the conditions hereinafter set forth with reference to such campus, and also all of the land acquired and held by the College abutting upon streets immediately surrounding the campus;
(c)For the care, maintenance and development of any lands heretofore given by me to the said College, in accordance with the said deed of gift;
(d)For the care, maintenance and development as parks, recreation grounds, forestry preserves or like purposes, of all lands acquired by the college under this will, except lands on East Lorain Street in said Village. All such lands shall be kept and maintained for such or similar purposes for the benefit of the students in said College and residents in the City of Oberlin, under suitable regulations to be made by such Trustees; shall not be used for buildings of any description, other than ornamental buildings or decorative structures which are not intended for ordinary use and occupancy and such lands shall not be used for College athletic purposes. It is my hope that the portion of the Johnson estate already given by me to the College, with any adjoining properties which I may give to it for the purposes of a park or forest, and which may be used in conjunction with it, shall be made into an arboretum, laid out in a scientific manner with representative trees and shrubs from all over the world, so far as the same will grow successfully in the climate of Oberlin, and that the other lands in the western part of the village of Oberlin which shall pass to the College under this will, or by deed of trust or direct gift from me shall be forested with representative and valuable trees, particularly of North American varieties, and perpetually maintained as a forest or forests in the wild state, with suitable walks and drives but I see no reason why mature trees should not be cut from time to time if replaced with young trees and some income derived from forest products of these lands. It is also my hope that suitable provision may be made for the encouragement of bird life on these lands by building nesting places for song birds, providing feeding, sheltering and watering places, etc.;
(e)For the care, maintenance and development of the lands on East Lorain Street in said Village of Oberlin or Township of Russia, which lands may be used or disposed of by the Trustees, in their discretion, at any time, with the hope on my part that if any part thereof be sold it may be improved for the benefit and to the advantage of the Village of Oberlin and the residents therein. Nothing herein contained, however, shall be taken as a condition of the title to the said property on East Lorain Street.
The remaining Six Hundred Thousand Dollars ($600,000.00) of said fund, with any income accumulated therefrom, shall be used by the said Trustees of Oberlin College for building, equipping, furnishing, and endowing a large auditorium for the uses of the said College, not including the cost of the land on which said auditorium may be placed, to be erected, if practicable, on land opposite the easterly side of the campus, as near as may be to the location of the present town hall, the character, cost and location of the said building to be subject to the discretion of the Trustees, though it is my hope that they may erect in good, substantial and artistic manner such auditorium, including the purchase of a suitable organ, for about the sum of Five Hundred Thousand Dollars ($500,000.00), leaving One Hundred Thousand Dollars ($100,000.00) as an endowment fund, the income of which shall be used for the maintenance and upkeep, improvement or enlargement of the said building. The plans and specifications for the building, its location, the choice of an architect (though I hope the present College Architect, Mr. Cass Gilbert, or a successor, in case of his inability to act, of as high standing in the profession, may be chosen) and the contract or contracts for such building shall all be submitted to my Trustees and subject to their approval. The use of the said auditorium shall be subject to the exclusive discretion and control of the Trustees of Oberlin College, for the general purposes of the College and the community and the development thereof in all forms of education. This endowment, however, is not intended as an endowment for any religious organization using the building regularly, and any such organization or union of organizations should pay to the College sufficient to cover the cost of heating, lighting and a proper proportionate amount of the upkeep.
I desire to have said building erected and maintained as a memorial to my mother, Sophronia Brooks Hall, and request that a marble tablet be placed in some suitable location in said building, satisfactory to my Trustees and inscribed substantially as follows:
SOPHRONIA BROOKS HALL,
THIS BUILDING WAS ERECTED BY HER SON
CHARLES M. HALL.
(Year of completion.)"
After the fund of Eight Hundred Thousand Dollars ($800,000.00), herein provided for, shall have been paid or transferred to the Trustees of Oberlin College, my Executors and Trustees shall then pay the net income from my said property, one-third to the Board of Trustees of Oberlin College, of Oberlin, Ohio; one-sixth to the Trustees of Berea College of Berea, Kentucky; one-sixth to the American Missionary Association and one-third shall be retained by my said Trustees for the purpose, in their sole and absolute discretion, of applying such income for educational purposes in the following foreign countries, to-wit: Japan, Continental Asia, Turkey and the Balkan States in Europe. Such income shall be applied in such manner and through such agencies as to my Trustees may seem best. They shall have power to make gifts for the founding, development, support or maintenance of educational institutions already established or which may in the future be established or maintained by any agency in their judgment thought to be fitted for such purpose. It is my desire, however, that such institutions should be limited to those managed or substantially controlled by Boards composed of Americans or British, and also that no part of it should be used for the purpose of instruction in theology, though it is not my desire that it may not be devoted to institutions, a part of whose work consists in imparting religious instruction. It is also my will that none of my gifts herein made to the Board of Trustees of Oberlin College, or the income thereof shall be used for the purposes of a theological seminary conducted by said Board. It is also my wish that no part of my gifts to the Board of Trustees of Berea College, or to the American Missionary Association shall be used for instruction in theology, although it may be used in schools in which theology is taught. I make these limitations for the teaching of theology, for the reason that I believe others are interested sufficiently in those purposes to carry on the work in Oberlin and abroad, without assistance from me, and I prefer to confine my gifts to other branches of education. It is also my wish that no part of my gift to the Trustees of Berea College be used for the education of the colored race, inasmuch as my gift to the American Missionary Association may be largely applied to the education of such race.
ITEM X. Upon the termination of the period of trust hereinbefore created in my Trustees by the expiration of said term of Fifteen (15) years, or by the death of the survivor of my said nephews prior to that time, I hereby direct my said Trustees to assign, transfer and deliver all of the property in their hands, and in such form as it may then be, as follows: One-third to the Trustees of Oberlin College, one-sixth to the Trustees of Berea College of Berea, Kentucky, one-sixth to the American Missionary Association, to be held by them as endowment funds, as hereinafter more fully described, the income thereof to be applied to the general uses of said legatees. The balance of said trust fund shall be applied by my said Trustees for the purpose of education in foreign lands, to-wit: Japan, Continental Asia, Turkey and the Balkan States in Europe, in such manner and through such agencies as to my Trustees may seem best. They shall have power to make gifts for the founding, development, support or maintenance of educational institutions already established, or which may in the future be established or maintained by any agency in their judgment thought to be fitted for such purpose. It is my desire, however, that such institutions should be limited to those managed or substantially controlled by Boards composed of Americans or British, and also that no part of it should be used for the purpose of instruction in theology, though it is not my desire that it may not be devoted to institutions a part of whose work consists in imparting religious instruction.
My Trustees shall be fully discharged from all liability for the administration of the said one-third so retained by them on showing to the court to which they shall be responsible, the application of all of said moneys left in their hands, as hereinafter provided.
With reference to the gift of one-third of my residuary estate to the Trustees of Oberlin College, and with specific reference to the sum of One Million Dollars ($1,000,000.00) thereof, I hereby provide that to the extent of One Million Dollars ($1,000,000.00) in value the bequest to said Oberlin College shall be in consideration of an agreement on the part of the said Board of Trustees of Oberlin College that they will use, occupy and maintain the plot of ground now known as the College campus and bounded by North Main Street, West Lorain Street, South Professor Street and West College Street, free of buildings or structures, for college or other use, except such as may be purely ornamental, thus not excluding from such campus, fountains, colonnades or other decorative structures not intended for use or occupancy, or a band stand or rostrum to be used solely for furnishing open air music or a place for open air public speaking, and subject to its use substantially as it has been used up to this time, apart from buildings, under such rules, regulations and restrictions as the said Board of Trustees may from time to time direct, and that they shall, as a condition precedent to receiving such sum of One Million Dollars ($1,000,000.00) make such legal provision carrying out the terms of their agreement as shall be satisfactory to my executors and Trustees, and in the event that said Board of Trustees of Oberlin College shall fail to enter into the agreement provided for above, then and in that event the said sum of One Million Dollars ($1,000,000.00) so bequeathed to them shall be distributed as follows, to-wit: One-fourth to the Trustees of Berea College of Berea, Kentucky, one-fourth to the American Missionary Association and one-half to my Executors and Trustees for educational purposes in foreign lands, upon the terms and conditions hereinbefore recited for their guidance in its application. It is my desire that in the event of the failure of the Trustees of Oberlin College to enter into the agreement above referred to, the legacy to said Trustees shall be diminished by the sum of One Million Dollars ($1,000,000.00), but that this provision shall not annul the bequest to the said Trustees of Oberlin College of the balance of the bequest to them over and above said sum of One Million Dollars ($1,000,000.00).
Provided further with reference to my entire residuary bequest in this Item to Oberlin College, it is my will and desire that if, at the time of my decease, the laws of the State of Ohio require the taxation of college endowments in the form of stocks in corporations foreign to the State of Ohio, or in bonds or other credits, my Trustees, during the trust herein provided for, may pay the share of the income herein bequeathed to Oberlin College to the Trustees thereof, or may permit the said income to be added to the principal and accumulate during the term of this trust or until such time as the State of Ohio shall permit such College property to be free of taxation. My Trustees shall be permitted to apply such income to the support and maintenance of Oberlin College, if in their discretion they see fit to do so, but the said College shall have no right to demand such income; and in case of any attempt on the part of the State of Ohio, or any sub-division thereof, to tax said income before it is paid to said College, such payments shall cease and be added to the fund in the hands of my Trustees. Upon the termination of the trust, provided the law of Ohio shall require the taxation of endowment securities as above set forth, the share herein bequeathed to Oberlin College, to-wit, one-third (1/3) of my residuary estate, shall be transferred to a foundation incorporated under the laws of the State of New York, in such manner and in such form as my Trustees shall elect. One of the provisions therein shall be that a majority of the trustees of such foundation shall be members of the Board of Trustees of Oberlin College, residing in the State of New York. The said foundation so caused to be incorporated by my Trustees shall accept the gift herein provided for, upon the following trusts: To apply the net income from said property to the support and maintenance of the work of Oberlin College at Oberlin, Ohio, in such manner and to such an extent as the said foundation in its discretion shall deem wise, but without any right or power in the said Oberlin College or its Board of Trustees to demand any payment to it or to enforce such application. They shall have power also to assign and transfer to said Board of Trustees of Oberlin College any or all of said income or any and all of the principal held by them, provided the laws of the State of Ohio shall not require the taxation of such property as part of the endowment of said College, and if any part of the principal is transferred by the said foundation to said Board of Trustees of Oberlin College, it shall be subject to all of the terms of this will with reference to the residuary bequest herein set forth. Any part of such income not paid to the Trustees of Oberlin College or used and applied for the benefit thereof, as herein provided, may be added to the principal in the possession of such foundation, and all such principal and income not so paid or applied in its discretion may be used for such educational purposes, not theological, as to said foundation may from time to time appear to be for the best interests of the human race.
ITEM XI. It is my will and desire that my holdings of stock of the Aluminum Company of America, shall be retained intact, so long as possible, by my Trustees, believing that such holding is for the best interests of my estate. I, however, authorize my said Trustees, at any time during the period provided for the said trust, if in the judgment of both, after full investigation, it shall be for the best interests of my estate to make a sale of the whole of the stock of the Aluminum Company of America belonging to my residuary estate and terminate said trust, or to sell any portion of said stock, and I hereby authorize my said Trustees to manage and control said stock of the Aluminum Company of America, during the term of said trust, to vote thereon at all meetings of stockholders, in their discretion, to assent to or oppose any reduction or increase of the capital stock of said Company and in case any increase of said capital stock is voted to exercise or assign any privilege which may be given to stockholders, to take any share of said increased stock and in general, as holders of said stock, to exercise all the powers and privileges possessed by stockholders in said Company.
ITEM XII. If for any reason the trusts, or any of them, created by this will shall be judicially declared invalid, then I give, bequeath and devise the residue of all property, real and personal, of every name, and nature, and, wheresoever situated and whenever acquired of which I may die seized, or to which I may be entitled at the time of my death, or any part thereof, or which may be a part of my estate at any time thereafter, the use and purposes of which may be declared invalid, including any legacies or provision for annuities which may lapse, and after the payment of all my debts, the expenses of administering my estate, all transfer and inheritance taxes herein provided for, the payment of all specific legacies given under this will and proper provision having been made for the payment of all annuities provided for herein, in such manner that one-third of such whole shall go to the Board of Trustees of Oberlin College in the State of Ohio, one-third to the American Board of Commissioners for Foreign Missions, one-sixth to the Trustees of Berea College, of Berea, Kentucky, and one-sixth to the American Missionary Association, all for the purposes of endowment, the income only to be used for the educational objects of the said legatees.
I give to my said Executors and Trustees full power and authority to invest, re-invest and deal with my said property, including the right and power to develop any inventions by me made and apply for patents thereupon for the benefit of my estate, to use any part thereof for the purchase of annuities, as above provided, or the making of any other provisions for the carrying out of the directions of my will for the benefit of the beneficiaries hereunder. In case any of my inventions are developed by my Trustees after my death, I direct that their compensation with reference to profit derived from said inventions, aside from those which may belong to the Aluminum Company of America, be increased to Ten Per Cent (10%) in the case of Arthur V. Davis, if one of my Trustees, said Ten Per Cent (10%) however, to include the profits from any interest I may have given him in such invention or inventions prior to my death for his assistance, provided he gives a substantial amount of time and energy to developing and exploiting such inventions, and to Five Per Cent (5%) of the profits of such inventions to anyone else serving as my Trustee.
ITEM XIII. I appoint Arthur V. Davis of Pittsburgh, Pennsylvania, and Homer H. Johnson of Cleveland, Ohio, Executors of this my LAST WILL AND TESTAMENT and Trustees of the trusts hereby created. In case of the failure of said Arthur V. Davis to qualify as Executor, or in case of his death before said trust shall have been terminated, I appoint Robert E. Withers, now Treasurer of Aluminum Company of America, as Executor and Trustee in his place. In case of the failure of said Homer H. Johnson to qualify as Executor, or in case of his death before said trust shall have been terminated, I appoint Charles W. Morrison of Oberlin, Ohio, as Executor and Trustee in his place.
Said Executors shall receive as compensation for all services the fees allowed by law, but shall not receive fees both as Executor and Trustee--it being my intention and will that but one set of fees shall be paid to each one of them, and the qualifying by any of them as Executor or Trustee shall be deemed an acceptance of the conditions herein imposed.
Said Homer H. Johnson shall have the privilege of taking his commissions in stock of Aluminum Company of America, at the book value thereof at the time such fees become due (it being understood that he is to take said stock to be held as an investment), one-fourth thereof six months after my decease, one-fourth thereof on settling his accounts as Executor, and the balance on settling his accounts as Trustee.
ITEM XIV. I hereby revoke all former wills by me made.
Dated November 1st, 1914.
The foregoing instrument, consisting of seventeen pages, was on the day of the date thereof subscribed by CHARLES M. HALL, the testator therein named, in our presence, and he at the time of making such subscription declared the same to be his LAST WILL AND TESTAMENT; whereupon we, at his request, and in his presence, and in the presence of each other, subscribed our names as witnesses thereto.
(Signed) ELIZABETH GAMBLE, living at Niagara Falls, N. Y.
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