or otherwise restore to principal such premium or excess,
however large.
 
     Fourteenth: Any dividend regularly payable in the stock
of the corporation or association declaring or authorizing
the same in respect of any stock held by the Trustees shall
be considered income and may be sold by the Trustees, and
all such stock dividends or proceeds from any sale thereof
shall be distributed as income. Any occasional or irregular
dividend payable in the stock of the corporation or
association declaring or authorizing the same in respect of
any stock held by the Trustees shall not be distributed as
income but shall be retained by the Trustees as part of the
principal of the trust funds. All cash dividends of any
kind and nature whatsoever, excepting liquidating
dividends, received by the Trustees on any shares of stock
held hereunder shall be treated as income.
 
     FIFTEENTH: I hereby nominate, constitute and appoint my
son, James Roosevelt, and my friends, Basil O'Connor, Esq.,
and Henry T. Hackett, Esq., as Executors of this my Last
Will and Testament, and as Trustees of the trusts herein
created.
 
     If any of said persons named as Executors shall not
survive me or shall fail to qualify, or, having qualified,
shall resign, die or become incapacitated, as Executor
hereunder, then I nominate, constitute and appoint as a
co-Executor hereunder such bank or trust company having a
principal office for the transaction of business in the
City and State of New York as the remaining Executors or
Executor
herein named, or their successor or successors, shall, in
their sole discretion, appoint.
 
     If any of said persons named as Trustees shall not
survive me or shall fail to qualify, or, having qualified,
shall resign, die or become incapacitated, as Trustee
hereunder, then I nominate, constitute and appoint as a
co-Trustee hereunder such bank or trust company having a
principal office for the transaction of business in the
City and State of New York as the remaining Trustees or
Trustee
named herein, or their successor or successors, shall, in
their sole discretion, appoint.
 
     Sixteenth: I hereby expressly direct that no bond or
other security shall be required of said Executors or
Trustees, or any of them, in this
 
FDR
 
 
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