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SMITHSONIAN INSTITUTION  810
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deed of gift, but it is deemed to be the fair construction of the bequest that the objects subsequently acquired under its terms which were to constitute a part of the Freer Collection should be maintained in the same manner as those for which the deed of gift specifically provides.

"Q. 2. Does the language of paragraphs 18, 19, and 20 of the Freer will require the incomes specified as solely applicable to certain objects to be regarded: 1. As the income of the specified capital sums named; 2. As the income of the particular shares of stock named: 3. As fixed incomes of the magnitude assignable under usual trust fund conditions to the capital sums named? If interpretation (3) is defensible, should not profit and loss of stocks mentioned in paragraphs 18, 19 and 20 go to the general Freer bequest? In view of the fluctuation of stocks and incomes it would obviously be advantageous if the third construction could be adopted."

Paragraphs 18, 19 and 20 of the Freer will are as follows:

"Eighteenth: I have heretofore given, by deed of gift and by bills of sale, to the Smithsonian Institution, an establishment created by Act of Congress, a collection of objects of art, and I have further given said Smithsonian Institution One Million Dollars ($1,000,000) to be used in the erection of a building to house the said collection, which building is now in process of construction, and have further given said Smithsonian Institution Two Thousand (2,000) shares of the capital stock of Parke, Davis and Company, a Michigan corporation, to be used, if necessary, for the completion of said building and the complete furnishing and equipment thereof. In addition to the gifts last above mentioned, I give and bequeath to said Smithsonian Institution capital stock of said Parke, Davis and Company of the market value at the time of my death of Two Hundred Thousand Dollars ($200,000). The cash dividends on said stock, or the income derived from the proceeds of the sale thereof, shall be used by the Regents of said Institution solely for the purpose of hiring a competent curator, whose first service shall be the faithful oversight, intelligent exhibition and careful protection of the collections transferred by me by deed of gift or bills of sale or bequeathed by this Will to said Institution."

"Nineteenth: I give and bequeath to said Smithsonian Institution the sum of Two Hundred Thousand Dollars ($200,000) of the capital stock of said Parke, Davis and Company, at the market value thereof at the time of my death, the cash dividends on said stock, or income derived from the proceeds thereof, to be used by the Regents of said Institution for the creation of ornamental gardens within the court and corridors of said building and on the grounds immediately surrounding it, and for the purchase of suitable American statuary, including permanent wall panels, for erection at appropriate places in said court and corridors and I request the Regents of said Institution to consult fully with Mr. Charles A. Platt, the architect of the building now under erection, concerning the choice of materials to be used and the sculptors employed. The architectural features involved in this bequest I ask the said Regents to entrust to the aforesaid Charles A. Platt."

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