The old merchants of New York City / by Walter Barrett.

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THE OLD MERCHANTS

claiming any shares as Devisee, Executor, or Administrator, shall be entitled to the profits thereof, or
to sell, or transfer the same, or to vote in respect thereof,
until the Will, and Letters Testamentary, and Letters of
Administration, by which such Claims shall be made,
shall be recorded in the proper Office in the State of New
York, and a Registry entered thereof in the said Book
of Registry of Transfers by the said Committee.
Sixthly. That the present Trustees, in whom the Fee
Simple of the said Land and Premises is now vested,
shall, as soon as conveniently may be, execute such
Declaration or Deed as Counsel shall advise, as necessary
and proper to answer the several purposes aforesaid.
Seventhly. That when the said Trustees, in whom
the Fee Simple of the said Land and Premises, shall by
Death be reduced to less than Three, the said Committee
for the time being shall give notice thereof, in at least
two of the Newspapers printed in the City, and request
the then Owners of the several shares to meet together
at the said Coffee House, at a certain time therein to be
mentioned, not less than Ten Days from the first publication thereof, to nominate and elect Five other Persons
to be Trustees for them; and such Five Persons as
shall at such Meeting be elected, by a majority of the
Votes of the said ownlers so met, shall be the Trustees
for the whole of the said Owners: And the Survivors
or Survivor of the present Trustees shall thereupon on
demand, in due form of Law, convey the said Land and
Premises, with the Appurtenances, unto such new
Trustee, and the Survivors and Survivor of them, and
the Heirs of such Survivors upon the like Trust as
aforesaid, with a Covenant therein to be inserted, that
if such new Trustees, shall by Death be reduced to less
than three, before the said Nominees shall by Death be
reduced to less than seven, that then the Survivors or
Survivor will, in due form of Law, convey the said
Land and Premises, with the Appurtenances, unto five
other Trustees, to be chosen in the manner aforesaid,