DBW:HP   1&7   12/26/40   689

STATE OF ILLINOIS COUNTY OF DE KALB

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SS.

IN THE CIRCUIT COURT OF DE KALB COUNTY

IN THE MATTER OF THE ESTATE OF	}	GENERAL NO. 15295
HENRY S. DAVIDS, DECEASED

1. On or about February 2, 1888, Henry S. Davids, of Sandwich, Illinois, duly made, executed and published his last will and testament, a true copy of which is hereby attached, marked Exhibit "A", and by this reference made a part of this petition. Thereafter, on or about February 8, 1888, said Henry S. Davids died, leaving his last will, by the terms of which a trust was created for the benefit of his daughter, Charlotte Judd Davids, and certain other persons.
2. After the death of said Henry S. Davids, said will was duly proved and admitted to probate in the County Court of DeKalb County, Illinois. Thereafter, in accordance with the terms of said will, letters testamentary were issued to one J. Phelps Adams, who was appointed executor of said will. Said J. Phelps Adams thereafter administered the estate of said Henry S. Davids, and made distribution of the residue of said estate to himself as trustee under said will.
3. By paragraph Fourth of said will, said testator [Henry Davids] bequeathed and devised to said J. Phelps Adams all the residue and remainder of his estate in trust to support, educate and provide for said Charlotte Judd Davids until she should arrive at the age of twenty-one years, then to pay over to said Charlotte Judd Davids the income from said estate for and during the period of her life. Said will provided further that upon the death of said Charlotte Judd Davids, leaving lawful issue, the trustee should pay to such issue, or the legal guardian or guardians of the same, all the residue and remainder of said estate with the accumulations and increase thereof.
4. Said J. Phelps Adams acted as trustee of said estate during the period of minority of Charlotte Judd Davids following the death of Henry S. Davids, and until she attained the age of twenty-one years. Thereafter, on or about December 11, 1900, said J. Phelps Adams instituted these proceedings by filing his petition for the appointment of himself as testamentary trustee of the estate of Henry S. Davids. On or about January 9, 1901, this court granted the prayer of said petition and appointed J. Phelps Adams as the testamentary trustee of said estate. Said J. Phelps Adams duly entered upon his duties as trustee under the will of said Henry S. Davids and continued to administer the trust estate thereunder until his death in 1904.
5. Thereafter, on or about July 6, 1904, Charlotte D. Edgerton (nee Charlotte Judd Davids), as beneficiary under said will, filed her petition in these proceedings for the appointment of a trustee to succeed J. Phelps Adams. On or about July 6, 1904, this court entered an order appointing George E. Edgerton, the then husband of said Charlotte D. Edgerton, as successor trustee under the will of Henry S. Davids. Said George E. Edgerton duly entered upon his duties as successor trustee under said will and continued to administer the trust estate thereunder until the time of his death, on November 5, 1937.
6. On July 20, 1938, said Charlotte D. Edgerton filed a petition in these proceedings reciting the matters and things herebefore stated and praying for the appointment of a trustee to succeed said George E. Edgerton as trustee under the will of said Henry S. Davids. Due notice of the presentation of said petition was served upon all parties in interest. Upon the filing of said petition, this count entered an order appointing this petitioner [Calvin D. McKay] as successor trustee under the will of Henry S. Davids, and fixing the amount of petitioner's bond, as such successor trustee, in the sum of $1000.00.
7. Thereafter, on July 20, 1938, the individual bond of petitioner, as successor trustee under the will of Henry S. Davids, in the penal sum of $1000.00 was duly approved by this Honorable Court and filed with the Clerk of this Court. Thereupon petitioner duly entered upon his duties as successor trustee under said will and ever since has administered the trust estate thereunder.
8. On September 13, 1939, said Charlotte D. Edgerton died leaving four children surviving as her lawful issue, to-wit: Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, and Florence Edgerton Purkey, and two grandchildren, to-wit : Ruth Ann McKay, daughter of petitioner, and Wendell Purkey, the son of Florence Edgerton Purkey. Said Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, and Florence Edgerton Purkey are all of the children ever born to said Charlotte D. Edgerton, and said Ruth Ann McKay and Wendell Purkey are all of the children ever born to said Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, or Florence Purkey [apparently Florence secretly bore another, Russell, put up for adoption]. Said Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, and Florence Edgerton Purkey are each of legal age. Said Ruth Ann McKay is an infant [in 1940 Ruth was 17 years old], and said Wendell Purkey is an infant.
9. Said Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, Florence Edgerton Purkey, Ruth Ann McKay, and Wendell Purkey are the only persons in being who, under any construction of said will, have any present or contingent interest in said trust estate.
10. Said will provides in part as follows :
    
    • "THIRD : Upon the death of my daughter, leaving lawful issue, to pay over to such issue or the legal guardian or guardians of the same, all the said Estate and property, with the accumulations and increase thereof, then remaining in the hands of said Executor or Trustee."

    Petitioner desires the aid of this Honorable Court in the construction of said will, for the determination of the members of the class entitled to share under said will as lawful issue of said Charlotte D. Edgerton.

11. Petitioner is filing herewith his First Current Report and Account as successor trustee under the will of said Henry S. Davids. As set forth therein, petitioner has on hand at the present time the sum of $5,163.47 cash, and, in addition, the following securities :
    • Certificate No. 83 representing 70 shares of The Loomis Trust (a trust estate), dated August 23, 1938, without par value. Said 70 shares have a present market value of approximately $6.00 a share, or $420.
    • Certificate of Deposit No. 183 respresenting a deposit of 6% First Mortgage Bonds in the principle amount of $1,700.00 of The Southport, executed by William T. Geary, dated August 22, 1938. The Southport-Irving Building Corporation, an Illinois Corporation, the owner of the equity in the property forming the security for said first mortgage bonds of The Southport, is now in the process of reorganization under the provisions of the Bankruptcy Act, in the United States District Court for the Northern District of Illinois, Eastern Division, Case No. 69200. A Plan of Reorganization has been approved by the court in said proceedings which provides for distribution to petitioner, and other holders of Certificates of Deposit for said first mortgage bonds, of trust units in a liquidating trust. Under said plan, 17 trust units will be distributed upon the claim of petitioner filed in said proceedings. Petitioner is advised by brokers dealing in unlisted securities in Chicago that the present market quotation on Certificates of Deposit of The Southport $1.00 bid and $2.00 offered on each unit of $100.00 represented by said certificates. Upon this basis the value of said certificate No. 183 would be approximately $17.00. The consummation of the proceedings in said case No. 69200 might result in an increase in the value of this asset.
    • Certificate No. 166 representing 10 shares of the capital stock of California Safe Deposit And Trust Co., dated November 19, 1896, on a par value of $100.00 per share. Petitioner is informed and believes, and upon such information and beliefs states the fact to be, that said California Safe Deposit And Trust Co. became insolvent on or about November 1, 1907, and was thereafter dissolved ; and that said 10 shares of its capital stock have no value.
12. The issue of said Charlotte D. Edgerton, as determined by this court, are presently entitled to receive their pro rata shares of the assets comprising the subject matter of the trust estate. Because of the speculative value of the assets in said trust estate, other than cash, petitioner desires the aid and direction of this court in determining when, and upon what conditions, final liquidation and distribution shall be made of said assets.
13. The Joinder of Appearance of Calvin D. McKay, George Emmet Edgerton, Charlotte Edgerton Lane, Florence Edgerton Purkey, Ruth Ann McKay, and Wendell Purkey, attached hereto and by this reference made a part hereof, confers jurisdiction of this court over all the parties having any interest under the will of Henry S. Davids, as the lawful issue of Charlotte D. Edgerton (nee Charlotte Judd Davids). Petitioner respectfully represents that an order should be entered herein appointing a guardian ad litem for the protection of the interests, if any, of Ruth Ann McKay and Wendell Purkey, the infant grandchildren of said Charlotte D. Edgerton, in the matter of this petition.
14. Under the provisions of   "An Act concerning compensation of trustees" as amended (Ill. Rev. Stats. 1939, Chap. 148, Sec 31), petitioner is entitled to be allowed and paid from the assets of the trust estate a reasonable compensation for his services as successor trustee under the wiull of Henry S. Davids. In addition, petitioner is entitled to pay a reasonable fee out of said assets to his attorneys, Seyfarth and Atwood, and to take credit therefore in his Report ad Account, for the services rendered by said attorneys to petitioner in connection with the preservation and administration of the trust estate created under said will. Petitioner has filed herewith his petition for the allowance of such fee to said attorneys, and there is annexed thereto a statement of the services rendered by said attorneys to George E. Edgerton, as successor trustee under said will, to Charlotte D. Edgerton, as beneficiary thereof, and to petitioner.

[A]	That an order be entered herein appointing a guardian ad litem of Ruth Ann McKay and Wendell Purkey, in the matter of this petition.
[B]	That this Honorable Court construe and declare the true meaning of the will of Henry S. Davids, so as to determine the members of the class comprising the "lawful issue" of Charlotte D. Edgerton (nee Charlotte Judd Davids) who are entitled to receive pro rata shares of the assets of the trust estate created under the will.
[C]	That this Honorable Court determine the manner of distribution, whether partial or complete, to be made by petitioner to such "lawful issue" at the present time.
[D]	That an order be entered herein confirming the appointment of petitioner as trustee under the will of Henry S. Davids approving petitioner's Current Report and Account, filed herewith ; and fixing and allowing to petitioner a reasonable fee as compensation for his services as such successor trustee.
[E]	That an order be entered herein fixing and allowing the fee of the law firm of Seyfarth and Atwood, for services rendered by said firm to George E. Edgerton, as successor trustee to Charlotte D. Edgerton, as beneficiary thereof, and to petitioner, in the preservation and administration of the trust estate created under said will, and authorizing and directing petitioner to pay said firm said fee, taking credit therefore in his Report and Account.
[F]	That this Honorable Court may grant petitioner such other and different relief as may be equitable in the premises.

_______________________________________________
Successor Trustee under the Will of Henry S. Davids

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Attorneys for said Successor Trustee.

Know all men by these presents, That I, Henry S. Davids, aged forty-eight (48) years, now a resident of Sandwich in the county of De Kalb and State of Illinois, being of sound [mind] and memory, and not acting under the influence of any person whatsoever, do make, publish and declare this my last Will and Testament as follows :

First	I direct that all legal claims against myself and my estate be fully paid and satisfied.
Second	All the jewelry and personal effects formerly belonging to my deceased wife (a portion of which is now in possession of her father Calvin Brown of San Francisco, California) I give and bequeath to my daughter Charlotte Judd Davids.
Third	My clothing and uniforms, watch, sword, instruments, insignia, badge, books, cane, epaulettes and similar personal effects, a portion of which is also in possession of Calvin Brown, I give to Walter G. Adams to be retained by him and disposed of among my friends as he shall see fit, the same to be delivered to him by my executor hereinafter named on his personal receipt.
Fourth	All the rest, residue and remainder of my estate, both real and personal and of any kind and nature whatsoever, of which I may be possessed or to which I may be entitled at the time of my decease, I give and bequeath, grant and devise to J. Phelps Adams, Esq. of Sandwich in this County and State - who is hereinafter named as Executor of this Will In Trust for the following purposes :
Fifth	To support, clothe and suitably educate and provide for in all needful and proper ways, my daughter Charlotte Judd Davids, who is now of the age of twelve years, until she shall arrive at the age of twenty-one (21) years, it being my especial desire that she shall have the benefit of first class school training and instruction.
Sixth	To pay over to my said daughter, after she shall have arrived at the full age of twenty-one (21) years from time to time, and as often as once in each year, all the income and interest derived from my said Estate, after deducting necessary expenses, lawful commissions and other proper and lawful charges, for and during the period of her natural life, upon her own personal receipt therefore.
Seventh	Upon the death of my said daughter, leaving lawful issue, to pay over to such issue or the legal guardian or guardians of the same, all the said Estate and property, with the accumulations and increase thereof, then remaining in the hands of said Executor or Trustee.

Eighth	In the event of the death of my said daughter without lawful issue then living - I direct that the whole estate and property then remaining, with the increase thereof, shall be divided into twenty one (21) equal parts - and the same shall be distributed as follows : To my sister, Emeline Cox, five parts. To her daughter Mary E. Adams, five parts. To my nephew, Henry A. Cox, two parts. To my neice, Mary Oscar Davids, two parts. To my neices Ella Landis and Alice O. Landis, each one part. To my nephews, Leray Vermilye and Oscar Vermilye, each one part. To my neices, Maria Weir, Jessie Woodward, and Kate Potter, each one part. In the case of the death of any of these persons before such distribution shall be made, I direct that the Estate be distributed among the survivors in the proportions above given.
Ninth	It is my earnest wish that my said daughter should be and remain with my own personal relative until such time as she may have a home of her own by marriage or otherwise, and that she should make her home in the family of Walter G. Adams (whose wife is my neice) both of whom have at my request kindly consented to make a home for her in their family, but inasmuch as their residence is now out of the State of Illinois, and for that reason, said W. G. Adams could not act as guardian of my said daughter, as would be my wish, I hereby nominate and appoint J. Phelps Adams, Esq. aforesaid, guardian of my said daughter, during the full period of her minority. I direct that no part of the income or interest arising from my said estate shall be paid over to my said daughter, after she reaches the age of twenty one years, as hereinabove provided, if she shall take up her residence at any time, and so long as she shall reside, with either her grandfather, Calvin Brown - or his wife, or any one of his sons, or his daughter, or if she shall place her property or business interests or any part thereof under his or their control or management. [bold face added in August 2001] My daughter understands my wishes in this regard, and I trust she will dutifully respect and observe them.
Lastly	I hereby nominate and appoint my friend J. Phelps Adams, Esq. of Sandwich, aforesaid sole executor of this my Last Will and Testament and it is my express will and direction that he be not required to give Bond or Security as such Executor - or as Trustee of my Estate, or as guardian of my said daughter. I also authorize and empower him as such Executor to bargain and sell and by suitable deed or deeds, dispose of and convey to such person or persons as he may see fit, and for such a price as hee shall deem adequate and sufficient, any and all Real Estate belonging to me at my decease. I direct that my Estate, so far as may be shall be kept until final disposal thereof, in good interest bearing securities special care being taken that the same may be safe and reliable.

In testimony whereof I have hereto set my hand and affixed my seal this second day of February, A.D. 1888.

[signed and sealed] Henry S. Davids

[signed] S.B. Stinson, residing at Sandwich, Ills.
[signed] E.A. Manchester, ditto ditto