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is the last will and testament of me Samuel Law of Ramsden Wood
near Todmorden in the County of Lancaster, Cotton Spinner. Whereby
I direct my debts, funeral and testamentary expenses to be paid
as soon as convenient after my decease.
I some time ago sold to Messrs. John Law, Eli Hudson and John
Marland my one third share of the Mills, cottages, buildings,
machinery, stock in trade and effects situate and being at Ramsden
Wood aforesaid and elsewhere, the partnership property of me and
my late brothers, Robert and Thomas, as Cotton Spinners and Manufacturers
at Ramsden Wood aforesaid, and it is uncertain whether the contract
of sale will be performed on the part of the purchasers or the
said premises will be sold under a fiat in bankruptcy issued against
them or by virtue of my right of lien on the said premises.
in case the said contract shall be carried into effect or the
said premises shall be sold as aforesaid, unless purchased by
my executors under the power herein after contained I give and
bequeath ten eleventh parts of the purchase money arising therefrom
equally unto all my children (except my son John and my daughter
Susan) for their respective absolute use, and I give and bequeath
the remaining eleventh part thereof unto my sons, Robert and William,
and my son-in-law James Fielden of Square on Trust to invest the
same on Government or Mortgage securities with powers to vary
the same from time to time as may be necessary. And to pay and
apply the dividends or interest thereof to and for the maintenance
and education of my daughter Susan until she attain the age of
21 years, and on her attaining that age on Trust to pay her the
said principal sum or one eleventh part of the same monies for
her own use and benefit, but in case my said daughter Susan should
die before she attain the age of 21 years in trust for and I give
and bequeath the same unto all my said other children in equal
always that in case my said share of the said partnership premises
and effects shall again be offered for sale under the said fiat
or by virtue of my right of lien thereon, I hereby direct that
it shall be lawful for my said trustees, or the survivors or survivor
of them, his executors, administrators or assignees, to purchase
the same if he therefore think fit and for that purpose if necessary
to borrow any money on mortgage thereon.
in case my said Trustees or Trustee should purchase the said premises
under the last mentioned power or in case the said contract shall
not be carried into effect nor the said premises sold as aforesaid,
then I give and bequeath unto my trustees, his executors, administrators
and assignees, and I direct that they or he shall stand possessed
of my share of and in the same partnership premises and effects.
On Trust if they or he shall think fit to carry on at their or
his discretion the said trade of Cotton Spinning and Manufacturing
along with the owners of the other shares of the said premises
and effects for any term not exceeding 14 years.
for that purpose to deal with sell upon credit or otherwise convert
and employ the said premises, stock and other effects and the
produce thereof in the same manner as if they or he were the absolute
owners thereof and with full power to buy all necessary materials,
machines and other articles. And I direct that my said Trustees
or Trustee shall stand possessed of the profits of the said business
on Trust to pay and divide ten elevenths parts thereof to and
amongst my children (except John and Susan) in equal shares half
yearly, and on Trust to pay and apply the remaining eleventh part
for the maintenance and education of my daughter Susan as aforesaid.
always that in case any of my said ten children shall require
his or her share of the said premises and effects hereby bequeathed
to him or her before my said Trustees or Trustee shall cease to
carry on the said business, then I direct that the value of such
child's share shall be ascertained and determined by two persons,
one to be chosen by my Trustees or Trustee and the other by the
child so requiring his or her share, or by an umpire to be chosen
by such two persons, and the amount of such valuation shall be
paid to such child by 4 equal annual instalments or sooner at
the discretion of my Trustees or Trustee, who shall pay to such
child interest after the rate of 5 pounds per cent per annum on
the amount of such valuation, or so much thereof as shall be from
time to time unpaid until the same shall be wholly paid.
in case any of my children shall require his or her share under
the last mentioned provise I direct that he or she shall no longer
be entitled to any share of the profits of the said business,
but the share thereof which he or she would otherwise have been
entitled to shall be paid divided and applied to amongst and for
the use of my said other children (except John) share and share
the end of the said term of 14 years or other earlier period when
my said Trustees shall cease to carry on the business, or in case
they shall not think fit to commence carrying on the same, I direct
my said Trustees or Trustee, his executors, administrators or
assignees, to sell my said share of the said premises, and of
all the stock, capital and effects which shall be then employed
in or belonging to the said business, either by public auction
or private contract and either all together or in parcels and
that they or he shall stand possessed of the monies arising therefrom.
In Trust to pay and I do hereby give and bequeath the same unto
all my children (except my son John and such of my children as
may have received his or her or their full share or shares under
the provise herein before containing, share and share alike, but
I direct that in case any of my said children shall have received
only a part of his or her share at a valuation as aforesaid, he
or she shall receive the remainder thereof out of the said monies
before the same shall be divided amongst my other children.
I also direct that my said Trustees or Trustee shall stand possessed
of my said daughter Susan's share on the same Trusts as are herebefore
declared in her favour with respect to the one eleventh part herein
before mentioned and in case of her death under the age of 21
years, then I give and bequeath the same equally to all my other
children as aforesaid.
give and devise all my one undivided third part of certain freehold
cottages and premises situate at Smales in the said Township to
my said Trustees or Trustee on Trust to sell the same at their
or his discretion by public auction or private contract and to
pay and divide ten elevenths parts of the monies arising therefrom
equally unto and amongst my said children (except John and Susan)
and to pay and apply the remaining on eleventh part thereof to
the maintenance and education of my said daughter Susan.
I direct my executors to sell my household goods and furniture,
or to divide the same at a fair value amongst my children, and
to pay the money arising therefrom to my wife. And whereas my
son John will, at my decease, be entitled to certain freehold
cottages at Square which were devised to my late wife and which
I consider to be of a value equal to the share hereby bequeathed
to each of my other children. Now I declare that this is the only
reason why I have excluded him from receiving any benefit under
this my will except as to my daughter Susan's share in the event
of her dying under the age of 21 years.
I declare that my said Trustees respectively shall not be answerable
for the acts, deeds and defaults of each other, nor for any banker,
broker or other agent, nor for any loss in the said business,
nor for any money, which they respectively shall not actually
receive, nor for involuntary losses. And that each Trustee may
retain and allow to his co-trustees out of any monies which may
come to his hands any expenses to be incurred in the execution
of the Trusts of my will.
appoint my said sons and son-in-law to be executors of this my
will and hereby revoking all former wills by me hereby made. I
declare this only to be my last will and testament. In witness
whereof I the said Samuel Law have to this fourth sheet of this
my will (the whole whereof is contained on 4 sheets of paper)
set my hand this 23 rd . day of August 1845.
Law made his mark
Stansfield, Solicitor of Todmorden
Matthias Law of Ramsden Wood.
of November 1845.
Law and James Fielden, two of the executors in this will named,
were sworn in common form (power being reserved to William Law,
the other executor therein also named to take upon himself to
execute the said will, when he shall lawfully request the same)
and they further made oath that the personal estate and effects
of the testator within the Diocese of Chester were under the value
testator died the 25th. Day of August 1845.
issued 12th. November 1845.