THE DIRECTOR'S REPORT. 27 



enjoy the powers and rights recognized under the law of the State of 

 New York as belonging to the Trustee of an express trust. 



12. This deed may be amended by agreement in writing between 

 the Friendship Fund, the Trustee for the time being and the Bene- 

 ficiary, or if the Friendship Fund has ceased to exist by the agreement 

 of the Trustee and the Beneficiary, with the approval of two thirds 

 of the entire membership of the Committee of Review. 



13. The Trustee is authorized to receive and hold under this Deed 

 additional securities, cash and property, pursuant to the terms and 

 conditions hereof. Such additional gifts may be received from any 

 person, corporation or association. The compensation of the Trustee 

 on such additions shall be proportionate to the compensation herein 

 provided. 



IN WITNESS WHEREOF, the FRIENDSHIP FUND, INC., has caused 

 these presents to be executed by its duly authorized officers, and the 

 CENTRAL UNION TRUST COMPANY OF NEW YORK, in token of its 

 acceptance of the trusts herein contained, has caused these presents 

 to be executed by its duly authorized afficers, as of the 22d day of 

 January, 1924. 



FRIENDSHIP FUND, INC., 



(Signed) LAWRASON RIGGS, JR., Signed by CHARLES R. CRANE, 



Secretary. President, 



LAWRASON RIGGS, JR., 



Treasurer 



CENTRAL UNION TRUST COMPANY OF NEW YORK, 



Signed by B. A. MORTON, 



Vice-President. 

 Attest: 



H. L. WILLIAMS, 

 Asst. Secretary. 

 (SEAL) 



WHEREAS, FRIENDSHIP FUND, INC., did on the 22d day of January, 

 1924, make a Deed of Trust to the CENTRAL UNION TRUST COMPANY 

 OF NEW YORK, as Trustee, of certain securities for the benefit of 

 Marine Biological Laboratory, as is more fully set forth in said Deed; 

 and 



WHEREAS, paragraph 13 of said Deed provides as follows: 



"13. The Trustee is hereby authorized to receive and hold 

 under this Deed additional securities, cash and property pursuant 

 to the terms and conditions hereof. Such additional gifts may 

 be received from any person, corporation or association. The 



