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their discr~tion daem ~dvigable. ~
(la) To dater~ine ~r:~ethar and to what e=tant reco3pts ~ .
should be deene3 incone ar ~:rincipal, and what other ad~ustments;
~:ould be :.~ade between income and grincipal, provided, however,
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~hat tne Trusteas shall be guided in their allocation o2 reaeipt~
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to ~ncome or principal by the tollowing standardss
(a) Dividend3, interest, rents and other 9lmilar
pay~ents received in ca~h oy the ~rustee9 shall nor~ally be
dealt with as income, whether ordinary or extraordinary and
:+netzer or ~not in the nature o~ .liquidatin~ dividend9 or payaent~
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~ on nining, oil, gas or timber stocks, or leaseholds, patente,
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copyrights, royalty righta, or other sLocks or asnets oP a
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xasting na~ure, a return of capital or a di~tribution Yrom '
depreciation re~erves, tind irrespective o~ any statement the
cor:oratlon, as9ociation or pereon declaring such dividend or ~
na~izg aucn payment may make in rePerence thereto, and (
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irrespective of the cnaracter of the asseta or aceount out o2
ti;aici: ~hey are paid or tne time when they shali have ~ccrued or
acewnulated or ahall have been earned, declared ~;ble, or
~ne time Por the determin.Fition oY the ~ersons entit3.od tnereto;.'
but tae Trusteea sre autnorized in their absolu~e discretion to
:~~l~cate to ~rincipal the :vhole or any part af
any dividend or
,ay~ent ;4hic~ 3n their opinion is extraordinarf or ~r, the nature~ ~
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o~ a li~uidt~ting 3ividand, or payaent o~ a wasting.asset, or
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c::ividend or payment oP a return of capital, or a distribu~ion ~
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_°rom 3epletion reserves. S
(b) D~~vidends paid in and rig:zts ~o subscribe ;
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~o property other than cash, includi secur~ ~ies, :;izether or ~
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:,ot c~ ti:e ~a:~.a corporation, and shares oP stocks received ae ~
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4~e re~ult oP a stock split-up, s.?~d ~ne proceed~ ~rc:~ the sales ~
oi anf suc: right5 or propertf, shQll normaily be dealt Rith a~ ;
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8~ 2l0 ~ 1242
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