Title
Deed of Arrangement in relation to the estate of the Rev Daniel Josias Olivier, deceased
i) Sarah Elizabeth Olivier, 2, Cambridge Terrace, Dover, Kent, widow
ii) John Josias Conybeare Olivier, Stellingburgh House, Tonbridge Wells, Kent, Esq
iii) Caroline Mary Olivier, Ellen Olivier, Frances Olivier, 2, Cambridge Terrace etc, spinsters iv) said S E Olivier
Henry Stephen Olivier, Potterne, Wilts, Lieutenant Colonel in the Army
John Charles Conybeare, Lincoln's Inn, Middx, and Coulsden Grange, Surrey, Esq
reciting above will and codicil
Georgiana Arnold survived the testator and is now living.
iii) have all attained 21
Whole of estate of the Rev D J Olivier not specifically disposed of is not sufficient for the payment of his general legacies and of sum of £560
Now is agreed by i), ii) and iii) and with each other,
and, according to their respective interest in the premises, they direct iv) to following effect:
1. All general legacies to be paid out of personal estate. Surplus to be converted into money2. To produce the clear annual sum of £560 the sum required in consolidated Bank annuities is £18, 666 13s 4d. Present value of 3 equal 1/4th parts of which testator was entitled as one of 3 residuary legatees of Dr J H Arnold, on death of Georgiana Arnold, is £6934 10s.
3. Legacy duty at 1% on above sum to be paid. All surplus of legacy duty be placed in such consolidated Bank annuities
4.To above shall be added further consolidated bank annuities to make total £6934 10s5. Difference to be raised by the sale of the real estates6. Trustees to be given powers to carry out such sale7. Money raised to be invested in annuities to amount of £18,666 13s 4d. Remainder to be invested by iv) in Government stocks and held on trust to pay income to i) for life and then in trust for ii)8.iv) will, during lifetime of G Arnold raise yearly sum of £560, to be paid half yearly, the first payment on 12 August 1858 being postponed to admit of the sale of the real estate as provided in 3rd and 5th clauses. Dividends used to pay said yearly sum, deficiency to be made up by sale of part of the Consolidated Bank annuities
9. During lifetime of G Arnold, out of said £560 sums of £150, £120, £120 and £120 shall be applied for benefit of testator's children, Eliza Sarah, Laurent, Anna and Robert. Sarah Elizabeth Olivier to have application of the same during her widow hood. If child dies before 21, then amount reduced accordingly.10. During lifetime of G Arnold, £50 p.a. residue cont of said £560 shall be paid as follows: 1/3rd to Caroline Mary Olivier, 1/3rd to Ellen aand 1/3rd to Frances
11. On death of Georgiana Arnold, so much of the 3 x 1/4th parts not so far disposed of as residuary estate of Dr Arnold, shall be converted into Consolidated Bank Annuities, sufficient, with other Annuities to raise said £560 p.a. (or reduced sum if any child died under 21). Remainder to form part of testators residuary personal estate
12. iv) to have powers to give receipts etc signatures of all endorsed various witnesses 1 July 1858 also endorsed with:Deed of Release a) Sarah Elizabeth Olivierb) John Josias Conybeare Olivier
c) Caroline Mary Olivier, Ellen Olivier, Frances Olivier
d) said S E Olivier, Henry Stephen Olivier, John Charles Conybeare
Legacies (other than £560) and legacy duty has been paid
Remainder is represented by £4742 19s 9d Consolidated
Bank annuities in names of d)
Price of £3% Consolidated Bank Annuities on 28 March 1859, the day the excutors' accounts were made up, was 96% and at that price the sum of £7223 8s 9d Consolidated
Bank Annuities was equal in value to £6934 10s, being the agreed present value of the reversionary interest now forming part of estate of said testator (total - £11,966 8s 6d). On deduction whereof from said sum of £18,666 13s 4d there remains sum of £6,700 4s 10d
Real estate of testator has been sold, and proceeds invested. Out of dividends of the Consols purchased therewith, or out of personal estate, £560 (after deduction of income tax) has been paid, as first yearly payment as provided under the will. £6700 4s 10d
Consols have been added to £4742 19s 9d (total - £11,443
4s 7d like annuities).
a), b) and d) invested the produce of the sale of the real and personal estate in one fund of Consols in their joint names, but sum of £1575 1s 10d Consols remains standing in names of a), b and d) as originally invested.
Only part of personal estate of testator not specifically invested is sum of £200 being balance of Bond debt of Richard Shafto Chambers which a) and b) have requested d) not to call in until R S Chambers repays it when it
is to be invested in Consols and held on same trusts as above £1575 1s 10d. Until then interest to a).
d) at request of a) and b) have invested £280 (part of cont proceeds of real estate) in debenture stock of Great Northern Railway d) have paid to b), at request of a) £113 13s 6d, part of proceeds of said real estate
£1575 1s 10d Consolidated Bank Annuities so remaining uninvested has been appropriated to answer the trusts for benefit of a) for life and then for b), as in will and 7th clause of above deed of arrangement
Rents of real estate until completion of sale has been paid to a) a), b) and c) are satisfied of the truth of above and of the accounts and that d) have properly performed their duties
Now a), b) and c) release to d)
- all actions, claims, demands etc on account of all estate and effects not specifically bequeathed
Nothing herein contained shall act as release in respect of the various sums in Consols, or the Bond debt or the Railway stock upon trusts as in 8th schedule.
d) to pay said £560 in equal half yearly amounts on 12 February and 12 August each year. Deficiency to be raised by sale of Consols.
signatures of all witnesses, M H Olivier, 19, Circus, Bath
Frank Russell, clerk to Messrs Conquest and Co., solrs, 4, Bedford Row London
John Alexander Bailey, clerk, St Stephens, Tonbridge
Christopher, Hopson, ironmonger, Mill Street, Bideford. 10 August 1859Also endorsed with: Declaration of Trust
1)Sarah Elizabeth Olivier,
2) John Josias Conybeare Olivier3) Caroline Mary Olivier, Ellen Olivier, Frances Olivier
4)said S E Olivier, Henry Stephen Olivier, John Charles Conybeare
said £760 has been paid to present time. £430 12s 4d has been sold so £1112 12s 3d capital of the bank annuities remains
Georgiana Arnold died on 5 October 1860. Share to which testator was entitled on her death amounted to £1632 19s 10d Consolidated Bank Annuities, £10537 5s 8d, 3% reduced annuities, £1775 12s 6d new £3% annuities and £8494 5s 6d new £2 10s% annuities. Respective sums of stock were dealt with as follows: £43 16s 10d 3% reduced annuities
producing £40 5s 8d was sold in payment of expenses, £1632 19s 10d Consols and £1612 7s 9d £3 reduced annuities,total -£2979 13s., was used to answer bequest of testator of 1/4 of trust fund. Remaining £881 1s 1d £3% reduced annuities and said £1775 12s 6d New 3% annuities and £8494 5s 6d New £2 10s% annuities (total - 8938 8s 10d) were with consent of 2) set apart for 4) as in 11th clause above.
Dealings in stock forming such 1/3rd share of residuary estate are shown in tabular form in schedule
Amount needed to make up amount £18,666 13s 4d is £7654
1s 1d and by direction of 4) aforesaid £881 1s 1d £3%
reduced annuities and £8494 5s 65 New £2 10s% annuities
were sold and out of proceeds the sum of £7654 1s 1d consolidated Bank annuities were purchased in joint nmes of 4).
Balance invested in £180 17s New 3% annuities as part of residuary personal estate
Legacy duty of £63 14s 8d has been paid by sale of part
of £1956 9s 6d New 3% annuities
Costs of £54 18s 10d have also been raised by sale of part of annuities
Present value of 3 x 1/4th parts of residuary estate of
Dr Arnold amounted to £6,934 10s. Aforesaid sum of £1775 12s 6d New 3% annuities were by mistake omitted
Present value in March 1859 of 1/3rd part of said sum was £410, 3 x 1/4th parts thereof amount to £307 10s, which
sum has been raised by sale of part of £1946 9s 6d New 3%
annuities and invested in purchase of £334 4s 9d consolidated Bank annuities (in total, with other sums - £1909 6s 7d like annuities).
By means of the several sales said sums of £1956 9s 6d
New 3% annuities was reduced to £1475 17s 10d like annuities which now form part of the personal estate.
Now in confirmation and by way of supplement to above
Deed of Release, 1), 2) and 3) release 4) from all actions claims and demands on account of personal estate of Daniel Josias Olivier
With schedule of the 1/3rd share of Dr Arnold's estate signatures of all various witnesses