Trusts — Construction — Gift to hospital association and institutes — Condition of separate corporate existence — Consolidation of hospital association and others.
Where the settlor provided that the income of a trust should be paid in three equal shares to the Jewish Hospital Association of Philadelphia and two other charities, and further provided that should either of the charities "not have a separate corporate existence" at the time of the death of the survivor of himself and his wife "or if their corporate existence should cease thereafter", the share or shares of income of such charity should be paid to and divided equally "between such of them as have or continue to have a separate corporate existence"; and it appeared that the Jewish Hospital Association and two other hospitals were consolidated and became a new corporation, the Albert Einstein Medical Center; it was Held that the Jewish Hospital Association of Philadelphia had no corporate existence after the consolidation and the income should be divided equally between the two other charities named by settlor.
OPINION PER CURIAM, May 24, 1954:
The order of the court below is affirmed on the opinion of President Judge FRANK SMITH.