134 THE FREEDMEN’S SAVINGS BANK 
under a last will and testament, competent to act as exec- 
utor, the corporation shall be entitled, in respect to the 
funds so remaining on deposit to the credit of any such 
depositor, to administration thereon in preference to all 
other persons, and letters of administration shall be 
granted to the corporation accordingly in the manner 
prescribed by law in respect to granting of letters of 
administration, with the will annexed, and in cases of 
intestacy. 
Sec. 11 . . . in the case of the death of any depositor, 
whose deposit shall not be held upon any trust created 
pursuant to the provisions herein before contained, or 
where it may prove impossible to execute such trust, it 
shall be the duty of the corporation to make diligent 
efforts to ascertain and discover whether such deceased 
depositor has left a husband, wife, or children surviving, 
and the corporation shall keep a record of the efforts so 
made, and of the results thereof; and in case no person 
lawfully entitled thereto shall be discovered, or shall ap- 
pear, or claim the funds remaining to the credit of such 
depositor before the expiration of two years from the 
death of such depositor, it shall be lawful for the corpora- 
tion to hold and invest such funds as a separate trust fund, 
to be applied, with the accumulations thereof, to the edu- 
cation and improvement of persons heretofore held in 
slavery, or their descendants, being inhabitants of the 
United States, in such manner and through such agencies 
as the board of trustees shall deem best calculated to 
effect that object; Provided, That if any depositor be not 
heard from within five years from the date of his last 
deposit, the trustees shall advertise the same in some 
paper of general circulation in the State where the prin- 
cipal office of the company is established, and also in the 
State where the depositor was last heard from; and if, 
within two years thereafter, such depositor shall not ap- 
pear, nor a husband, wife, or child of such depositor, to 
claim his deposits, they shall be used by the board of 
trustees as hereinbefore provided for in this section. 
Sec. 12 . . . no president, vice-president, trustee, offi- 
cer, or servant of the corporation shall, directly or in-