Lord Russell of Killowen.-

The point for decision upon this appeal arises in the following circumstances. A testator made his will on 7th August 1913. It contained a disposition (hereinafter called the settled legacy) in the following words:

I give and bequeath to my said wife all the moneys now invested by me on mortgage bonds or promissory notes and all cash in deposit to my credit in my No. 2 account in the Mercantile Bank of India Limited Galle subject to the direction that she is to have the interest derived therefrom up to the time of her death or remarriage as aforesaid. Thereafter the same shall vest absolutely in my said three nieces."

He then made various bequests, including one which ran thus :

“(g) The rest and residue of my cash found In my possession at the time of my demise and also the money in deposit to my credit in my No. 1 account in the Mercantile Bank of India Limited Galle, in the Bank of Madras Colombo, in the Government Savings Bank and in the Post Office Savings Bank and the amount of my Policy of Insurance together with the profit thereof and all other moveable property absolutely to my said wife Margaret."

He made a codicil dated 9th August 1927, which he dec