IN RE WALSH


32 N.J. Super. 528 (1954)

108 A.2d 652

IN THE MATTER OF THE ESTATE OF PHILIP C. WALSH, JR., DECEASED. FEDERAL TRUST COMPANY, A CORPORATION OF NEW JERSEY, AS SURVIVING TRUSTEE, ETC., ACCOUNTANT-RESPONDENT, v. MARY E. WALSH, ET AL., EXCEPTANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided October 28, 1954.


Attorney(s) appearing for the Case

Mr. William Rowe argued the cause for accountant-respondent (Messrs. Steelman, Lafferty & Rowe, attorneys).

Mr. Joseph F. Walsh argued the cause for exceptants-appellants (Messrs. Bracken & Walsh, attorneys).

Before Judges CLAPP, JAYNE and FRANCIS.


The opinion of the court was delivered by CLAPP, S.J.A.D.

Exceptants appeal from a judgment allowing the ninth intermediate account as to the trust under the will of Philip C. Walsh. There are three principal questions in the case:

1. Whether the Federal Trust Company, the surviving trustee, is chargeable for interest, which it paid to itself out of the trust income, on a bond and mortgage acquired by its banking department;

2. Whether the Trust Company...

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