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MATTER OF UNITED STATES TRUST CO. OF NEW YORK

4 A.D.2d 937 (1957)

In the Matter of the Accounting of United States Trust Company of New York, as Trustee under Indenture of Oliver H. Payne, Respondent. Sidney W. Davidson et al., as Executors and Trustees under The Will of William Bingham, 2d, Deceased, et al., Appellants; Harry P. Bingham, Jr. et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

November 6, 1957

Sufficient data having been presented to the court in the stipulation of counsel and the annexed exhibits, the court could have disposed of the entire case without a reference. We believe that the shares with respect to which the court has ordered a reference should be allocated in accordance with the formula of the trustee (or should be allocated to principal). Accordingly, the order is modified by eliminating the reference and remitting to Special Term to allocate the shares...

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