MATTER OF LAGE


14 Misc.2d 1043 (1958)

In the Matter of the Intermediate Accounting of City Bank Farmers Trust Company, as Trustee under the Will of Mercedes R. M. Lage, Deceased.

Surrogate's Court, Nassau County.

December 11, 1958.


Attorney(s) appearing for the Case

Coudert Bros. for trustee, petitioner.

Sidney Franklyn Looker for Laura M. Guiterman and others.


JOHN D. BENNETT, S.

In this intermediate accounting, the trustee seeks instructions as to the disposition of certain stock dividends.

Although the invasion of principal of the trust created under paragraph Eighth of the will to pay the accountants was unauthorized in years in which the stock dividends applicable to income were sufficient to satisfy such annuities, the proper course at present is the reimbursement of principal in the years where...

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