LEFEVER, J., June 11, 1965.
Where there is an express direction to treat all stock dividends as principal in a pre-1939 trust which is to run for a period proscribed by the 1853 statute against accumulations, do stock dividends of six percent or less, received by the trust from 1960 to 1963, constitute income or principal? This is the issue before the court.
Testator died on November 23, 1925. A trust was created by the residuary...
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