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TRUST OF MUNRO v. COM. NAT. BANK

373 Pa.Super. 448 (1988)

541 A.2d 756

In re TRUST OF Isabella W. MUNRO, Katharine S. Weibley, Executrix of the Estate of Richard W. Weibley, Deceased and William A. Cope, Objectants, v. COMMONWEALTH NATIONAL BANK, Trustee. Appeal of Katharine S. WEIBLEY Executrix of the Estate of Richard W. Weibley, Deceased.

Supreme Court of Pennsylvania.

Filed May 4, 1988.

Attorney(s) appearing for the Case

G. Thomas Miller, Harrisburg, for appellant.

Robert C. Spitzer, Harrisburg, for appellee.

Before CAVANAUGH, OLSZEWSKI and POPOVICH, JJ.

CAVANAUGH, Judge:

The issue before us in whether the court below properly refused to surcharge a corporate trustee for retaining its own stock as principal of the trust.

By Deed of Trust dated July 29, 1932, Joseph Munro and Isabella W. Munro, his sister, placed designated assets in trust, including shares of stock in Carlisle Deposit Bank and Trust Company which was named as sole Trustee. The trust agreement stated, inter alia that the Trustee was...

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