Citations
- 111 A.D. 773
Full opinion text
Williams, J. :
The decree should be affirmed, with costs to the trustees, the special guardian • and- Jessie Brooks Ty-ler, payable .out of the fund. - ' ' - .
The testatrix made the will October 5, 1896, and died November 5,1896. The will was admitted to probate November 16,1896, and Stevens and Solano qualified as executors and trustees thereunder and served as such. The former was a son-in-law and the latter a daughter of the testatrix. _By the will, articles 8, 9, 10, 11 and 12, five trusts were created, each of 247 shares of the stock of the Brooks Locomotive Works, for the benefit of five grandchildren. The language of the five articles was precisely the same except as to the name of the beneficiary. The stock was given to the executors in trust, to hold the same, collect the dividends, issues and profits thereof, and apply to the use of the beneficiary, in semiannual payments or as often as the same shall be declared, paid or realized, until the beneficiary arrived at the age of thirty years, and then the stock with any accumulations or earnings thereon to be transferred to the beneficiary absolutely. If the beneficiary died before he became thirty years old, leaving issue surviving, the same to go to such issue; if there were no such issue, the same to go to the then surviving children and grandchildren of testatrix, they taking per capita and not .per stiftpes.
These articles were subject to article 13 of the will, which provided that the executors should not be held liable for any depreciation in the value of the stock, and while the testatrix wished the stock 'to be held so long as it seemed t