Grace v. Corn Exchange Bank Trust Co.

Lehman, Ch. J.

In June, 1930, Chessman Kittredge was appointed as “ successor trustee ” under the will of David Fox in place of George L. Fox, the trustee originally named in the will, who had been declared incompetent. Kittredge as trustee received assets of the estate valued at almost $450,000. From time to time he sold most of these assets and usually the proceeds were deposited in an account which he opened, as trustee, in the Eighty-sixth Street branch of the defendant bank. We shall hereafter, in this opinion, refer to that account as the “ trust account.” Kittredge died in May, 1936, a…