Smith Trust

Opinion by

Mr. Justice Chidsey,

The basic question presented by this appeal is whether an annual gift to his widow by the settlor in a trust instrument was cumulative.

The important facts are not in dispute and ma.y be summarized from the opinion of the court below as follows: The settlor, Parker M. Smith, by an inter vivos revocable deed of trust, transferred to his trustees, preferred and common stock of Smith, Drum & Co., a Pennsylvania corporation engaged in the business of manufacturing textile dyeing and finishing machinery, in its final form this trust provided that the income should be…