In re the Estate of Oberg

Feely, S.

Testator was indebted on promissory notes in the sum of $176,900. The payee was a banking corporation that was also empowered to act as a trust company. As collateral to these notes, testator delivered to the payee certain securities of the value of $372,616. These did not comprise his entire estate. Shortly after his death, the payee corporation, under its trust powers, qualified as the nominated executor and trustee of the pledgor’s estate, early in September, 1931, and as such executor took into its trust department all of the testator’s estate and its securities, both pledged and…