In re the Estate of Baxter

Delehanty, S.

In this accounting proceeding the special guardian objects to a claim by the trustee for credit for a loss of capital. The item in question is a $16,000 mortgage which is now listed as of no value. The proof shows that the property covered by the mortgage was originally a multi-family house of a poorer tenement type located in the upper east side district of Manhattan. The building has been demolished pursuant to official order therefor because it became unsafe due to vandalism. The land apparently has a value now of about the total of accumulated and unpaid land taxes. The…