In re the Judicial Settlement of the Intermediate Account of Proceedings of Myers

Proceeding instituted in the Surrogate’s Court of Kings county for the judicial settlement of the account of proceedings of the trustees of the several trusts under the last will and testament of the decedent. As an incident to such accounting, the surrogate construed the second clause of the will creating such several trusts to the effect that the life beneficiaries thereof were to receive all of the current income thereof without diminution for the purpose of establishing an amortization or sinking fund to maintain the principal of the trust, and that, therefore, the dividends received by…