In re the Accounting & Settlement of the Accounts of McDowell
Appellate Division of the Supreme Court of the State of New York
Appeal by Boyd McDowell and others, as executors, from an order of the Surrogate’s Court of the county of Chemung, entered in the office of said Surrogate’s Court on the 22d day of April, 1916, directing that a supplemental citation issue and certain remaindermen be brought into the proceeding, also from a decree of said Surrogate’s Court, entered in the office thereof on the 17th day of November, 1916, settling the accounts herein, and also from a subsequent decree of said…
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Appeal by Boyd McDowell and others, as executors, from an order of the Surrogate’s Court of the county of Chemung, entered in the office of said Surrogate’s Court on the 22d day of April, 1916, directing that a supplemental citation issue and certain remaindermen be brought into the proceeding, also from a decree of said Surrogate’s Court, entered in the office thereof on the 17th day of November, 1916, settling the accounts herein, and also from a subsequent decree of said Surrogate’s Court entered in the office thereof on the 2d day of January, 1917, modifying the former decree.Appeal, by…
1Opinion of the Court
Kellogg, P. J.:
The decrees' appealed from, in effect, charge the executors with $56,500 on account of reinvestments made in bonds and securities, which have defaulted in paying the interest and with four and one-half per cent interest on such investments during the default. The surrogate has, in substance, determined that the will separated the office of executor and trustee and that the work of the executors must be finished before their duties as trustees began; that the executors remained such until they accounted, and as such had no right to sell securities and reinvest the proceeds; that…
2Cases cited4 opinions
- Blood v. . KaneNew York Court of Appeals · 1892
- Johnson v. . LawrenceNew York Court of Appeals · 1884
- In Re the Accounting of ZieglerNew York Court of Appeals · 1916
- In Re the Accounting of KelloggNew York Court of Appeals · 1915
3Cited by11 opinions
- Rogers v. CommissionerUnited States Tax Court · 1943
- In re the Accounting of McDowellNew York Surrogate's Court · 1918
- In re the Estate of GraceNew York Surrogate's Court · 1970
- In re the Estate of ClarkNew York Surrogate's Court · 1938
- In re the Estate of PoulsonNew York Surrogate's Court · 1935
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