In Re the Trust Estate of Wharton

OPINION OP THE COURT BY

LINDSAY, J. (Peters, C. J., dissenting.)

Henry Wharton, during his lifetime, leased certain lands to Waialua Agricultural Company, Limited, for a term of twenty-five years from September 1, 1909, the lessee covenanting, among other things, to pay an annual rental of $125, and also all taxes, assessments and other charges lawfully assessed against the demised premises. By the will of said Wharton, the land demised, as well as other property, was devised to Henry Waterhouse Trust Company, Limited, upon certain trusts set forth in the will.

On May 23, 1924, the trustee filed…