In re the Accounting of Guaranty Trust Co.

Frankenthaler, S.

In his will decedent appointed Guaranty Trust Company and his nephew, Sidney Hillman, executors and trustees. The will provided that the appointment of each “ is upon the express condition that none of them shall receive as compensation for services to be rendered as such, and they shall demand no more than one per cent. (1%) upon the gross value of my estate and one per cent. (1%) upon the gross income arising from the trusts herein created. The qualification of each of said executors and trustees shall be conclusive evidence of the acceptance of this condition.”

Sidney…