Safe Deposit & Trust Co. v. Bowen

This Special Case stated (No. 131, October Term, 1946) is similar to case No. 130 (Lindau v. Community Fund, 188 Md. 474, 53 A. 2d 409), just previously decided, in that it has to do with the disposition as between income and corpus of securities received by a trustee. It differs from that case, however, in two important respects. There is nothing in the deed of trust specially applicable to the circumstances of the case, and the securities are not stock dividends but are new securities received on a reorganization of a corporation. The court below decreed that all of the securities should be…