In re the Estate of Jones

William J. Regan, S.

This is a proceeding for the judicial settlement of the accounts of the trustees under the will of Raymond T. Jones and for a construction of the will concerning the disposition of income and principal under the trust.

Raymond T. Jones died on May 25, 1939 leaving a will dated June 29, 1938. Article Sixth of the will placed the preferred stock of Ferland, Inc., in a trust, the pertinent provisions of which are as follows:

“ (b) To collect and receive all dividends and income from said preferred stock when and as declared and payable, and thereupon to divide and distribute…