In re the Judicial Settlement of the Accounts of Proceedings of Postley

This is a proceeding for the judicial settlement of the accounts of Jeanne G. Postley and Chemical Bank & Trust Company as trustees under the will of Sterling Postley, deceased. The sole question involved concerns the allocation of certain cash dividends received by the trustees upon stock of the Singer Manufacturing Company, held by them as part of the principal of two of the three trusts set up by the deceased. Jeanne G. Postley, testator’s widow and the beneficiary named in the trusts, contends the dividends should be treated as income and paid to her. The remaindermen, whose wives have a…