In re the Judicial Settlement of the Accounts of Proctor
New York Supreme Court
Appeal by the contestants, Eliza E. Smith and Maud Smith, as executors in England of the last will and testament of Emma Biden, deceased, from so much of a decree of the Surrogate’s Court of the county of Monroe, entered in the office of the surrogate of Monroe county on the 11th day of July, 1894, as disallowed their claim to a surplus of $1,620, resulting from a sale of certain bonds by Emily C. Proctor, as administratrix of John Biden, deceased.
1Opinion of the Court
Bradley, J.:
By his will, John Biden, deceased, gave to Emma Biden during the period she should remain his widow “ the interest, income and *573profits of the sum of six thousand dollars, which interest or income shall be payable to her at the times the same accrues on the investment of said six thousand dollars.”
The executors of his will invested such sum of $6,000 in Rochester city water bonds, upon which the widow received the interest up to January 1, 1894, at the rate of seven per cent per annum. She died February 11, 1894. At that time the bonds were worth a premium of twenty-seven per cent,…
2Cases cited4 opinions
- Matter of Final Accounting of GerryNew York Court of Appeals · 1886
- In re Vedder's EstateNew York Supreme Court · 1891
- Cross v. Long Island Loan & Trust Co.New York Supreme Court · 1894
- Duclos v. . BennerNew York Court of Appeals · 1893