In re the Accounting of Bourne

On May 1, 1914, Frederick G-. Bourne, now deceased, executed a deed of trust. The trustees now seek settlement of their intermediate account. No issue in respect to the accounting has been raised but the trustees ask for instructions and there is diversity of views among the various interested persons as to what instructions are appropriate.

The corpus of the trust consists of shares of stock in the Singer Manufacturing Co., Ltd., a British corporation. The deed of trust provides that the income shall be paid to the settlor during his lifetime and after his death to be divided equally among…