Wild v. Newton

1. The right to subscribe for the new insurance stock belonged to Mrs. Newton. Appellants do not question the “well-nigh universal rule that the benefit of a right given by a corporation to its stockholders to subscribe at par, or other fixed amount less than the intrinsic value, for a new issue of stock, whether sold or exercised by taking new stock, is awarded to corpus and not to income, to the remainderman and not to the life tenant.” Estate of Merrill, 196 Wis. 351, 355, 220 N. W. 215.

But the appellants contend that this rule does not apply because, as they assert, the will expresses an…