In re the Estate of Sielcken

Foley, S.

In this proceeding the widow of the decedent, who was the residuary legatee under his will, applies for a direction to pay over to her the income upon certain securities deposited in the Chase National Bank as collateral to secure the payment of two refunding bonds executed by her as a condition of receiving certain assets of the estate from the executor in her capacity as residuary legatee. The deposit was evidenced by an exchange of letters between the executor and the depository which provided for the payment to the legatee of income earned on the securities.

The application is…