In re the Accounting of Hanover Bank

Frankenthaler, S.

The surviving cotrustee and the executors of the deceased cotrustee upon this application for the settlement of their intermediate account have asked for a determination of the scope of authority of the trustee.

Initially the trustees held all 1,000 shares of the capital stock of a real estate holding company which had been owned by the decedent. Subsequent devolution of 200 shares of the stock to each of two remaindermen, in accordance with the provisions of the will, has left 600 shares of stock in the corporation in the hands of the surviving trustee. One of the parcels of…