Hostetter's Trust

Opinion by

Mr. Justice Kephart,

Under four separate deeds of trust for different beneficiaries executed in 1920 by D. Herbert Hostetter to the Fidelity Trust Company as trustee, 1,300 shares of the common stock of the Pennsylvania Railroad Company were assigned to the trustee in each of them. Since all four of these deeds raise the same problem, we will confine our discussion to the deed naming Frederick G. Hostetter as life beneficiary, and treat its solution as applying to all. At about that time the book value of each share was $78.60. On March 28, 1928, the Pennsylvania Railroad Company…