Simpson v. Moore
New York Supreme Court
THE complaint in this action alleged that John Wilson, formerly of the city of Hew York, died on the 21st of December, 1837, leaving a will, which was afterwards admitted to prohate, and recorded in the office of the surrogate of Hew York.
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THE complaint in this action alleged that John Wilson, formerly of the city of Hew York, died on the 21st of December, 1837, leaving a will, which was afterwards admitted to prohate, and recorded in the office of the surrogate of Hew York. That by said will the testator bequeathed to the plaintiff Mary Ann Simpson, then his wife, the income during her life, of one sixth part of his estate, in these words: “ One sixth part of all my estate (including the proceeds of my real estate sold) I direct my executors to retain and invest, and keep invested from time to time upon real estate security…
1Opinion of the CourtIngraham, J.
In this case I am of the opinion that the testator intended all the income of the property which he or*641dered to be invested should be paid to the wife, but that the capital so invested should be preserved.
[New York Special Term, December 23, 1859.
Under the case of OlarJcson v. Clarkson, (18 Barb. 646,) the payments in question must be considered as dividends; but as they contained part of what was held as capital when the stock was purchased, so much thereof as was necessary to make up the original investment, over and above the par value of the stock taken by the trustee in exchange, should…
2Cases cited1 opinion
- Clarkson v. ClarksonNew York Supreme Court · 1855
3Cited by7 opinions
- Gibbons v. MahonSupreme Court of the United States · 1890
- In Re the Accounting of OsborneNew York Court of Appeals · 1913
- McLouth v. . HuntNew York Court of Appeals · 1897
- Thomas v. GreggCourt of Appeals of Maryland · 1894
- In re PollockNew York Surrogate's Court · 1877
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