Ballantine v. Young

Stevens, V. C.

This is a bill filed by trustees of the will of John Ballantine asking for directions.

The testator owned twenty-five shares of the Central Trust Company of the par value of $50 each. Its capital stock was $1,000,000. Its undivided surplus at the. time of testator’s death (April 27th, 1895), $5,776,113.70. It paid regular semiannual dividends at the annual rates of, first, fifty per cent., then sixty per cent., and then eighty per cent. On April 28th, 1909, the surplus had increased to $15,579,696.65. In June, 1909, its capital stock, by appropriate action on the part of the *72direc…