Massey v. Guaranty Trust Co.

Ellis, District Judge.

This case is presented as a Case Stated under Rule 10-d of this court.

On February 4, 1920, Henry C. Bostwick, now deceased, created a voluntary trust of which the defendant Guaranty Trust Company of New York afterwards became a substituted trustee. After providing for payment of the income from the trust property during his lifetime to the settlor, who was designated in the trust indenture as the “party of the first part,” the indenture provided as follows: “After the death of the party of the first part, to pay to Martha Bostwick Massey during- her natural life, in…