Wittmer's Estate

Opinion by

Mr. Justice Simpson,

■ By testator’s will lie directed that a large number of Ms shares of stock of the American Natural Gas Company, should be held in trust for a period of five years, the accruing income to be paid to certain distributees, among whom are the appellees in this case. At the date of his death, the company had a large surplus over and above the par value of its shares; subsequently, and prior to January 31, 1923, it was still further increased. On the last-named date, the company declared an extraordinary stock dividend of two hundred per cent, the payment of which…