In re the Estate of Martin

O’Brien, S.

This is an accounting by the trustees of the estate. A question has arisen between them and the life beneficiary as to the proper allocation of certain proceeds of the sale of subscription rights to which the trustees became entitled by reason of their holding in the trust fund 190 shares of stock of the Home Insurance Company of New York.

In 1928 the Home Insurance Company purchased the stock of the Halifax Fire Insurance Company of. Halifax, a Canadian corporation, and offered to its own shareholders the privilege of purchasing such shares at twenty-one dollars a share. While the…