Hartford-Connecticut Trust Co. v. United States

HINCKS, District Judge.

Finding of Facts.

Plaintiff at all times material to the issues was a Connecticut corporation engaging, amongst other activities, in the trust business, and was the duly qualified and acting trustee under the will of one James Terry, deceased. Under said will the plaintiff held a substantial estate in trust to invest and reinvest the same and to pay the net income to the testator’s mother, Louise, during her life, with remainder, in fee, to his daughter, Leontine Terry.

On December 4, 1930, the plaintiff, as such trustee, sold to a broker 20 shares of Bank of New York &…