First Trust Co. v. Whitacre

Peterson, Justice.

John S. Whitacre died testate on December 18, 1927, leaving him surviving two sons, John C. Whitacre and Edmund R. *287Whitacre. By his will the testator created two trusts, the corpus of which consisted of shares of common stock of the St. Paul Fire & Marine Insurance Company.

The trusts were identical in their terms. One consisted of 147 shares, the income of which was payable to John C. Whitacre during his lifetime, with remainder of the corpus and accrued income over to his lawful issue then living per stirpes and not per capita. The other trust consisted of 103 shares, the…