Austin's Estate

Matthews, P. J.,

2. Carter Ice Cream Company Mortgage

The unpaid principal of this mortgage was $45,000 at the time it was acquired by the trust department. No instalment was overdue at that time. Funds of this trust amounting to $25,000, of the Elizabeth A. Shaw trust amounting to $10,000, and of the St. Peter’s Episcopal Church Trust amounting to $10,000, all created under testator’s will, were invested in this mortgage. Thereafter, during 1928, 1929, and 1930 the sum of $13,000 was paid on account of principal, all of which payments were applied in reduction of the participation of this…