King Estate

Opinion by

Mr. Justice Allen M. Stearns,

The question raised by these appeals relates to apportionment of corporate stock between life tenant and remaindermen. Its answer depends upon the effect of a corporate recapitalization and the merger by the corporation with two of its wholly owned corporate subsidiaries.

For the purpose of this opinion it will be unnecessary to recite the provisions of the testamentary trusts or the detailed facts and figures pertaining to the corporate recapitalization and merger. It is sufficient to state that one of the trusts is for the benefit of the widow of a…