First Wyoming Bank, N.A. v. First National Bank & Trust Co.

I agree that the “open-mine” principle should be applied if the mineral rights were producing royalties at the time the trust was created. I also agree that the “Massachusetts rule,” espoused by this court in Allith-Prouty Co. v. Wallace, 32 Wyo. 392, 233 P. 144, 39 A.L.R. 513 (1925), reh. denied 234 P. 504, and essentially stated in Restatement of Trusts, Second, § 236, that dividends “in property other than in shares of the holding corporation,” should govern the treatment to be given the distribution of shares in New Jersey Standard by Indiana Standard.

*1367However, the probate judge’s ruling…