Jones v. Integrity Trust Co.

Opinion by

Mr. Justice Simpson,

The question involved in this case is: How shall certain stock, received by the defendant trust estate as the result of an extraordinary stock dividend of twenty-five per cent, be divided between the corpus of the trust and the life tenant who is entitled to the income thereof? To this, the court below, appellant and appellee have each given a different answer. It is certain, therefore, that two of them must be wrong; in reality all three are.

Prior to the end of 1925, the trustees had made three separate purchases of the stock of the United Gas Improvement…