In re the Accounting of Fitch

The testator, Charles C. Fitch, drafted a will in his own handwriting and executed it August 26, 1930. He then owned 115 shares of the common stock and 160 shares of the preferred stock of United States Steel Corporation. He died October 6,1949.

Before he died he had disposed of all these shares of stock. Also before he died, and after the disposition of testator’s shares, the United States Steel Corporation had increased the number of shares of common stock and had issued to common stockholders three shares of new common stock in exchange for each share of old common stock held.

The will gave…