Atlantic Coast Line Dividend Cases

The single question presented on this appeal, is whether a 20 per cent stock dividend, declared by a resolution of the directors of the Atlantic Coast Line Railroad Company, a Virginia corporation, and payable in the coftimon capital stock of the company, on the 20th day of January, 1905, shall be treated as “income,” payable to the life tenants, or as principal, belonging to the appellant, as trustee under a deed from Moses H. Powder of Baltimore City, deceased.

The facts upon which the decision must rest are practically undisputed, and are set out in an agreed statement of facts contained in…