Bridgeport-City Trust Co. v. First National Bank & Trust Co.

The question as to which advice is sought by this action is whether the plaintiff, a corporate trustee acting under the circumstances alleged in the substituted complaint and admitted by all the defendants, may charge against the corpus of the trust a portion of its annual fee for services. The trust here involved was created by a deed of trust dated December 13th, 1914, by Julia E. Stoddard, now deceased, conveying certain securities in trust to the Bridgeport Trust Company of which the plaintiff is the successor trustee. The deed provides that the trustee is to “hold, invest and reinvest”…