Hemenway v. Hemenway

This is a bill for instructions by trustees under the will of Augustus Hemenway. The ease was reserved for the full court upon the pleadings and an agreed statement of facts, “ such decree to be entered as law and justice may require.” The question is whether a dividend declared by the directors of the Pennsylvania Coal Company shall be regarded in whole or in part as capital or income, and it arises under the seventh clause of the will which provides that the rest and residue of the property disposed of by the will shall be held in trust during the life or lives of the wife and children of…