Harris Trust & Savings Bank v. Morse

In March, 1921, complainant and Charles Hosmer Morse entered into a written agreement, dated June 19, 1920, by which Morse assigned to the complainant, as trustee, 10,000 shares of the common stock, without par value, of Fairbanks, Morse & Co., an Hlinois corporation, and complainant agreed to hold the same and collect the income therefrom for ten years, “or until such time as this trust shall be terminated” as therein provided, and to pay the entire net income from time to time, less its reasonable charges, to the First Trust & Savings Bank, of Chicago, “as Trustee, under an agreement with…