In re the Final Accounting of Bank of New York

Feanoís X. Conlon, J.

The general guardians of the infant remainderman are also executors of the estate of the deceased life tenant. They, therefore, represent interests which are, presumptively, at least, conflicting. Stock issued as the result of a stock “ split” (without any addition to the capital account from capital surplus or earned surplus — see Matter of Lissberger, 188 Misc. 811, 189 Misc. 277, affd. 273 App. Div. 881; Matter of Strong, 198 Misc. 7, affd. 277 App. Div. 1157) and stock dividends, properly allocable to principal, may have been paid as income to the life tenant. The…