Casani's Estate

Stearne, J.,

This case comes before us on reargument, following our decision reported in 37 D. & C. 182. The basic inquiry is the determination of the time within which a trustee is required to convert “inherited” nonlegal securities.

The Supreme Court, in Seamans’ Estate, 333 Pa. 358, following comment (6) to section 230 of the A. L. I. Restatement of Trusts, and citing the English case of Hughes v. Empson, 22 Beav. 181, 52 Eng. Repr. 1077, decided that the trustee must sell promptly. Incorporating the text of the comment of the Restatement by way of a footnote, the undoubted effect of the…