New York Life Insurance & Trust Co. v. Baker
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, The New York Life Insurance and Trust Company, as substituted trustee under the will of James Baker, deceased, from so much of a judgment of the Supreme Court in favor of the defendants, entered in the office of the clerk of the county of New York on the 24th day of March, 1898, upon the report of a referee, as adjudges that the plaintiff is chargeable with any amount whatever in addition to the securities and funds shown to be in its hands by its…
Read the full summary
Appeal by the plaintiff, The New York Life Insurance and Trust Company, as substituted trustee under the will of James Baker, deceased, from so much of a judgment of the Supreme Court in favor of the defendants, entered in the office of the clerk of the county of New York on the 24th day of March, 1898, upon the report of a referee, as adjudges that the plaintiff is chargeable with any amount whatever in addition to the securities and funds shown to be in its hands by its account as filed, and also from so much thereof as adjudges that the life tenant, William J. Baker, cannot be adjudged…
1Opinion of the Court
Cullen, J. :
This action is brought for a settlement of the accounts of the plaintiff as substituted trustee under the will of James Baker, deceased. The question involved in the case is as to the respective rights of life tenant and remaindermen in the interest coupons on government bonds, where the bonds are purchased at a premium. In 1881 and 1882 the plaintiff’s predecessor invested $91,525 of the principal of the estate in $50,000 par value of four per cent government bonds, $31,000 of government four and one-half per cent bonds, paying a premium of $6,250 on the four per cents and $4,275…
2Cases cited3 opinions
- New York Life Insurance & Trust Co. v. KaneAppellate Division of the Supreme Court of the State of New York · 1897
- In Re the Application for the Removal of HumfrevilleNew York Court of Appeals · 1897
- In re the Final Judicial Settlement of the Accounts of the New York Life Insurance & Trust Co.New York Surrogate's Court · 1898
3Cited by5 opinions
- Robertson v. . De BrulatourNew York Court of Appeals · 1907
- In re Allis's EstateWisconsin Supreme Court · 1904
- In re the Estate of HilliardNew York Surrogate's Court · 1937
- In re the Judicial Settlement of the Account of FanoniNew York Surrogate's Court · 1914
- Simon v. CommissionerUnited States Board of Tax Appeals · 1928