In re the Accounting of United States Trust Co.

William T. Collins, S.

In this proceeding for the settlement of the account of the trustee the parties have stipulated the facts underlying the objections addressed by the special guardian to an investment in a participating interest in a mortgage. The premises covered by the mortgage in which the participation represented an interest were located at 604 Park Avenue in the city of New York. Originally the entire mortgage was assigned by the accounting corporate trustee from its own account to the building fund of the Cathedral of St. John the Divine. On November 14, 1927 the entire mortgage…