Gray v. Hemenway

This is a bill brought by the trustees under the will of Augustus Hemenway, who died in 1876, for instructions as to the disposition of two distributions made to them on stock of the Delaware, Lackawanna and Western Railroad Company, a Pennsylvania corporation herein referred to as the Railroad Company, held by them as trustees. The case was reserved for the consideration of this court upon the bill and answers.

In his will Augustus Hemenway established a trust in the residue of his estate by the terms of which the trustees, after satisfying annuities, were to pay “all the remaining nett rents…