In re the Estate of Zabriskie

Wingate, S.

In January, 1927, decedent borrowed from the National City Bank the sum of $10,000, depositing certain shares of stock with the bank as collateral security. On October 23, 1929, decedent entered into an agreement with City Bank Farmers Trust Company whereby the latter agreed in consideration of the assignment to it by decedent of sixty-seven shares of the capital stock of the American Telephone and Telegraph Company and other expressed consideration, to hold such stock in trust to pay the net income therefrom to decedent during his life, and upon his death to pay over the principal…