Borie Estate

SHOYER, J.,

M. Clementine Borie died on August 7, 1922, leaving a will and first codicil, both dated June 13, 1922.

By the terms of her will, the principal sum of $500,000, plus the residue of the estate after provision for other specific bequests and payment of decedent’s debts, funeral expenses and Federal and State inheritance, transfer and estate taxes, was bequeathed to the Philadelphia Trust Company in trust. Philadelphia Trust Company, by merger, was succeeded by Fidelity-Philadelphia Trust Company, now The Fidelity Bank.

Both the specific bequest to the trustee (under clause fifth), and…