Mitchell's Estate

Stearne, J.,

The exceptions relate to the refusal of the auditing judge to surcharge executors because of the alleged unjustified retention of securities “inherited” from the testator and to the amount allowed by him for counsel fees and commissions.

Taylor’s Estate, 277 Pa. 518, was the first case in Pennsylvania to define the liability of a fiduciary for retaining a nonlegal security owned by a testator. That case rules that, in the absence of specially conferred authority under the will, such a fiduciary has no right so to retain. However, when in fact the fiduciary does so retain, and a…