New York Life Insurance & Trust Co. v. Baker
Appellate Division of the Supreme Court of the State of New York
Appeal from judgment on report of referee. Action by the New York Life Insurance & Trust Company, as substituted trustee under the will of James Baker, deceased, against William J. Baker and others. From an adverse judgment, plaintiff ■appeals.
1Opinion of the CourtCullen, J.
This action is brought for a settlement of the accounts of the plaintiff as substituted trustee under the will of James Baker, deceased. The question involved in the case is as to the respective rights of life tenant and remainder-men in the interest coupons on government bonds, where the bonds are purchased at a premium. In 1881 and 1882 the plaintiff’s predecessor invested $91,-525 of the principal of the estate in $50,000 par value of 4 per cent, government bonds, and $31,000 of government 4-£ per cent.. bonds, paying a premium of $6,250 on the 4 per cents., and $4,275 on the 4-¡- per…
2Cases cited7 opinions
- McLouth v. . HuntNew York Court of Appeals · 1897
- New York Life Insurance & Trust Co. v. KaneAppellate Division of the Supreme Court of the State of New York · 1897
- Bergen v. ValentineNew York Supreme Court · 1882
- In re the Final Judicial Settlement of the Accounts of the New York Life Insurance & Trust Co.New York Surrogate's Court · 1898
- In re Final Judicial Settlement of the Annual Accounts of HoytAppellate Division of the Supreme Court of the State of New York · 1898
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3Cited by2 opinions
- In re Allis's EstateWisconsin Supreme Court · 1904
- Simon v. CommissionerUnited States Board of Tax Appeals · 1928