Lowry v. . Farmers' Loan Trust Co.
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered March 8,1901, upon an order reversing a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term and directing judgment for the plaintiff.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered March 8,1901, upon an order reversing a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term and directing judgment for the plaintiff. The action involves the construction of the provisions of the will of John Lowry, who died in 1895. In the seventh clause, the will set apart one fourth of the residuary estate, to be held by the Farmers’ Loan and Trust Company, in trust to apply the rents, issues and profits thereof-to the…
1Opinion of the CourtGray, J.
The object of this action was to have it determined that, as between the plaintiff, the beneficiary of a trust created by the testator’s will, and those entitled in remainder to the trust fund, the shares of stock received by the trustee, in payment of a dividend of fifty per cent, which had been declared by the Pullman Palace Car Company upon its capital stock, were to be regarded, and treated, as income of the trust estate. The question whether. the life tenant of property, or the remainderman, should have the dividend, which a corporation has declared and has made payabjp in certificates…
2Cases cited4 opinions
- In Re the Final Accounting of KernochanNew York Court of Appeals · 1887
- Riggs v. . CraggNew York Court of Appeals · 1882
- Jermain v. Lake Shore & Michigan Southern Railway Co.New York Court of Appeals · 1883
- Davis v. . CornueNew York Court of Appeals · 1896
3Cited by31 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- In Re the Accounting of OsborneNew York Court of Appeals · 1913
- Tax Commissioner v. PutnamMassachusetts Supreme Judicial Court · 1917
- Robertson v. . De BrulatourNew York Court of Appeals · 1907
- Equitable Trust Co. v. PrenticeNew York Court of Appeals · 1928
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