Jones Estate

Opinion by

Mr. Justice Bell,

Testator at the time of his death on January 1, 1928, was the owner of 22 shares of the common stock of the Union Trust Company. Subsequently, each share of common stock of the Union Trust Company was exchanged on a five for one basis (the par value being reduced from f 100. per share to $20. per share), and the trustees of the Jones Estate thereafter held 110 shares of the common stock of Union Trust Company. The parties agreed that this transaction did not *475require any apportionment between life tenant and remainderman.

Tlie Union Trust Company and the Mellon…