Keasbey's Trust Estate

Opinion by

Mr. Justice Stern,

Henry G. Keasbey and Richard V. Mattison owned all the stock of Keasbey and Mattison Company. Certain litigation between them was compromised by Mattison purchasing Keasbey’s shares for $3,900,000, of which $750,000 was paid in cash and $3,150,000 by the delivery to Keasbey of Mattison’s bond for that amount secured by the deposit with Eidelity-Philadelphia Trust Company of all the shares of the company’s stock. The bond, which was dated January 11, 1929, provided for the payment of the principal in seven annual instalments on January 25th of each year thereafter,…