In Re Trusts Created by Butler Under Written Indenture of Trust Dated June 18, 1920

Matson, Justice.

Appeal by Builders Trust Company from an order of the district court interpreting the language of certain trust indenture provisions and, in connection therewith, disallowing certain items of trust administration expense.

In 1920, appellant was incorporated by three brothers, John, Walter, and Emmett Butler, as a trust company under the Minnesota statutes thereto pertaining. Subsequently in the same year, John established seven, Emmett six, and Walter Butler six trusts for their respective families, and appellant was in each instance named and qualified as the trustee. In 1927,…