In re the Estate of Kelchner

Otto C. Jaeger, S.

In this trustees’ accounting proceeding the income beneficiary has filed objections to the allocation of certain stock distributions to principal.

In paragraph “ eighth ” of her will testatrix created a trust with income payable to her daughter for life. The remainder was bequeathed to testatrix’ oousin, or if she should predecease the life beneficiary, to the cousin’s issue.

Paragraph “ ninth ”, insofar as pertinent provides: “In every case of an extraordinary cash or stock dividend, any such dividend is to be distributable wholly as income, regardless of the fact that the so…