Downes v. Safe Deposit & Trust Co.

William F. Southcomb of Baltimore City, died November 2nd, 1931, testate, leaving practically his entire estate to collaterals.

Upon the issuance of letters testamentary upon his estate, an inventory was returned on December 15th, 1931. His estate consisted largely of stocks and bonds. These were valued as of the date of the testator’s death. On July 15th, 1932, the orphans’ court passed its order, authorizing a reappraisal of the securities as of that date. This was done because of the great shrinkage in the value of the securities since their appraisal in December, 1931, and, as stated by…