United States Trust Co. v. Heye
Appellate Division of the Supreme Court of the State of New York
Cross-appeals from a judgment of the Supreme Court, entered in the office of the clerk of the county of New York upon the report of a referee, judicially settling the accounts of the plaintiff trustee and instructing it as to the disposition to be made of certain securities, extraordinary dividends and stock subscription rights.
1Opinion of the Court
Shearn, J.:
This case involves the application of the rules of apportionment of trust property between life beneficiaries and remaindermen, growing out of a distribution of the bulk of the assets of the Standard Oil Company of New Jersey on December 1, 1911, in pursuance of a decree of the United States Circuit Court, adjudging that company and its constituent companies to be an unlawful combination or conspiracy in restraint of trade and enjoining the continuance of the combination. Numerous questions have arisen out of the complexity of the corporate transactions, but one basic principle…
2Cases cited17 opinions
- In Re the Accounting of OsborneNew York Court of Appeals · 1913
- The Pipe Line CasesSupreme Court of the United States · 1914
- Williams v. . Western Union Telegraph Co.New York Court of Appeals · 1883
- In Re the Accounting of BrannNew York Court of Appeals · 1916
- McLouth v. . HuntNew York Court of Appeals · 1897
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3Cited by5 opinions
- MacY v. . LaddNew York Court of Appeals · 1920
- Macy v. LaddAppellate Division of the Supreme Court of the State of New York · 1918
- Macy v. LaddNew York Supreme Court · 1926
- In re the Judicial Settlement of the Account of MegrueAppellate Division of the Supreme Court of the State of New York · 1918
- In re the Judicial Settlement of the Account of Proceedings of the United States Trust Co.Appellate Division of the Supreme Court of the State of New York · 1925