In re the Accounting of Bank of New York & Fifth Avenue Bank

The petitioner, as accounting trustee, seeks an order judicially settling its account under the trust indenture and also seeks a construction of said instrument. The trust was created on March 16, 1918, in New York, and was executed here by the settlor and petitioner; the settlor at the time of the creation of the trust was domiciled here; the trust property, consisting entirely of personal property, was delivered to the petitioner in this State.

With regard to the dispositive provisions of the trust, the indenture provides for the payment of the income to the settlor during her life. Upon her…