State Bank of Chicago v. Gross

By the sixth section of the will of Minnie Schmidt the testatrix created a $25,000 trust for her grand-daughter, Wilhelmina Gross, defendant in error. The testatrix there directed her executor, the State Bank of Chicago, plaintiff in error, to pay this sum of money to the State Bank of Chicago as trustee, “to have and to hold the same upon the trust and for the uses and purposes hereinabove expressed.” After authorizing the trustee to invest and reinvest the trust funds, the paragraph in question provides: “After paying all necessary and proper expenses incurred by said trustee in the care…