[DOWNLOAD] "Mitchell v. Ottinger." by United States Court of Appeals for the Third Circuit # eBook PDF Kindle ePub Free
eBook details
- Title: Mitchell v. Ottinger.
- Author : United States Court of Appeals for the Third Circuit
- Release Date : January 29, 1939
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 56 KB
Description
James Cleary died November 9, 1922.He left a will, duly admitted to probate, by which he appointed his widow, Marcella Cleary and two of the appellants, Mitchell and Doyle, as his executors and as trustees. By his will Cleary created a trust of his residuary estate. The net income from the trust was to be paid to his widow, Marcella Cleary, during her lifetime, and upon her death the corpus of the trust was to be sold and the proceeds were to be distributed to certain named persons and charitable societies, one of these being St. Johns Orphan Asylum, of Philadelphia. The testator gave no power to the trustees to invest the funds of the estate in other than investments legal for trust funds under the laws of Pennsylvania. The will did provide expressly, however, that " * * * my stocks of the Southwestern National Bank of Philadelphia and of the Continental-Title and Trust Company shall not be sold." We are not concerned here with the last named bank or with its stock.
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