The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-12-14
A LARGE FORTUNE.
The Warren Heirs Insist that There Shall
be Change in the Trusteeship of their
Probate Court.

Probate Court.
An important hearing was begun III
yesterday. The cause involved is the
trusteeship of the estaEs of the late George
Warren, an estate valued at about two
hundred thousand dollars. Mr.. George
Warren was years ago one of the most
prominent and wealthy merchants of
ago, leaving MS property to be disposed
of by will. This will, which was pro-
bated i'll the summer of 1874, gave to his
VIE, Mrs. Parmeia Cram Warren his
mansion house OH State street with all
the plate, furniture and pictures, his
pew on the tower floor of State street
church, and a life annuity of fifteen
hundred dollars Il year, payable in
qual terly installments After some.minor
requests the remainder of the property
was put into the hands of Mrs. Warren,
and Fdr. Edward P. Oxnard, as trustees,
Mr.. 0xnard being a son-in-law. Mr..
Calvin NJ. Cram, formerly of this city,
but now of New York, became trustee in
place of Mrs. Warren some years ago. The
trustees were to hold the property for the
benefit OF all the six children. On the
death of the children she whole trust
fund is to be divided and paid TO their
descendants in equal shares.
The proceedings in the Probate court
yesterday were begun at the instance of
William Warren, Wm.P Warren, A. W..
Warren, John D. Warren. Eliza beth W.
Warren, Louise Warren Smith and Alfred
in Portland and the remainder in Worces-
ter. Mass.
These heirs some time ago sent a
petition to the Probate court, setting
forth as follows:
The undersigned respectfully represent
that they are interested as legatees and
remainder men and as parties deriving
income under the will of George Warren,
late of Portland, in said county of Cum
berland, deceased, which will was duly
proved and probated in said court on the
third Tuesday of July, 1874; that by the
terms of said will the property in which
they are interested is held in trust by
Edward E. Oxnard of said Portland, and
Calvin M. Cram of New York city, State
of New York, who have been duly APP
pointed by said court, trustees for that
purpose under the will of said George
Warren, deceased, and that under said
will said trustees were exempt from
giving a surety or sureties on their
official bond as such trustees; that the
amount of such trust estate is about
S1S0,0OO, all or nearly all in personal
property and securities; that at the tim e
OF the appointment of said trustees and
for several years thereafter, both Of said
trustees were citizens and residents of
the State of Maine, but Nthat now said
Calvin M. Cram is permanent resident
of the State of New York, and is not
personally, and has no property, within
the jurisdiction of the courts of Maine;
that neither of said trustees are possessed
of any considerable amount of property
and in case of any liability for improper
investments or otherwise, the remedy of
the benefciaries in said trust estate
would be practically fruitless; that since
their appointment the financial standing
of Calvin M. Cram, one of said trustees,
has changed, and is now such that your
petitioners believe it is not safe that the
funds of said trust estate should remain
in the hands and under the control of
said trustees, without bond with
sufficient sureties for the faithful per-
Torrance of said trust; that said trustees
have repeatedly refused to furnish to
your petitioners information of the con-
dition of said trust estate, or any state
ment of the securities and property in
which said trust estate is inve sted; that
on the 23d day of May, 1858, another for
NAL written demand was made on said
trustees for such statement in response
to which said Oxnard did furnish a state
ment of such securities from which it
!, a4 lpro "a Il
estate is invested in railroad stocks, in
which trustees are not allowed by law to
invest trust funds, the same being con-
tingent, fuctuating and of uncertain
and largely speculative value. And your
petitioners say that the said trustees
have wilfully aud negligently failed to
make true account to the Probate court
Of the correct standing of said estate and
thai your petitioners have evidence of
this by an Acknowledgement made by
said trustees to them, in writing, which
writing is now in the possession of your
petitioners and which writing states
that the trustees have not made a faith
full accounting to the Probate court on
the ground, as they state, that if the
| same was done it would mean an in
creased taxation on the estate, thereby
interested parties. Your petitioners say
| that the accounts of said trustees
| rendered to the Probate court in Cum
berland county do not contain any state
| ment of the investments of the trust
estate made by said trustees, nor a cor
rect statement of said estate and the do
ings of said trustees thereon.
The hearing began yesterday, Strout,
Gage and Strout appearing for the
petitioners and Messrs. Symonds, Snow
| and Cook for the trustees; and was
| largely devoted to an examination of the
books of the trustees and the nature of
| the securities.
Nothing of general interest was brought
| out. The hearing will probably contine
several days.
Struck l11, a Tam