The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-12-15


the Subject of Inquiry Yesterday Fore
noon-Difference of Opinion in the War
rem Family as to the Trust.
The controversy over the Warren estate
was continued in the Probate court, be-
fore Judge Peabody yesterday. AS stated
in the PRESS yesterday portion of the
heirs are dissatisfied with the trustees in
whose hands is kept the $50, 900 left in
trust by the late George Warren for the
benefit of his six children and their de-
scendants. Only the income of the estate
is to be divided SO long as any one of the
children is alive. There are two opinions
i'll the family as to the management of
Messrs. Edward P. Oxnard and Calvin
M. Cram, the trustees. William Warren,
Wn p. Warren, Az Warren, John D.
Warren, Elizabeth W Warren, Louise
Warren Smith and Alfred D. Warren,
object to the trustees as set forth in the
petition published yesterday. The other
branches of the family in which are in
cluded Mary I. W. Cram, Amelia W. G.
Agry, Mary G. Moen, A. Rene Moen, &c.
Moen, Agnes C.M. Shaw, Ethel Cram,
Agnes Cram Thatcher, Fannie Warren
Cram, Susan /. Oxnard, Alice A. Ok
nard, Fannie W. Oxnard, Helen Oxnard
Fowler, Catherine B. Hall, Fred S. Hall,
Geo. Warren Hall, Annie G. Hall, Henry
E. Oxnard, Parmelia Warren Lyall,
Eward L.Warren, Charles Warren and
George Warren, sustain the trustees. Mr..
Oxnard, himself, is member of one of
these branches, having married Miss
Sarah Warren, and Mrs. Grants mother,
formerly Miss Mary I. Warren. is another
daughter of the testator.
Those heirs who sustain the trustees
have filed remonstrance in the course
of which they declare that the trustees
have been in a high degree careful, pru-
dent, successful and satisfactory" in the
interest of the whole estate" and deny
that any reasonable or legal grounds ex-
list for the removal of the trustees or for
demanding of either of them that they
give bonds contrary to the terms of the
will.
The answer of Messrs. Cram and OK
nard to the petition for their removal de-
clares that they were specially named in
the will and codicil as trustees; that the
will provided that they should not give
bonds, that the amount of the trust
estate when received by them was, &C.
cording to the inventory, SAT, 1904, and
has now increased to $4,000; that
during the eigh t years of the widows
life they paid her an annuity amounting
to S12, 600; that in the nineteen years of
the trust they have paid to the bene-
ficiaries under the will total sum of
$3.50, 300; that the have paid in taxes and
expenses $41, 917 and in commissions to
the trustees S12,4 making in all total
disbursement of S246,6 The trustees
further declare in their answer that
while Calvin M. Cram has for purposes of
business resided for several years in New
York, he is native of Maine and does
not regard his change of residence per-
manent; they declare that his financial
standing is as good or better than when
appointed trustee; they declare that
they have never refused to furnish the
petitioners with information as to the
condition of the estate; that they have
exercised their best care and diligence in
making investments; that until the
filing of the petition they had not been
advised of any complaint or dissatisfac-
ton on the part of the petitioners, and
refer to the results of their investments
as indicat ng their fidelity and good
judgment; and they conclude by declar-
ing that if the court shall find that in
any way they have erred, they stand
ready to make all proper corrections.
An important part of the proceedings
yesterday forenoon was devoted to an
examination of the investments made in
railroad securities by the trustees. Mr..
Oxnard was on the stand, and was ex-
amined at length by Mr.. Hanno W. Gage,
of the counsel for the petitioners. In the
petition the railroad investments of the
trust were especially attacked, and Mr..
Gage devoted considerable time yester-
day to an examination of these invest
nineteen years of the trust there had in
all been bought S275, 900 worth of rail
road stocks and bonds, and up to date
they have sold 1852, $50 of such securities
leaving S112,o on hand at the present
time In the buying and selling of these
securities, as Mr.. Oxnard testified, the
trustees had realized for the estate a
total profit of about SIS, 14O on certain
securities, such as Northern Pacific
bonds, Burlington and Cedar Rapids
bonds, Rutland railroad, etc. On other
securities like Atlantic and Pacific, on
which 1858 was lost, Union Pacific,
which shrunk $4,000, Missouri. Kansas
and Texas, which shrunk S3So4, Missouri
Pacific, which shrunk S6252, etc., the
trustees lost a total of SIS, 119.
Mr.. Gage then took up the presen t
value of the $112, O61 of railroad securities
which the trustees hold. Mr.. Oxnard
testified that the present market value
was in some cases less and in some more
than the prices paid. Tt might be that
at present in the condition OF depression