Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1898-01-12

ventory and increase thereof is So, 1864 To
this should be added a reasonable allow
anCe tor commissions and per diem; and this
then constitutes the amount referreT to above
which IN my opinion should be paid out OF the
general estate of the deceased and to the pay
ment OF which the estates in remainder undis-
posed OF by the will Shou d be piled,
The testimony shows that from the time of
! their appointment the executors acting as
trustees have collected as gross income from
rents and Profits up to the ] 9Th day OF Decem
ber 1897, sum amounting to S1O,261.lS.
Out of this sum the said trustees are to pay the
items, other than taxes. above referred to as
not allowed against the "a, 600, trust fund and
amounting in the aggregate to the sum of
$3,447 70; out OF this gross income they are
also to pay such other expenses and repairs
which they may have incurred in the proper
execution of their trust.
Briefly summarized, | find
First; That the sum of 81 ,291 "a has been
properly used as expenses of sale and for in
vestnentS OF trust funds in the nature of per
lnanent improvements and that said trustees
are charge cable with balance of said funds in
their hands in the amount of So, 7O8 S.
Second: That the amount of the debts and
expenses OF administration over and above
the personal property chargeable with its pay
ment is 80, 1856. "a, with the executors percent
| age and per diem to be added.
| Third: That all other expenses incurred by
| the executors are properly Expenses of adj
| miniSterlng the trust and Chargeable against
| the income from the trust estate.
in accordance with the foregoing findings and
| the executors be ordered and directed to pro-
coed with the settlement of the estate by sell
| ing the property undisposed OF by the will and
paying the above named amount charged
against the estate and report their proceedings
| to the court for confirmation and assignment
| OF the residue to the persons entitled thereto;
and that said executors in their capacity as
| trustees should be required to render to the
| court true and correct itemiZed statement of
all their receipts and income from the trust
estate and of all their disbursements properly
Chargeable against the same, as above out
lined, and also full and complete statement
|
part of the trust estate, the purposes for
which it is used the income from each separ-
ate building, the amount of the insurance
upon the same, and such further informa-
ton as may be necessary to fully advise the
court of the condition of the trust estate;
that they should further be directed to keep all
moneys collected as the income from said trust
estate as separate fund and in their official
name as trustees. | this day enter judgment
accordingly.
l may perhaps be permitted to append few
remarks to all the parties interested in this
matter. | appreciate the earnest effort made
by the authorities of the city of WATERFOWL and
their Willingness to make even a sacrifice for
the sake of harmony and avoiding litigation.
The hig h standing and character of the parties
places their motive above suspicion They are
the chosen and trusted representatives of a
large munich pal corporation, and their personal
Standing IN the community should protect
them against the impugnment of improper
motives; and l regret that their effort at
compromise could not have been made to the
satisfaction of all. 1t was asserted upon the
argument on their behalf. as we'll as on behalf
of Eliza c. Cole and Oscar A. Cole, that those
clauses in the agreement which permit the use
of part of this trust fund for purposes other
than the payment of permanent improve
ments was copied from the original draft and
LETT therein by mistake, and that the intention
of all parties was to cover only permanent inn
prOvementS and such expenses were prop
erlv chargeable against the property. To that
extent the agreement would undoubtedly have
been valid, and to that extent the agreement
indirectly approved; reserving to the court the
right to determine from the evidence the
proper amount to be allowed. If the city in its
corporate capacity were the actual "cestui que
trust and the bequest was to the city for
the ending of all litigation by agreeing with
all the other interested parties, but it must
always be remembered that in this case the
citizens of WATERFOWL are the "CeStu que
trust and the city becomes trustee for the
purpose OF executing the trust as dlreC ed by
the will and is therefore in its corporate Capa-
city limited in its power of disposition of these
funds to the purposes of the trust. If therefore
at any time by inadvertence or mistake a dis
position is made, either with without the
spirit of the trust, individual citizens of Water
town can always intervene. 1t is therefore
impossible to end litigation wholly except by
following rgidly the course laid down by the
law. The courts, being entirely diSintereSted,
can be trusted to see to it that on the one hand
the trust estate shall be amply protected from
transportation misuse, while the
other hand they will neither permit the income
to be charged with expenses for which it is not
liable, nor permit it to escape the just burden
in the situation to be at all alarmed about even
If it should be deemed necessary at times to
have some of my conclusions reviewed by
another court. Such review need not neCeS-
Sarily be expensive, and is sometimes very
desirable to have.
GEORGE GRIMM County Judge.