The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-02-28
IN THE COURTS
important Decision Re
Carter Will.
The Last Testament of David Howard
Hitchcock and Other Ju-
dietary Matters.

The Supreme Court has rendered an
important decision affecting rights of
heirs to income from corporation stock
in the case of ]. o. Carter and G. R.
Carter, trustees under the will of H. A.
P. Carter, deceased, VS.. Frances Gre
hore, Agnes c. Calf, Cordelia J. Carter
and Sibyl A. Carter. The testator be-
queathed, as part of the residue of his
estate, 875 shares of stock in G. Brewer
& Co., Ltd, to trustees to pay the in
come thereof to certain persons for life
with remainder over. Afterwards a
STOCK DIVIDEND OF Two shares or new
STOCK Tor every three shares or old STOCK
was ISSUED by the corporation wnicn
appropriated as payment Inei eIor at
par an equal amount or its net earn
IngS all o. which had accum dlatcd since
the death OF the LeSIdtor. BEFORE the Is
sue or the new STOCK, the old STOCK was
at premium OF over $4UU snare ana
after the new issue the stock was at
a premium of over $500 share.
Inc Circuit Judge held that all the
new stock should 80 to the lie tenants.
The Supreme Court reverseS the decree
of the circuit Judge, hoidlng:. That
so much of the new stock held by the
trustees as represented earnings, that
is, up to the par value of the new stock,
should go to the life tenants, and that
the balance representing the right to
take the new STOCK at par, or the de-
probation in the value of the old stock,
should be held as part of the corpus of
the trust" The reasoning concludes:
eff distribution of earnings is made
in tue form of new stock and the stock
is above par, it necessarily follows that
the life tenant is entitled only to so
much of the stock as equals in value
the earnings appropriated, and that the
rest of it must be held by the trustee
as part of the corpus of the trust"
The will of the late David Howard
Hitchcock has been admitted to probate
by Judge Gardner X. Wilder of the
Fourth Circuit. Executors appointed
without bonds are David Howard
Hitchcock, Chas. H. w. Hitchcock and
Cora e. Townsend, his sons and
daughter. To these the old Hilo home
stead is bequeathed Mrs. Loebenstein
is left a lot on School street and Mrs.
Townsend an adjoining one running
135 feet on Waianuenue street Each
of the testator's sons receives lot and
| half of a beach lot is left to Mrs. Loe-
| bernstein. The Kukuau second land is
given to the three executors by name
| jointly. Mrs. Townsend receives the
| Pohakuloa ranch and lot back of DR.
! Moore's two lots. The dairy is be-
/ queathed to Charles, except Charles
and Howard go into partnership. Har-
| riet ]. Hitchcock is given the testatol
title in the Puma land purchased by hel
father, r. G. Hitchcock, and the deceas
ed Jointly. The Hilo public library II
left all of the testator's stock in the
Hawaii Herald Co., and Carl S. Smith
his law partner is given all his Law
books and office furniture.
Pleas to several indictme. rs were al
lowed to be reserved until turday
before Judge Perry at the Eee1uar.
term of the Circuit Court.
J. G. Cohen by his attorney. w.
Edings, has answered the complaint o
Geo. Gottinger with a general denial
Bishop & Co. and the Orpheum Co. ar
garnishees in the case The after cor
poration answers with a denial that
has any property of the defendant in it
possession.
In the case of Yam Yai and fou
others. for riot at Waiauae, a noll
prosequi was granted. Robertson 70
defendants.
Lokalia and j. Daimana, her hue
| band by their attorney. w s. Eding
have filed claim for s249.5O agains
the Republic of Hawaii for articles de:
troyed in the fire of January 20.
Judge Perry at chambers approve
the accounts and ordered the dischare
of George j. Campbell, receiver, upo
his payment to j. NJ. Dowsett, admin,
traitor of the J. l. Dowsett Estate. tn
balance remaining in his hands. TIL
was in the case of Trustees Bishop e
tate VS.. ]. M. Dowsett, administrato
Receiver in person; F. NJ. Hatch fl
administrator.
Probate of the will of the late Jamu
Dodd was ordered Monday by Juds
Perry, and the executors named in Il
will confirmed without bonds as r
quested by the testator. They are r
becca A. Dodd of San Francisco. h
slster-in-law, and Robert w. CatLca
or Honolulu. The testator beuueat]
MS estate as follows: To his brothe
William, Adam and Samuel Dodd. an
the widow of his brother Francis. o1
hundred dollars each. To his sist
Mary A. borough, $4,000 To b
nleces Bessie and Meg. daughters of b
- Drother Adam, and his married nice
the eldest daughter of his brotLer w
nam. $4,000 each. To Anna, daught
or MS brother Samuel, $1,000. To Mi
ME Green, daughter OF Margaret Gree
formerly OF Honolulu now resident
san francisco, $500. To his wife. Ma
70 garet X. Dodd, her dover right in l
~ estate according to law. All the
ma1nder to the aforesaid children
MS three brothers In equal portion
>: M. Davidson appeared for the pc
Homer and no one to contest.