The Hawaiian gazette., 1900-03-02
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
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come LneI COZ ~ .ei IaIn pelson5 lof lac
wan IeuIaInurr over. AItei wdiu5 a
sluuk ulyIuenu Oh Two suaI es U new
sLoch IuI every Ina ee sndfob "a oid sLoch
was issueu W Lac coiyorauon "nIcn
apprupI IaLed as payment LDei elor AZ
,Idf au equal auIounL o. lts net EARN
Ings All o. wnicn Dad accumul Since
the death OI Inc desLator. beloie the Is
sue ~ the new SLock, me Old STOCK was
at premiuLI OF over S4vU snare anu
after me new issue the STOCK was at
a premium Of over $zUO share.
Inc circuit Judge he'd that all the
new stock should so TO The lie tenants.
The Supreme Court reverses the decree
OF the circuit Judge, holding: "Ihat
50 much OF the new stock he'd by the
is, up TO the par value of the new stock.
should go to the lie 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:
"If distribution OF earnings Is made
in tue form of new stock and the stock
is above par, It necessarily follows that
the life tenant il entitled only to SO
much of the stock as equals in value
the earnings appropriated, and that the
rest of 1t 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. III. w. Hitchcock and
Cora II. Townsend, his sons and
daughter To these the old Hilo home
stead Is bequeathed. Mrs. Loebenstein
is left lot on School street and Mrs. /
Townsend an adjoining one running
1886 feet on Waianuenue street Each
OF the testator's sons receives lot and
half of 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 J. Hitchcock is given the testator
title in the Puma land purchased by her
father, II. G.. Hitchcock, and the deceas-
ed jointly. The Hilo public library Ia
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.
Judge Perry at chambers approved
The accounts and ordered the discharge
Of George j. Campbell. receiver. upon
his payment to J. M Dowsett. 8dmlnis-
traitor OF the J. |. Dowsett Estate, the
balance remaining In his hands. This
was In the case OF Trustees Bishop Es-
tate VS.. j. Nj. Dowsett, administrator.
in person; +, NJ. Hatch for
Probate OF the will of the late James
Dodd was ordered Monday by Judge
Perry. and the executors named In the
viii confirmed without bonds as re-
luested by the testator. They are Re-
)ecca A. Dodd OF San Francisco, his
ilster-in-law, and Robert w. Cathcart
IF Honolulu The testator bequeaths
ais estate as follows: To HIS brothers
Adam and Samuel Dodd. and
he widow OF his brother Francis, one
hundred dollars each. TO his sister
Nary A. borough. $4,000. To his
iieces Bessie and Meg. daughters OF HIS
brother Adam, and HIS married niece,
he eldest daughter OF his brother VIII
lam SO 900 each. TO Anna. daughter
II his brother Samuel, $1,000. To MIN
NE Green. daughter OF Margaret Green.
OF Honolulu now resident OF
San Francisco. $500. TO his wife Mar
saret II, Dodd her dover right In his I
state according TO law. All the re-
to the aforesaid children OF
Ms three brothers IN equal portions.
!. M. Davidson appeared for the petit
Toner and no one to contest.
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