Norwich bulletin., 1921-06-10
PLANT ESTATE EXECUTORS
 HANDLED RIG sI

Further hearing is to be held in the Groton probate court on June 27th on the question of what allowances are to be allowed the executors of the estate of Commodore Morton F. Plant. The court Is asked to rule also on the question of whether interest on time loans from the date of MT. Plants death to the date of cipal or interest.
 Three of the active executors, The United States Trust Co.,, George L. Shear CT, who is a member of the firm Stewart & Shearer, counsel for the United States Trust Co.,, and Francis dec Sullivan, each ask for an allowance of $300, 900 for services. Henry B. Plant, son of the late Morton F. Plant. fourth executor, stated on the witness stand at the Gro ton probate court this week that he is not asking for any stipulated amount, but that he is satisfied with the requests of the three active executors, at $300, 900 each, and that so far as his own allow ance is concerned he was willing to leave it to the judgment of the court what hls services were worth. but he thought that both he and Mrs. Hayward should receive the same amount, whatever that might be-
 Mrs. Mae Caldwell tPlant) Hayward. the fifth executor. through her counsel, Walter c. Moves of New York, and Hull McGuire & Hull of New London, opposes the amount of S30O.O0O. each for services of the executors. She has claim for $1oo,0oO for services, but this amount was put there, it is claimed. by the other executors, and not by herself.
 Attorney Moves stated in court that Mrs. Hayward and her son, Philip Man waring Plant, do not waive their right to present a larger amount for services and when it is determined just what amount the court allows the executors, | she will determine the amount which she will ask.
 Attorney Moves intimated that an ap- peal would be taken to the superior l court in case the decision in unsatis- l factory to his client, and it is expected | that in either case an appeal to the su- perior court will result
 Edward W. Sheldon, president of the l United States Trust Co.,, and acting for il as an exeeutor, maintained on the wit ness stand that the Plant estate was ! most difficult one to handle, because |! of the fact that at the time of his death ! MT. Plant was engaged in large opera tions, some of which were partly con summated and 1t was necessary to bor- 1 row money to carry them through as it was considered that this was the only way to save the estate from a larger 1 shrinkage.
 The struggle to keep the Shore Line in operation was gone into and the de cision of the executors to apply for a re. 1 ceivership.
 MT. Sheldon said that the cerical work was done under the direction of MT 1 Sullivan at the office of the Plant es- tate while the transfers and sales were made at the United States Trust Go.
 He said that Mir. Plant owed abou
 $10. .o00, ,000 in debts and there were in heritance taxes, federal and state taxes of approximately S5,Ooo,0 900, which mad
 it necessary to raise about $15. .O00,0 900 il
 cash within a year. This. was a bis
 task, witness said, and 1t was necessar!
 to use great amount of caution in dis
 posing of stocks and bonds so that tn
 market would not be affected and thu
 force down the price of the securities
 The world war conditions also made
 difficult to make profitable sales durin
 that time.
 It mas accomplished however, wit
 ness said.
 On cross examonation 1t was brough out that during the trip that the Unite
 States Trust Go. handled the Plant es tate, that is from Nov. 22. 1918. to Jun 1 l, 1871, the company handled a hundre or more other estates ranging from $35 00o, 900, down to s3oo0 MT. Sheldo agreed that the commissions which th
 Trust company received from all thes estate outside the Plant estate amount l ed to $529,000 during the year 1919 an $s4s,0o0 during the year 1920. The con pany is now asking for $3oO,ooo fom tn
 one estate.
 ) Witness said that the compny loane the sum of $500, 900 to the estate at on I time and $5oo,oo0 at another time an \ charged the estate per cent. Thes l loans were to enable the estate to talk l up time loans which has been obtaine
 by MT. Plant and to make up the SUI