Case Name: Chemical Bank and Trust Company, Formerly The Chemical National Bank of New York, as Trustee under a Certain Trust Indenture Dated February 19, 1929, and as Trustee under a Certain Supplemental Indenture Dated April 12, 1930, Executed by Mary A. Ott, Deceased, Respondent-Appellant, v. Margaret K. Ott, Individually and as Executrix, etc., of Henry L. Ott, Deceased, Clarence F. Ott, Lillie Ott Snyder, Alfred W. Ott, Blanche Marye Ott Hawkins, John Lapsly Ott (Appeal Withdrawn), Mary Louise Ott, Clarence Charles Meixner and Charles Bernard Irvin Manteuffel, Appellants-Respondents, Impleaded with Edith Margaret Ott Meixner, Ruby Florence Ott Manteuffel and Chemical Bank and Trust Company, as Administrator with the Will Annexed of Mary A. Ott, Deceased, and All Other Persons Who, as Assignees, Legatees Next of Kin, Issue or Otherwise of the Said Mary A. Ott, Deceased, or of Any of the Above-named Parties, or by Purchase, Inheritance or Otherwise Have or Claim to Have an Interest in the Property Which Is the Subject of This Action, Which Persons, if Any There Be, and Their Names and Residences, Are Unknown to the Plaintiff, Respondents
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1936-07-03
Citations: 248 A.D. 406
Docket Number: 
Parties: Chemical Bank and Trust Company, Formerly The Chemical National Bank of New York, as Trustee under a Certain Trust Indenture Dated February 19, 1929, and as Trustee under a Certain Supplemental Indenture Dated April 12, 1930, Executed by Mary A. Ott, Deceased, Respondent-Appellant, v. Margaret K. Ott, Individually and as Executrix, etc., of Henry L. Ott, Deceased, Clarence F. Ott, Lillie Ott Snyder, Alfred W. Ott, Blanche Marye Ott Hawkins, John Lapsly Ott (Appeal Withdrawn), Mary Louise Ott, Clarence Charles Meixner and Charles Bernard Irvin Manteuffel, Appellants-Respondents, Impleaded with Edith Margaret Ott Meixner, Ruby Florence Ott Manteuffel and Chemical Bank and Trust Company, as Administrator with the Will Annexed of Mary A. Ott, Deceased, and All Other Persons Who, as Assignees, Legatees Next of Kin, Issue or Otherwise of the Said Mary A. Ott, Deceased, or of Any of the Above-named Parties, or by Purchase, Inheritance or Otherwise Have or Claim to Have an Interest in the Property Which Is the Subject of This Action, Which Persons, if Any There Be, and Their Names and Residences, Are Unknown to the Plaintiff, Respondents.
Judges: 
Reporter: Appellate Division Reports
Volume: 248
Pages: 406–422

Head Matter:
Chemical Bank and Trust Company, Formerly The Chemical National Bank of New York, as Trustee under a Certain Trust Indenture Dated February 19, 1929, and as Trustee under a Certain Supplemental Indenture Dated April 12, 1930, Executed by Mary A. Ott, Deceased, Respondent-Appellant, v. Margaret K. Ott, Individually and as Executrix, etc., of Henry L. Ott, Deceased, Clarence F. Ott, Lillie Ott Snyder, Alfred W. Ott, Blanche Marye Ott Hawkins, John Lapsly Ott (Appeal Withdrawn), Mary Louise Ott, Clarence Charles Meixner and Charles Bernard Irvin Manteuffel, Appellants-Respondents, Impleaded with Edith Margaret Ott Meixner, Ruby Florence Ott Manteuffel and Chemical Bank and Trust Company, as Administrator with the Will Annexed of Mary A. Ott, Deceased, and All Other Persons Who, as Assignees, Legatees Next of Kin, Issue or Otherwise of the Said Mary A. Ott, Deceased, or of Any of the Above-named Parties, or by Purchase, Inheritance or Otherwise Have or Claim to Have an Interest in the Property Which Is the Subject of This Action, Which Persons, if Any There Be, and Their Names and Residences, Are Unknown to the Plaintiff, Respondents.
First Department,
July 3, 1936.
Thomas B. Gilchrist of counsel [Henry W. Taft, Catherine Noyes Lee, William G. Fennell and W. Dickson Cunningham with him on the briefs; Cadwalader, Wickersham & Taft, attorneys], for the defendants Clarence F. Ott, Alfred W. Ott, Lillie Ott Snyder and Blanche Marye Ott Hawkins.
Jas. Madison Blackwell, guardian ad litem, for the infant defendants Mary Louise Ott, Clarence Charles Meixner, Charles Bernard Irvin Manteuffel and all unborn persons.
Philip W. Lowry of counsel [Hill, Lockwood & Redfield, attorneys], for Margaret K. Ott, individually and as executrix, etc., of Henry L. Ott, deceased, defendants.
Alfred McCormack of counsel [Carl A. deGersdorff, George M. Billings and George B. Turner with him on the brief; Cravath, deGersdorff, Swaine & Wood, attorneys], for the plaintiff Chemical Bank and Trust Company, as trustee, etc.
Paul A. Crouch of counsel [Joseph F. Mann with bim on the brief; Clark, Carr & Ellis, attorneys], for the respondents Mrs. Meixner and Mrs. Manteuffel, remaindermen.

Opinion:
Glennon, J.
We are in accord with the views expressed by Mr. Justice Dore, except as to the formula for calculating damages.
In our opinion, the amount of the surcharge should be based solely on the loss to the estate, consisting of the difference between the price finally received and the amount that would have been realized if the trustee had performed its duty at the expiration of the eighteen months' period, which commenced at the date of the death of the settlor. The judgment should be modified as thus indicated.
• In order to avoid the necessity of remitting the case to the referee for the purpose of fixing damages, counsel may submit on notice the actual figures with calculations of the loss, so that it may be reflected in the judgment to be entered.
Martin, P. J., and Untermyer, J., concur; Dore and Cohn, JJ., dissent in part.