151 N.Y.S. 1022 | N.Y. App. Div. | 1915
The surrogate upon the facts proven was authorized to appoint Mr. Randall as executor and trustee to succeed Mr. Heuscheler, and to remove Mr. John H. B. Boyle from such positions. (Matter of Smith, 26 N. Y. St. Repr. 237; Matter of Havemeyer, 3 App. Div. 519; Oliver v. Frisbie, 3 Dem. 22; Matter of Engel, 155 App. Div. 167.) Randall, like his predecessors, had the confidence of the testator, as the will shows, and it was provided that the persons appointed trustees should be incorporators. It is desirable that such persons should have active participation in the corporation, which is an agency for administering the estate. The value of the trust estate is dependent in a large degree upon the stock of the corporation, the success of which requires provident, attentive and skillful management by its directors. The corporation exists by direction of the will. The intention of Mr. Boyle to prevent or to embarrass the formation of the corporation is evident; his failure adequately to participate in its management as a director appears from his testimony; his suggestion of winding it up or
The decree in each case should be affirmed, with costs against the appellant.
Jenks, P. J., Thomas, Eioh and Putnam, JJ., concurred; Bure, J., not voting.
Decree of the Surrogate’s Court of Kings county affirmed, with costs against the appellant.