129 Misc. 751 | N.Y. Sup. Ct. | 1927
On November 17, 1890, Peter W. Gallaudet and Henry Fitch, Jr., individually and as copartners of the firm of P. W. Gallaudet & Co., by an instrument in writing, duly executed, assigned all of their individual and firm property to one C. Elliott Minor in trust for the benefit of their creditors. Thereafter an inventory of the assigned estate, together with a schedule of their creditors, was duly filed. In 1893 an action for an accounting was instituted in the Court of Common Pleas of New York county by William and Edward Eggert against the above-named assignee and assignors. Subsequently the assignee filed his account, which was referred to a referee to take and state. On the coming in of the report a final judgment was entered thereon on August 10,1894, confirming the same. The assignee was charged with the sum therein specified, together with a claim in litigation involving a substantial block of stock of the Houston and Texas Central Railroad Company. The judgment, among other things, also directed that the assignee reserve from the funds in his hands the sum of $2,150 to meet the expense to be incurred in the litigation involving the stock referred to and other expenses, including his final accounting. The judgment further provided for the distribution by the assignee of the remainder of the funds with which he was charged among the preferred and other creditors mentioned therein and in the proportion stated. The dividends were accordingly paid prior to December 31, 1898. Some time in 1903 Peter W. Gallaudet, one of the assignors, died, leaving him surviving as his sole lawful issue Belle G. Beveridge. Upon such death Henry Fitch became the sole surviving partner of the assignor’s firm. In February,. 1919, the assignee died, leaving a will, in which his widow, Emma. Minor, was named as executrix, and she thereafter qualified as such. Two years later, in February, 1921, the said executrix, through her