102 Misc. 305 | N.Y. Sur. Ct. | 1918
This matter comes before the surrogate on the objections filed by the special guardian to the items set forth in Schedule G- of the account of the surviving trustee concerning the expenditure of the sum of $15,364 for repairs on a building forming part of the trust estate. 'These expenditures have been charged off in the account against the principal of the trust fund. On the hearing of the objections counsel submitted the matter on an agreed statement of facts substantially as follows: James H. Heroy, the testator, died on December 26, 1896, leaving a last will and testament under which the surviving trustee is now accounting. He left him surviving his widow, Amelia. W. Heroy, four daughters, Martha Heroy, Mary White Heroy, Annie Pluymert Heroy, Amelia James Heroy, who have not married; a daughter, Louise Chance Dyckman, who is married, and a son, W. W. Heroy, the surviving trustee. The widow and children of the testator still survive. The principal asset of the trust fund held by the trustee under the trust provisions of the will of testator consists of the building Nos. 108-110 Duane .street, New York city. It is a five-story loft building, and was rented to two tenants at the date of testator’s death until May 1,1904, at the annual rental of $8,750. In 1904 a lease for the term of eleven years was made to the Merchants Dining Room Company at the rate of $8,500 per annum for the first year and $9,500 for the balance of the lease. At the expiration thereof the tenant declined to renew the lease. The property remained vacant for the ensuing year and-produced no income, except the sum of $182.87 received
Decreed accordingly.