Lafferty's Estate

Citations

• 154 Pa. 430
• 26 A. 388
• 1893 Pa. LEXIS 909

Syllabus

<p>Corporations — Will—Power of trustee to vote stock.</p> <p>Testator gave bis stock in a corporation to three trustees for certain life beneficiaries. He directed that at all elections of said company the stock should be voted as his son, one of the trustees, should direct and appoint, and the trustees were directed to give a proxy or authority to vote the stock as the son might desire to vote the same. At the date of testator’s death, the son was the president of the corporation. The cotruste.es having refused to give the voting trustee the proxy directed by the will, the latter applied to the orphans’ court for an order to compel them to do so. The court found that the evidence was insufficient to sustain the allegation that the voting trustee intended to make a fraudulent use of the proxy, and made the order prayed for in the petition. Held, on appeal, by an equally divided court, that the decree of the orphans ’ court should be affirmed.</p>