Phila. Trust, Safe Deposit & Ins.'s Appeal

Citations

• 1 Monag. 230
• 16 A. 734
• 1889 Pa. LEXIS 1290

Syllabus

<p>Where a corporation distributes its 'surplus profits among the stockholders by 'issuing scrip or bonds convertible into stock, such scrip or bonds constitute dividends under another form, and, where stock of such corporation is held by a ■trust estate, the scrip or bonds, thus distributed, are income and not principal, and consequently belong to the life-tenant.</p>