UNUSUAL WILL CASE.

New Zealand Herald, Volume LXIII, Issue 19511, 15 December 1926, Page 16

UNUSUAL WILL CASE.

SHARES HELD BY EXECUTORS. CLAIM MADE BY A WIDOW. COURT ASKED FOR A RULING. An unusual will dispute involving the question of the ownership of shares valued at, roughly, £7OOO came before Mr. Justice Adams in the Supreme Court yesterday. Ellen Ellis, widow, of Avondale (Mr. McVeagh), asked the Court foir an order declaring that the shares held by the New Zealand Insurance Company (Mr. Prendergast) as executors of the will of her husband, John Coles Ellis, of Avondale, belonged to her. It was set out that in August, 1898. the plaintiff transferred to the testator, on trust, 300 shares in the Devonport Steam Ferry Company, 300 shares in the Hikurangi Coal Company, 191 £lO shares in the New Zealand Insurance Company and 292 £5 shares in the National Insurance Company. From the dividends further parcels of 138 New Zealand Insurance shares, 100 Devonport Steam shares and 100 National Insurance shares were purchased. Subsequently, the New Zealand Insurance Shares were converted into .£1 shares. The alleged trust was created at the request of the deceased. The defendants, as executors! of the will, it was stated, held the shares, but declined to acknowledge the trust, claiming them as part of the estate.* It was further set out tha,t the testator had left the widow his personal estate and a life interest in his real estate. Evidence was also given to the effect that in his life time he had consistently acknowledged the trust and that in making his will and a codicil he had made no mention of shares, although he had been asked if there were shares in the estate,, The hearing will be continued this morning.