Stone v. Baldwin

Rehearing denied March 24, 1953. The opinion of the Appellate Court recites very fully and correctly the facts in controversy in this cause, which are necessarily to a large extent repeated here. The will and codicil of Fannie G. Baldwin, subsequent to her death, were duly admitted to probate by the probate court of Peoria County. Claude U. Stone was appointed executor and administered the estate and was discharged as such executor on December 22, 1946. The will created a trust and by the terms of the codicil Claude U. Stone was designated as the sole trustee. Stone accepted the trusteeship and continued to act under the direction of the circuit court of Peoria County until he retired on June 17, 1949. Acting under the provisions of the will creating the trust, Stone designated George Z. Barnes successor-trustee, and Barnes qualified and acted as sole trustee until his death on July 16, 1951. The major part of the decedent's estate consisted of 798 shares of stock in the Peoria Star Company, which company had been engaged for many years in publishing an afternoon newspaper in the city of Peoria.