HOLMES V. THE UNION TRUSTEE COMPANY OF AUSTRALIA LIMITED & ORS.

&,

IN THE HIGH COURT OF AUSTRALIA

THE UNION TRUSTEE COMPANY OF

REASONS FOR JUDGMENT

Judgment delivered at__ Sydney HL B, Dav, Gor. Print, Mab on_Friday, 3rd August, 1951.

6.19880/45

HOLMES

ss

Ve

=

HE UNION TRUSTEE COMPANY OF AUSTRALIA LIMITED & ORS.

ORDER

Appeal dismissed. Costs of al] parties as between solicitor and client to be paid out of the estate of Mary Ellen

Dafgard deceased.

HOLMES

ve

IUDGMENT

DIXON J. WILLIAMS J. KITTO J.

HOLMES

ve THE UNION TRUSTEE COMPANY OF AUSTRALIA LIMITED & ORS, DIXON J. JUDGMENT WILLIAMS J. KITTO J.

The question for decision on this appeal is whether the Supreme Court of New South Wales in its equitable jurisdiction (Sugerman Je) was right in declaring that upon the true construction of the will of Mary Elien Dafgard and in the events which have happened the appellant is not entitled to a legacy of 100 shares in the Colonial Sugar Refining Co. Ltd. but is entitled to a legacy of 50 shares in such company.

The testatrix died on 14th March 1950. She was the widow of Carl August Dafgard who died on 23rd July 1927. By his will dated 9th October 1925 he appointed the Union Trustee Co. of Aust. Ltd. and the testatrix his executors and trustees and divided his residuary personal estate into two parts, one of which he bequeathed to the testatrix absolutely and the other of which he settled on trust for the testatrix for life with remainder over. Included in his residuary personal estate were 100 shares in the Colonial Sugar Refining Co. Ltd. Soon after his death the testatriz became registered in the register of members of the Colonial Sugar Refining Co. Ltd. as the sole holder of 50 shares forming part of the portion of residue bequeathed to her absolutely and registered as the holder jointly with her co-trustee, .the Union Trustee Co. of Aust. Ltd., of 50 shares forming part of the settled portion of residue. In the year 1934 the Colonial Sugar Refining Co. Ltde made a bonus issue of shares to shareholders in the company on the basis of one new share for every share then held and the testatrix thereupon became registered as the sole holder of 100 shares and as