Our Lady of Mercy Convent v. Stone

JAMISON, J.,

pro

tem.

On the twenty-fifth day of June, 1929, deceased executed an olographic will, naming respondents as executors thereof. Her death occurred on November 3, 1929. Thereafter her will was duly probated. On August 20, 1930, respondents filed their first and final account.

On the eighth day of September, 1930, the court made an order settling the said account and decreed distribution of the estate. From the order settling the final account and from the decree of distribution the contestant Our Lady of Mercy Convent has appealed.

The testatrix by her will bequeathed to a number of her friends various sums of money, articles of jewelry and personal effects and made ten of her friends her residuary legatees. Among other bequests that she made was the following: “5000.00 (Five Thousand Dollars) also Building and Loan stock to our Lady of Mercy Convent.”

It was stipulated that at the date of her death she was the owner of five shares of the capital stock of the Merced Mutual Building and Loan Association. It was further stipulated that deceased, at the date of her death was the owner of $13,000 on deposit with the following named building and loan associations, namely, the Pacific States Savings and Loan Company, the United States Building and Loan Association, the Mutual Building and Loan Association of Fresno, California, and the Fresno Guarantee Building and Loan Association, the said sum being evidenced by fully paid investment certificates; that the Pacific States Savings and Loan Company was a building and loan association; that

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each of said four last-named associations had issued and outstanding a guaranteed capital stock, but that deceased at the date of her death did not own any capital stock of said last-named four associations.

By its decree of distribution the trial court distributed the five shares of the capital stock of the Merced Mutual Building and Loan Association to appellant, but over the objections of appellant distributed the $13,000 evidenced by the said investment certificates to the legatees to whom were willed legacies in specified sums with remainder to the residuary legatees.