[Delivered by VISCOUNT DUNEDIN.]
Though the full story out of which the present appeal arises is a complicated one, it is possible to set forth the facts on which the appeal really depends at no undue length.
E. G. Wright died on the 12th August, 1902. He was the owner of, inter alia. two landed estates known as Surrey Hills and Windermere in the County of Ashburton, New Zealand. He left a will dated the 28th February, 1889. whereby he appointed as trustees and executors his wife. who survived him, and his eldest son Harry Herbert Wright.
After certain specific bequests which need not be particularised. he left the residue of his estate. which included the above-mentioned landed estates and the stock upon them, to his trustees in trust. The purposes of the trust were to convert and sell the whole residue and divide it into eight shares. which eight shares were to be conveyed as follows : -
2 shares to Harry Herbert;
1 share to his wife;
1 share to Edward Fondi a son;
1 to Douglas a son, and …