Matter of Long Island L. & T. Co

In Matter of Long Island L. & T. Co. (Garretson)(92 A.D. 1, 4, 87 N.Y.S. 65 [2d Dept], affd 179 N.Y. 520, 71 N.E. 1133 [1904]) the trustee assigned to the trust a whole mortgage which it held individually. There was no indication of the source from which the mortgage had been obtained, or from which self-dealing might be inferred. The Court stated that "the trustee accounted in 1898, but none of the questions here raised was put in issue in the proceeding, and the decree on that accounting discharged the trustee only as to the assets directed to be distributed thereunder and the amount of the trust estate."