Estate of Eilert

This is an appeal from an order settling the fifth annual account of a trustee under the will of Delia Eilert, deceased. Delia Eilert died on May 29, 1923, and in accordance with her will there was distributed to the respondent, as trustee, fifty-three and four-fifths shares of the capital stock of Eilert Products Company, a corporation, the net earnings and income to be paid to the appellant, William J. Eilert, during his lifetime and, on his death, the cor%nis of the trust to go to certain remainder-men. The appellant was president of the Eilert Products Company. This corporation owned twenty-four acres of land in the city of Fresno, upon which were situated certain buildings and equipment formerly operated as a brewery and later used in the manufacture of ice-cream and soft drinks. The corporation also owned three other pieces of real property, of which one had been used for warehouse purposes and the other two had formerly been leased to others for saloon purposes.

In 1925 the twenty-four acre tract of land, with the buildings and equipment thereon, was sold for $400,000, the purchase price to be paid in installments, and in 1926 the three other properties were sold for…