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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 322   View pdf image (33K)
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822 HIGH COURT OF CHANCERY.
of the net sales, after deducting the dividends as the basis,
and. giving 9,761 years purchase thereof aa the value of the
life estate according to said tables, estimating the present
value of the annuity at six per cent. By this estimate, the
allowance amounted to $21,135 49. In account E, six per
cent. on the net proceeds of sale, according to accounts A and
B, was assumed as the proper basis for the annuity, and the
value of the life estate was calculated in the same way as in
account D. By this estimate, the allowance amounted to
^16,450 12.
The Auditor submitted that all these accounts were erroneous
except account B. It was proved that Mrs. Abercrombie, at
the time of the sale, was fifty-three years of age; that her
health was very precarious and infirm; that from her infancy
her constitution was never robust, and that her lungs were dis-
eased, and she had had several hemorrhages. A deposition of
John F. James, the Actuary of the Girard Life Insurance
Company of Philadelphia, to the effect that the Carlisle tables
were used by all, or very nearly all such companies in this
country, and that they furnish a good business criterion, when
used as the basis of transactions was also filed in the cause.
The Insurance Company excepted to the report and accounts
of the Auditor: 1st. Because accounts A, B, and C, in mak-
ing allowance for the life interest, do not base it upon the
actual probabilities of life at the age of the cestui que vie, as
ascertained by the best authorities. 2d. Because a deduction
is made in account B, on account of the ill health of the
cestui que vie. 3d. That no allowance is made in the first
three accounts to the Company, for the proportionate part of
the dividends which had accrued up to the day of sale.
The complainants also excepted, because in account B a
sufficient deduction was not made from the value of the life
interest of Mrs. Abercrombie, on account of the bad state and
condition of her health, they insisting that the Auditor ought
to have added ten years or more, instead of five, to her age.
They also excepted to the computation of such allowance by
the Carlisle tables.

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 322   View pdf image (33K)
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