First.  It  is  claimed  by  a  residuary  legatee  under  the  will  of
Mrs.  Famham  that  Mr.  Famham's  will,  in  its  provision  that
she  should  have  the  ''  rents,  profits  aud  income  "  of  the  residue
gave  to  her  the  mercantile  profits  from  the  business  conducted
through  Ropes  &  Co.,  which  accrued  between  his  death  and  the
time  when  the  transactions  were  finally  liquidated*  This  claim
is  stated  by  counsel  as  follows :  ^'  Mr.  Famham's  will  gave  his
wife  the  profits  on  the  Ropes  business  during  the  period  of
liquidation."

At  the  death  of  Mr.  Famham  no  right  or  interest  in  the  firm
assets  passed  to  his  representatives,  nor  was  there  any  such  right
or  interest  which  could  be  disposed  of  by  his  will.  He  had  no
such  right  touching  the  property  of  his  partnership  that  he
could  bequeath  its  profits.  He  did  not  have  them  to  give.  Upon
his  death  his  firm  was  dissolved,  the  surviving  partner  became
the  legal  owner  of  all  the  firm  assets,  necessarily  including
profits  to  accrue  during  the  period  of  liquidation,  and  the  es-
tate of  the  deceased  partner  had  nothing  but  the  right  to  an  ac-
count and  to  such  sum  as  might  be  found  upon  the  account  to
be  due  from  the  survivor.  This  was  merely  an  equitable  chose
in  action  against  the  surviving  partner,  and  any  sum  which
might  be  paid  in  solution  thereof  would  pass  without  brand  or
earmark  to  distinguish  profits  from  principal.  It  was  in  the
hands  of  the  estate  nothing  but  principal.
