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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Volume 2, Page 378   View pdf image (33K)
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378 FARM. BK. OF MARYLAND'S CASE.—2 BLAND,

due on their judgment might be ordered to be paid to them out of
the moneys so brought in.

BLAND, C., 25th February, 1830.—The judgment against Charles
Ridgely, was assets in the hands of the executors, and as such
could not be applied exclusively by them to the satisfaction of
any one of the creditors of their testator, after the decree to ac-
count in this case; but it appears that the use was entered, in
this instance, some time after that decree; therefore, it is ordered,
that the aforegoing petition be, and the same is hereby dismissed,
with costs.

The trustee, Alexander, reported, that being under an impres-
sion that the infant defendant Philip H. Mewbern, had no means
of raising the sum which he had been ordered by the decree to pay:
and, at the instance of his guardian, he had sold a part of his per-
sonal estate, which the trustee submitted to the consideration of
the Court. After a publication of the usual order nisi, this sale
was finally ratified. The amount which some of the other parties
were ordered to contribute not having been brought in as ordered,
the trustee, Alexander, further reported, that lie had made sale
of a part of the property devised to the plaintiff John and his
children; of a part of that devised to the late plaintiff Philip and
his children; and of that parcel of land described in the decree as
the residue of the tract yet undisposed of by the executors. And
he subsequently reported, that he had sold a part of the real estate
devised to the * defendant Rezin and his children; and a
394 part of that which had been devised to the plaintiff George
W. Hammond. These sales were all finally ratified, and the pro-
ceeds having been collected, were applied in full satisfaction of at]
the creditors of the testator; the contributions charged upon the
several devisees were finally adjusted, and the estate entirely
cleared and settled.

THE FARMERS BANK OF MARYLAND'S CASE.
LIEN OF CORPORATION ON STOCK.

The clause of the Act incorporating The Farmers' Bank of Maryland, which
declares that all debts actually due to the company by a stockholder
offering to transfer, must be discharged before such transfer shall be
made, gives to the bank a mortgage or pledge of such stock, (a)

The bank, as a mortgagee, may sell such stock without suit; but if it fails or
refuses to do so, on a bill filed by the administrator of the deceased
stockholder, it may be ordered to be sold.

(a) See Albert v. Savings Bank, 1 Md. Ch. 407, note.

 

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Brantly's annotated Bland's Reports, Chancery Court 1809-1832
Volume 198, Volume 2, Page 378   View pdf image (33K)
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