54 HIGH COURT OF CHANCERY.

[The facts of this ease will appear from the Chancellor's
opinion :]

THE CHANCELLOR:

To the relief prayed by this bill, two objections are taken in
the answer of the defendant, John C. White, against whom also
a recovery is sought, which seem to the Chancellor insuperable.
These objections are independent of the merits and will be first
considered.

The bill alleges, that prior to the year 1839, forty-six shares
of the capital stock of the Manhattan Company of New York,
were transferred to the defendant, Joseph White, in trust for
the benefit of the complainants—that on or about the 28th of
January, 1840, the said Joseph executed a letter of attorney to
Campbell P. White, of New York, empowering him to sell and
transfer to the defendant, John C. White, also of New York,
the said shares, and that in the months of January and February
of the same year, the shares were transferred accordingly to
said defendant, and that said defendant knew that the stock
was trust property—that said defendant accepted and received
said shares at the market value, which at the time was about
$80 per share, but that he has made no returns of the proceeds
derived from the sales of said stock, nor the interest accruing
thereon, though payment has been duly demanded of him, and
that he now owes and is indebted to the complainant for the
whole amount of the sales, principal and interest. The bill
then prays that the defendant, John C. White, may account for
the sales of said stock, and pay over the proceeds of the same,
and for further relief.

Joseph White, who was subsequently released by the com-
plainants from all responsibility, by his answer admitted the
truth of the allegations of the bill, and submitted to such decree
as the court might think right.

The other defendant, John C. White, before meeting and
denying upon their merits the bill of the complainants to a de-
cree against him, relies by his answer—first, upon the want of
jurisdiction of a court of equity, over the case made by the