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Bland's Reports, Chancery Court 1809-1832
Volume 201, Page 54   View pdf image (33K)
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54 LATIMER v, HANSON.

until the right of the claimant shall, on notice, have been decided.
In execution of the court's order passed upon the petition of Wallaces
devisees, filed 1st April 1824, he has stated the trustee's account with
the estate, marked B., applying ike proceeds thereof to the payment of
his allowances for commission and expenses, and of the costs in this
court, and distributing the balance among the deceased's residuary
devisees, assuming thus, that the personal estate is sufficient for the
payment of debts and legacies, nothing being shewn to the contrary.
And he has stated too, the trustee's account C. for so much of the pro-
ceeds as he has received; charging him therewith, and at his request,
with the amount also of sales made to his son N. Brewer, junr. then
crediting his said allowances for commission, &c. and the sum he
paid into court on the 6th of April last; and so shewing a balance
of $673 77 cents in his hands yet to be accounted for. At the foot
of that account he has charged the trustee with interest also, from
1st January 1822, as directed; and this makes the balance in his
hands to be $1393 22, bearing further interest from 6th April 1825.

On the 14th of July 1825, Nicholas Brewer, the trustee, filed his
report, on oath, shewing cause in obedience to the order of the 17th
of March 1825, in which report he says, " That by the decree,
under which he acted, it became his duty to sell the property decreed
to be sold, to take bond with sufficient sureties for the purchase
money, to bring the bonds so taken, and the purchase money when
received into court, or to apply it under the Chancellor's direction
to those entitled to receive it, and he humbly conceives, that the
Chancellor had no power to order him to invest the money when
received and the accruing dividends compelling him to undergo
labour and encounter risks not contemplated by his original appoint-
ment, nor intended to be compensated by his commission, nor does
he believe, that the Chancellor had any power to order the invest-
ment of the proceeds of the sale of the real estate at all.

" Notwithstanding, the trustee further states, that in obedience to
the said order he did endeavour to procure stock of the Farmers
Bank of Maryland, but was not successful; and the stock of the
Government of the United States was, at the date of the order, and
ever since has been, above par, and would not have secured to the
claimants six per cent, interest on their claims, which appeared to
be the object of the petitioners. And the trustee, residing in Anna-
polis, could not have obtained it, even at the then value, without the
employment of brokers, or other agents, at the expense of commission
to them, and involving risk to himself by their possible infidelity.

 

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Bland's Reports, Chancery Court 1809-1832
Volume 201, Page 54   View pdf image (33K)
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