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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 413   View pdf image (33K)
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JONES v. STOCKETT. 413

intended it should continue to be 'good security;' and thus, under-
standing the testator to mean permanently and durably good secu-
rity, I feel that my discretion must be limited to a selection among
securities of that description; that is, government stock, or a mort-
gage on unincumbered real estate, or good bank stock. But apart
from this manifestation of the testator's intention, it must be recol-
lected, that generally, in cases of this kind, if the trustees were of
themselves to put this legacy out on mere personal security, it would
be deemed a breach of trust, and they would be held accountable
accordingly, (d) The prayer of the plaintiffs cannot be granted;
and, therefore, it is Ordered, that the said petition be, and the same
is hereby dismissed with costs.

On the 16th of December, 1825, the defendant Wayman put in
his answer, in which he admits the will of his testator; and states,
that a provision having been made therein for the testator's
nephew Larkin Shipley, as well as for the plaintiff, it was agreed,
that the defendant should take charge of the bequest to the legatee
Larkin; and that the other defendant should manage the legacy
given to the plaintiff Ann; that a large proportion of the testator's
estate consisted of bonds and notes, some of which, and particu-
larly those deemed doubtful, had been collected, or pressed for
payment, leaving such as were good to stand on interest; consi-
dering them as good investments as could be made within the
meaning of the testator's will; that he had made some payments
to the plaintiff Ann; and that he had wished to have had the
whole of her legacy paid over to her husband as proposed by him;
but that the court had determined otherwise.

After which Jones and wife, by their petition, prayed that the
investment might be made in stock of the Bank of Westminster.

20th January, 1826.—BLAND, Chancellor.—Ordered, that the
trustees Stockett and Wayman, unless cause to the contrary be
shewn by them, on or before the fourth day of the next March
term, be and they are hereby directed and required to invest the
money heretofore brought into this court, in stock of the Bank of
Westminster; the said stock to be transferred to, and held by and

(d) Brown v. Litton, 1 P. Will. 140; Trafford v. Boehm, 3 Atk. 444; Adye v.
Feuilleteau, 1 Cox, 24; De Manneville v. Crompton, 1 Ves. & Bea. 359; Wilkes v.
Steward, Cooper's Rep. 6; Walker v. Symonds, 3 Swan. 63; Collis v. Collis, 2
Cond. Cha. Rep. 459.

53 V. 2

 

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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 413   View pdf image (33K)
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