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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 502   View pdf image (33K)
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502 HIGH COURT OF CHANCERY.
trust fund in the purchase of 222 shares of the capital stock of
the Bank of Westminster. This stock was transferred on the
books of said bank to Wayman and Stockett, as trustees under
said will, for the benefit of Anne Jones, wife of Samuel Jones.
This bank, by virtue of the acts of Assembly, explained and
stated in 5 Gill, 356, et seq., was afterwards divided into two
branches, and. its name and location changed, the mother bank
under the name of The Farmers and Mechanics Bank of
Frederick, being located at Frederick, and the branch con-
tinuing at Westminster, under the name of the Bank of
Westminster. By this change, and through default of the
banks, the stock in question, in 1829, stood upon the books of
the mother bank at Frederick in the name of "Anne Jones,
wife of Samuel Jones," and on the 14th of June, 1830, the
whole of it was transferred by said Jones and wife to various
purchasers.
Wayman, one of the trustees, had notice of this illegal
transfer a short time after it was made, and instead of bring-
ing the matter to the notice of the court, proceeded to obtain
reimbursement therefor, by receiving transfers of stock, &c.,
from Jones, and after his decease in 1831, from his wife, as
his administratrix, in the manner described in the opinions
here reported, and it is chiefly as to his liability in the premi-
ses that the questions decided in these opinions have reference.
They were delivered by the Hon. Nicholas Brewer, Associate
Judge of the third judicial district, to whom the cause was cer-
tified by the Chancellor, (he having been of counsel in the
cause,) upon exceptions to the reports and accounts of the Au-
ditor. These exceptions are numerous and lengthy, but need
not be stated, as the substance of the most important of them
sufficiently appears from the opinions themselves.]
OPINION BY JUDGE BREWER :
The Court of Appeals, in this case, have determined that
the Farmers and Mechanics Bank of Frederick and the Bank
of Westminster, are eventually liable to the cestui que trusts
for the amount of the stock transferred by Jones and wife by

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 502   View pdf image (33K)
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