Beatty v. Safe Deposit & Title Guaranty Company
| Decision Date | 03 January 1910 |
| Docket Number | 8 |
| Citation | 226 Pa. 430,75 A. 592 |
| Parties | Beatty v. Safe Deposit & Title Guaranty Company, Appellant |
| Court | Pennsylvania Supreme Court |
Argued October 26, 1909
Appeal, No. 8, Oct. T., 1910, by defendant, from decree of C.P. Clarion Co., May T., 1908, No. 2, on bill in equity in case of John K. Beatty v. Safe Deposit & Title Guaranty Company in its own right and as Trustee et al. Affirmed.
Bill in equity for an account.
The material portions of the defendant's answer were as follows:
3. In answer to the sixteenth paragraph of said bill, defendant says that there remained in its custody, as trustee, at the time of the service of the said bill upon it, the sum of $1,510.64, the net proceeds of the sale of lots, subject to deductions for fees and commissions to which it is entitled and which said sum belongs to the said defendant, and the cestui que trustents, in proportion to their ownership in the lands described, and which was at that time the only fund in the hands of this defendant, as trustee, in which the plaintiff is interested, or out of which he is entitled to a distributive share.
4. In answer to seventeenth paragraph of said bill, defendant says "That after having paid the note of $6,000 and interest therein mentioned, according to the terms and conditions of the declaration of trust designated as exhibit 'A,' it continued to act as trustee, and to sell and dispose of the real estate described in plaintiff's bill, with the full knowledge, consent, agreement and approval of all of the cestui que trustents, and from time to time paid to them, and to each of them, their full shares of all of the profits arising from the sales of said land, in excess of said note and interest thereon, which said payments or distribution of funds was paid by this defendant and received by each of the cestui que trustents as settlements in full to the several dates of said payments, the last payment by it so made being on or about September 11, 1906, at which time it, the said defendant, had no knowledge or notice of any conveyance or assignment of the interest of Florence M. Bailey and J. D. Bailey, her husband, to the plaintiff in this case, nor any claim by the plaintiff that he owned an interest therein, and it denies that it was its duty to convey to the plaintiff, or any of the other cestui que trustents, the balance of the land remaining unsold until it was requested so to do, and it further avers that it has not at any time been requested by the plaintiff to convey to him any interest in the said lands."
5. In answer to the eighteenth paragraph of said bill, this defendant says: "That it has in its possession the sum of $1,510.64, and that said sum, after deducting for commissions and fees due to this defendant, is the only sum in its hands, any portion of which is due or owing to plaintiff."
The court entered a decree directing an account.
Error assigned was the decree of the court.
Appeal dismissed at appellant's costs.
F. J Maffett, with him H. M. Rimer, for appellant. -- An appeal to this court by any of the defendants who may be...
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