Heilbron v. Guarantee Loan & Trust Co.
Decision Date | 08 February 1896 |
Citation | 43 P. 932,13 Wash. 645 |
Court | Washington Supreme Court |
Parties | HEILBRON ET AL. v. GUARANTEE LOAN & TRUST CO. |
Appeal from superior court, King county; T. J. Humes, Judge.
Action by Abram Heilbron and others, executors, against the Guarantee Loan & Trust Company. Judgment for plaintiffs, and defendant appeals. Affirmed.
Preston & Albertson, for appellant.
R. C Strudwick, for respondents.
Respondents (plaintiffs in the court below), as executors of the last will and testament of George H. Heilbron, deceased, brought this action against the appellant, a banking corporation of the city of Seattle, to recover possession of two certain policies of insurance written by the Equitable Life Assurance Society, in the sum of $5,000 each, insuring the life of the said George H. Heilbron. At the time of his death the deceased was the active manager of the appellant bank, and one of its trustees. The defendant, in its answer admitted having possession of the policies, and, for an affirmative defense, alleged "that on or about the 8th day of February, 1895, said George H. Heilbron, since deceased, was indebted to said defendant in a sum exceeding the sum of ten thousand dollars ($10,000), and that of said sum there still remains, and now is, wholly due and unpaid to defendant, a sum exceeding $10,000; that on or about said 8th day of February, 1895, said George H. Heilbron, in his lifetime, and while he was indebted to said defendant as aforesaid, delivered to, assigned to, and deposited with said defendant said policies of insurance mentioned in said complaint herein, and each of them, as collateral security for the payment of said in-indebtedness of said George H Heilbron. ***" A jury was waived, and, the court having made its findings and conclusions, judgment was entered thereon in favor of respondents, from which judgment appellant has appealed.
The question presented for determination is, were the policies in fact pledged to the appellant? The following finding was made by the trial court, and duly excepted to by the appellant "That the said George H. Heilbron did not, in his lifetime, deliver the possession of said policies to defendant (appellant), as a pledge or otherwise." In support of its claim to the possession of said policies, the appellant produced as a witness upon the trial below one E B. Downing, its secretary, and an active officer in said corporation. It appears from his testimony that at a meeting of the directors of the appellant bank held in February, 1895, the question of Heilbron's indebtedness to the bank was considered by said directors, and additional security for such indebtedness was requested. The witness then proceeded as follows: Upon cross-examination, the witness testified as follows: ...
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