Heilbron v. Guarantee Loan & Trust Co.

Decision Date08 February 1896
Citation43 P. 932,13 Wash. 645
CourtWashington Supreme Court
PartiesHEILBRON 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.

GORDON J.

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: "A. After this meeting I was speaking about, Mr. Heilbron said to me that he had, amongst his private papers, two five thousand dollar policies in the Equitable Life Assurance Company, and in case anything happened to him he wanted me to get those policies, and put them in amongst his other collateral. Q. Well where did this conversation take place,-in what part of the bank? A. In the manager's office. Q. Well, what did you do when that was said by Mr. Heilbron? A. I said to him that I didn't know exactly where those papers were, and that, in case anything happened, it would be better if I knew exactly where to find them, and he said that he would show me. He says, 'Why, you know where my private papers are.' I said, 'Well, I have seen a pouch in there, with your name on them;' and I said I would rather he would show me, so I would be positive, and he went in with me, and opened the drawer, and showed me the pouch, and said that they were in there. Q. Well, state what he said. A. Well, I have stated that he said, in case anything happened to him, that he wanted me to get those policies, and put them in with this other collateral." Upon cross-examination, the witness testified as follows: "Q. Where was the pouch of papers to which Mr. Heilbron, in this conversation, referred? A. It was in the drawer in the other vault,-in the general vault of the bank. Q. Was it in the drawer in which Mr. Heilbron kept his private papers, and so forth? A. He kept this pouch, that is all the papers he had in there. There was other papers in there belonging to the bank, and I don't know of any papers he had,-private papers,- outside of this pouch. This pouch was in there, and other papers belonging to the bank,-abstracts, and so forth. Q. Who had access to this pouch of Mr. Heilbron's? A. Who had access to the pouch? Q. This private pouch of Mr. Heilbron's? A. Why, Mr. Heilbron had access to it, and I presume that I had, under his direction. I considered it so. Q. Did you have any right to go into this pouch, except as he might direct you to do so? A. I considered I had authority to go in there, in case of his death, and get those policies. Q. That was about how long before Mr. Heilbron died? A. That was about two months, I think, as near as I can recollect. Q. Now, did you see that pouch from the time of this conversation until the time of Mr. Heilbron's death? A. Oh, yes. Q. What occasion did you have to see it? A. When I would go into that drawer to get out a pouch that contained warrants and some other papers that I might be looking for, looking in the drawers-There were three drawers there, all about the same size. Q. You would see it on those occasions? A. Yes, sir. Q. Did you ever go into it? A. Never. Q. Mr. Heilbron had access to it at all times? A. Yes, sir. Q. Now, you had other collateral of Mr. Heilbron's for the same debts did you not? A. Yes; we had general collateral. Q. Where was that? A. That was in the...

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3 cases
  • Meholin v. Carlson
    • United States
    • Idaho Supreme Court
    • March 3, 1910
    ... ... Flowers, 116 Ga. 219, 42 ... S.E. 474; Heilbrou v. Guarantee Loan & Trust Co., 13 Wash ... 645, 43 P. 932.) ... The ... ...
  • Whiting v. Rubinstein
    • United States
    • Washington Supreme Court
    • January 20, 1941
    ... ... mortgage loan of $30,000.00. Said advances within the above ... percentage include ... during the existence hereof shall be in trust for the benefit ... of Second Parties to secure them for the ... respondents. In this regard he cites: Heilbron v ... Guarantee Loan & Trust Co., 13 Wash. 645, 43 P. 932; ... ...
  • State v. Kroenert
    • United States
    • Washington Supreme Court
    • February 8, 1896

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