Jones v. Home Sav. Bank

• Decision Date: 20 September 1898
• Citation: 76 N.W. 322,118 Mich. 155
• Court: Michigan Supreme Court
• Parties: JONES ET AL. v. HOME SAV. BANK.

76 N.W. 322

118 Mich. 155

JONES ET AL. v. HOME SAV. BANK.

Supreme Court of Michigan

September 20, 1898

Error to circuit court, Wayne county; George I. Hosmer, Judge.

Claim of Henry K. Jones and another against the estate of J. Huff Jones, deceased. From an allowance of the claim the Home Savings Bank, a creditor of the estate, brings error. Affirmed.

George W. Radford, for appellant.

Sidney T. Miller, for appellees.

MONTGOMERY J.

The hearing below was on an appeal from an allowance of a claim in favor of the appellees by commissioner on claims. On the trial the circuit judge directed a verdict in favor of claimants. The Home Savings Bank, a creditor of the estate defended against the claim in the circuit court, and has brought error to review the proceedings on the trial.

As the circuit judge directed a verdict, the question presented is whether the testimony was conclusive to sustain the claim presented, or whether, on the other hand, an inference of nonliability could be drawn from the whole testimony. The facts were not much in dispute. A history of the claim is, in brief, as follows: Catherine K. Jones, the grandmother of claimants, died testate, October 18, 1865, bequeathing to J Huff Jones and Augusta P. Thompson a considerable estate, in trust for these claimants, to possess, control, and manage until the youngest of the two claimants should attain the age of 21 years; and empowered the trustees to lease, sell, or mortgage any portion of the estate, and to invest the trust property in first-class securities, and to divide the property equally when the youngest child should attain the age of 21 years. J. Huff Jones became the active trustee in the management of the estate. Henry K. Jones became of age October 30, 1883, and Matilda C. Jones on August 2, 1886. On August 11, 1886, the trustees deeded to Henry K. and Matilda C. Jones, jointly, all of the real estate held in trust, the deceased, however, retaining control of the personal estate until March 10, 1888, when the personal property for which the trustee accounted was turned over in equal parts, and a receipt in full given by each of the claimants, purporting to discharge the trustee from liability as trustee. J. Huff Jones died testate, but insolvent, December 16, 1892. Shortly after the death of J Huff Jones, Henry K. Jones for the first time made an examination of the books of J. Huff Jones kept in connection with the books of another trust estate in the hands of J Huff Jones, and found substantial inaccuracies in the accounts. This directed his attention to the accounts kept by deceased of the transactions relating to the property of these claimants, and on examination he found inaccuracies in the account. Further investigation by the claimant and experts resulted in the presentation of the present claim. After the presentation of this claim, an expert accountant, Mr. John H. Clegg, was employed to examine the books of deceased, and the result of his examination was a finding that there was on the 10th of March, 1888, a balance due the claimants of $25,258.07 over and above the amount accounted for. A stipulation was entered into between the parties, reading as follows: "It is hereby stipulated and agreed by and between the parties hereto that the examination of the books and...