Tufts v. Latshaw
Citation | 72 S.W. 679,172 Mo. 359 |
Parties | TUFTS v. LATSHAW. |
Decision Date | 24 February 1903 |
Court | United States State Supreme Court of Missouri |
Suit by Freeling Tufts, as administrator of the estate of William G. Harvey, deceased, and in charge of the partnership estate of D. W. Williams & Co., against Henry J. Latshaw, as assignee of D. W. Williams & Co. From a judgment for plaintiff, defendant appeals. Affirmed.
Prior to and at the time of the death of W. G. Harvey, which occurred on the 18th day of December, 1889, he and one D. W. Williams were partners, doing business under the firm name and style of D. W. Williams & Co. Harvey died, as before stated, and Williams qualified as surviving partner, and continued the business as before in the firm name. He bought and sold goods and conducted the business as it had been conducted before Harvey's death. In September, 1890, a creditor of the copartnership estate filed in the probate court a motion to require Williams to give a new bond. This motion was heard on the 22d day of September, 1890, and was sustained by the court; and on the same day Williams made an assignment to the defendant, Latshaw, and delivered to him possession of all the property of D. W. Williams & Co., consisting of a stock of merchandise, notes, and accounts, amounting in the aggregate to $71,316.37. The merchandise, of which the defendant took possession, was appraised at $39,157.84. This consisted largely of goods that were on hand at the time of Harvey's death. Williams testified that he had, subsequent to Harvey's death, purchased, with the proceeds of goods sold, other goods, and also that he had borrowed money with which he had purchased goods. However, it was conclusively shown by the inventories made by Williams, when he qualified as surviving partner, and by Latshaw, when the deed of assignment was executed, that practically all of the merchandise on hand at the time Williams made the assignment was the same property that was on hand at the time of Harvey's death. The notes and accounts were what remained uncollected of the notes and accounts due the firm at the time of Harvey's death. Williams, subsequent to Harvey's death, speculated in whisky, buying the same in bond. For the purpose of carrying on this speculation, he borrowed money from various parties, and hypothecated warehouse receipts for whisky to secure the same. For the purpose of protecting these individual creditors he made the assignment, and delivered to defendant the property of D. W. Williams & Co., which was in his possession as such surviving partner. The papers in this case, including the bill of exceptions, as also the papers in the assignment and the papers in the copartnership estate, cannot be found, and there is therefore no means whatever of settling any controverted questions as to the facts. The cause seems to have been referred to Hon. F. P. Sebree, as referee, who, after hearing the evidence, submitted to the court his report, as follows:
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