Majority
p. 919Martha A. Guion, Resp't, v. David T. Williams et al., Ex’rs, App’lts. (Supreme Court, General Term, Second Department, Filed December 2, 1889.)
Headnote
Trusts.Testator had had charge of his wife’s financial affairs. On his death certain certificates of stock were found in a box enclosed in an envelope endorsed with a direction to deliver them to her. One of the certificates stood in the name of deceased as trustee and another in his name individually. It was shown that they were originally issued to him astrus.ee for his wife, but as the rules of the companies forbade this they were altered so as to read as above stated. It also appeared that the wife’s moneys were used in purchasing t -is stock and the interest drawn thereon was'deposited to her account. Held, sufficient to show that the slack was held in trust for her and that she was entitled to possession thereof.
Appeal from judgment directing defendants to transfer to plaintiff two 50 share certificates of stock, and from order granting plaintiff an extra allowance of $600.
The court below delivered the following opinion:
Barnard, J.—The evidence fully supports the plaintiff’s title to the stock in question.
The plaintiff’s deceased husband, B. L. Guión, managed her estate.
There were found in a box after his decease in the' Stuyvesant Safe Deposit Company four certificates of stock in an envelope in the handwriting of deceased, marked “ M. A. Guión.”
The envelope was endorsed as follows: Fifty shares American Express; fifty shares Wells-Fargo; fifty shares Adams; fifty shares Rock Island, standing in my name, which my executors will transfer to M. A. Guión. The bank books belong to those in whose name they stand. October 8, 1885.
B. L. Guión.
This endorsement is dated subsequently to the will.
The statement in reference to the bank books refers to sundry saving bank books which were found in his box.
The stock was represented by four certificates. One, the Adams Express Co., was issued to B. L. Guión in trust for Martha A. Guión. One, the Wells Fargo Express Co., was issued in the same way. One, American' Express Co. certificate, was issued to Benjamin L. Guión, trustee, of Hew York.
1 The Chipago and Rock Island stock stood in the name of B. L. Guión individually.
p. 920
The executors assigned all the certificates but the American Express and the Bock Island stock.
As to the American Express stock the plaintiff has the written declaration of deceased, that this stock was held as trustee for some one. It was with other stocks wherein the plaintiff was. named as beneficiary, and the deceased gave directions to his executors to transfer the same to plaintiff.
The American Express stock was bought in large part with the plaintiff’s money on deposit with Williams & Guión.
The original certificate had on it a power with the name of deceased in the wrong place, but with.the full declaration that it was “foi Martha A. Guión.”
This was subsequently changed to B. L. Guión, trustee. The usage of the express company is proven to be that it will not issue a certificate to a trustee for a specific person without the deed of trust, but that it will issue one to a person as trustee with no named beneficiary.
The interest drawn on this stock was deposited to plaintiff’s account
Some are actually proven to have been so deposited by deceased.
Some are fairly inferable from the tank look accounts.
As to American express stock there is supporting evidence to supply the actual name of the beneficiary with the certificate standing in the name of deceased as trustee for some one.
The Chicago & Bock Island certificate belongs to plaintiff. It was bought in blank and filled in by the clerk of John J. Cisco & Son as sold to B. L. Guión, in trust for M. A. Guión. This was the order for the purchase made by deceased.
This company also had a rule not to issue certificates at all to a trustee, unless the declaration of trust was produced; when the certificate bought by deceased for his wife reached the railroad office, a certificate was refused; Cisco’s clerk thereupon erased the words, “ as trustee for M. A. Guión,” following the name of B. L. Guión. • Nó authority is proven for this, either by deceased or by plaintiff.
The title of the plaintiff was complete when the certificate was-purchased, and the plaintiff’s title was not divested by the act of Cisco’s clerk, in accordance with an arbitrary rule of the American Company.
. The plaintiff is, therefore, entitled to recover both certificates.
Charles N. Judson, for resp’t; Woodward & Buckley, for applts.
This is an action in equity to procure a judgment declaring certain stock to be the property of the plaintiff.
The testimony was taken before a referee, appointed for that pupose, with power to take the same' and report it to the court with his opinion. Besides taking the testimony and reporting' the same to the court with. his opinion, the referee undertook., to -make findings of fact and law and to decide the case against the plaintiff. That was beyond the scope of his authority, and hia findings have neither place nor influence in the case.
p. 921
When the case was presented to the judge at specia. terna he found no difficulty in deciding the case in favor of the plaintiff and did so by appropriate findings of fact and conclusions of law.
Judgment has been entered upon such findings, and the defendants appeal therefrom and from the order granting an additional allowance to the plaintiff.
There is no merit in either appeal. The testimony was abundant to establish the claim of the plaintiff, and left no excuse for the defense of the action.
As we fully concur in the opinion rendered by the judge at the special term, it is neither profitable nor necessary to make a lengthy examination or statement of the case here.
The judgment and order appealed from should be affirmed, with costs.
Pratt, J., concurs; Barnard, P. J., not sitting.