Buckle v. Marshall

I cannot concur in the opinion of the court, insofar as it holds that Frank Marshall should not be charged with the loss sustained by the estate of his decedent, in his unwarranted investment in the Grace Securities Bonds.

Here we have a fiduciary admittedly purchasing bonds in his own name, and not until there was default in the payment of the bonds, do we find that he reported them as assets of the estate. The record clearly shows that the first Grace Securities Bonds purchased by Marshall were coupon bonds purchased in the year 1931, and that he did not make any report to the commissioner…