Davis v. Pennsylvania Co., Etc.

Opinion by

Mr. Justice Stern,

This is an attempt by the beneficiaries of a trust to impose upon a bank, which was the depository of the trust funds, liability for embezzlements committed by the trustee. The court below — in our view properly— was of the opinion that the circumstances did not make defendant responsible, and accordingly entered judgment n. o. v. in its favor.

Caroline B. Davis, who died in 1903, by her will bequeathed her residuary estate, consisting of stocks and bonds, to her sons Thomas C. Davis and Nathan H. Davis, in trust to pay from the income the sum of $1,000 per annum…