Rivers , Rec'rs v. Stevenson

The opinion the Court was delivered by

Mr. Justice Stabler.

The facts of this case are few and in the main undisputed. On April 11, 1916, J. T. Moore transferred to W. E. Stevenson, as trustee for the purposes named in the trust agreement, stock in the Merchants’ & Farmers’ Bank of Cheraw of the par value of $4,800.00. On October 2, 1926 (after the death of Moore), this bank was absorbed by the Bank of Cheraw, and in place of the $4,800.00 worth of stock Stevenson, as trustee, received on that date stock in the latter bank of the par value of $1,900.00, a certificate for such stock being…