Vetterlein v. Barnes
Supreme Court of the United States
APPEAL FEOM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. Bill nsr equity. The case as stated by the court, was as follows: — In and prior to the ^ear 1867, the firm of Yetterlein & Co. —composed of Theodore H. Yetterlein, Bernhard T. Yetter-l¿in, Theodore J.. Yetterlein, and Charles A. Meurer, and •doing business in Philadelphia — assisted one J. Kinsey Taylor by lending him money and acceptances.
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APPEAL FEOM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. Bill nsr equity. The case as stated by the court, was as follows: — In and prior to the ^ear 1867, the firm of Yetterlein & Co. —composed of Theodore H. Yetterlein, Bernhard T. Yetter-l¿in, Theodore J.. Yetterlein, and Charles A. Meurer, and •doing business in Philadelphia — assisted one J. Kinsey Taylor by lending him money and acceptances. In the summer of that year, for the security of the firm, Taylor caused his life . to be insured, the policies taken out by him being assigned to Theodore H.…
1Opinion of the Court
Me. Justice HablaN,-
after stating the case, delivered the opinion of the court.
1. The District Court correctly held, upon the evidence, that át the time of the transfer by Theodore H. Vetterlein of the policies in question for the benefit of his wife and children, neither Meurer nor Theodore J. Vetterlein had any valuable pecuniary interest in the assets of the former firms, and that the firm of Vetterlein & Co., composed of Theodore H. Vet-terlein and Bernhard T: .Vetterlein, held the entire beneficial interest in the policies taken out to secure Taylor’s debts. That interest passed to their…
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