Schroeder v. American National Red Cross

The appellant trustees contend: (1) That the court was without jurisdiction to declare a trust for want of jurisdiction of the subject-matter, and that the judgment purporting to establish the trust is therefore void; (2) that their trust is therefore extra-legal and they were not bound to make their investments according to the statute and are not required to account for cash but only for the securities held; (3) they also contend that they are not required to account to the American. Legion Posts at all, although they do not suggest to whom, if anybody, they are accountable. They further…