McAuslan v. Union Trust Company

This is a bill in equity brought by beneficiaries under a trust created by the will of John McAuslan, late of Providence, deceased, to set aside a mortgage or pledge of 1,250 shares of the capital stock of the Boston Store Land Company, made by the executors, and the trustees named in said trust, to the respondent, the Manufacturers Trust Company. This pledge was later transferred to the respondent, the Union Trust Company. The pledge was given to secure the repayment of a loan of $100,000 made by the Manufacturers Trust Company to the executors and trustees. . The complainants seek to…