Boland v. Mercantile-Commerce Bank & Trust Co.

This is an action in equity to surcharge the defendants, trustees of a trust estate of which plaintiffs are beneficiaries, for loss suffered by the alleged improper retention of certain stock and bonds issued by the St. Louis-San Francisco Railway Company (hereinafter referred to as Frisco) and owned by the estate. The trial court found that the trustees should be surcharged $37,728.25 on account of loss of principal by improper retention of the stock and bonds and $21,209.62 for loss of income. The court taxed the costs, including attorneys' fees for $7500.00, against the trustees,…