Hunt
Massachusetts Supreme Judicial Court
Appeal, by the trustee under the will of Charles S. Lynch, from a decree of the Probate Court, disallowing two items in his account as such trustee; the first item being a loan of $1900 to the South Boston Iron Company, upon collateral security, and the second item being a loan of $2100 to the Pacific National Bank; and ordering the trustee to reinvest the sum of $4000, being the amount of said trust fund, in some safe and secure manner.
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Appeal, by the trustee under the will of Charles S. Lynch, from a decree of the Probate Court, disallowing two items in his account as such trustee; the first item being a loan of $1900 to the South Boston Iron Company, upon collateral security, and the second item being a loan of $2100 to the Pacific National Bank; and ordering the trustee to reinvest the sum of $4000, being the amount of said trust fund, in some safe and secure manner. The case was referred to a master, who made the following report: It was stated by the trustee, and I find, that, of the principal of said trust fund, the…
1Opinion of the CourtG. Allen, J.
In Harvard College v. Amory, 9 Pick. 446, 461, it was declared: “ All that can be required of a trustee to invest is, that he shall conduct himself faithfully, and exercise a sound discretion. He is to observe how men of prudence, discretion, and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested.” In that case, investments in stocks of an incorporated manufacturing company and of an incorporated insurance company were held…
2Cases cited13 opinions
- Merchants' Bank v. State BankSupreme Court of the United States · 1871
- CRAIG v. the State of MissouriSupreme Court of the United States · 1830
- Briscoe v. President of the Bank of the CommonwealthSupreme Court of the United States · 1837
- Carr v. National Security BankMassachusetts Supreme Judicial Court · 1871
- Poindexter v. Greenhow, Treasurer, Etc. In Error to the HustingsSupreme Court of the United States · 1885
8 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Officer v. OfficerSupreme Court of Iowa · 1903
- Povey v. Colonial Beacon Oil Co.Massachusetts Supreme Judicial Court · 1936
- Elliott v. Capital City State BankSupreme Court of Iowa · 1905
- State v. HillNebraska Supreme Court · 1896
- DickinsonMassachusetts Supreme Judicial Court · 1890
8 more not listed; retrieve them via the Exa API.