Kuolt v. Kaufer
Wisconsin Supreme Court
Appeal from a judgment of tbe circuit court for Milwaukee county: E. C. Eschweiler, Circuit Judge. Action to charge a trustee with money alleged to have been loaned in violation of tbe trust. Tbe trust was created by tbe will of Jacob Mendel, deceased. It was for tbe benefit of bis widow and others.
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Appeal from a judgment of tbe circuit court for Milwaukee county: E. C. Eschweiler, Circuit Judge. Action to charge a trustee with money alleged to have been loaned in violation of tbe trust. Tbe trust was created by tbe will of Jacob Mendel, deceased. It was for tbe benefit of bis widow and others. Tbe fund which came to tbe possession of tbe trustee was about $70,000. Tbe power in respect thereto, so far as relates to this action, was thus stated in tbe will: “I direct my executors and trustees to convert, as early as practicable, all my property into first class interest-bearing…
1Opinion of the CourtMarshall, J.
As we understand the findings of the trial court, it was held that, irrespective of whether the character of the securities in which the trust funds were invested was. *142good, in that payment of principal and interest was amply secured, they were not of the class contemplated by the deceased by the language used in his will, — “I direct my executors and trustees to convert, as early as practicable, all my property and estate into first class interest-bearing real-estate mortgage securities and keep the same so invested.” That is, the idea which the creator of the trust intended to, and did,…
2Cases cited5 opinions
- Holmes v. . GilmanNew York Court of Appeals · 1893
- Russell v. . McCallNew York Court of Appeals · 1894
- Ferris v. . Van VechtenNew York Court of Appeals · 1878
- Rowley v. TowsleyMichigan Supreme Court · 1884
- Mann v. BenedictAppellate Division of the Supreme Court of the State of New York · 1900
3Cited by5 opinions
- Hallin v. HallinCourt of Appeals of Wisconsin · 1999
- Murphy-Bolanz Land & Loan Co. v. McKibbenTexas Commission of Appeals · 1922
- Bowden v. Citizens Loan & Trust Co.Supreme Court of Minnesota · 1935
- Board of Trustees of Lewis Prichard Charity Fund v. Mankin Investment Co.West Virginia Supreme Court · 1937
- Heiting, Kenneth v. United StatesDistrict Court, W.D. Wisconsin · 2020