Salisbury Mills v. Townsend
Massachusetts Supreme Judicial Court
Bill of interpleader, filed February 3, 1871, by a manufacturing corporation chartered by this Commonwealth, against John P. Townsend and Caleb W. Boring, the latter as trustee under the marriage settlement of Mrs. Elizabeth B. Mountford ; alleging that the defendants respectively claimed a dividend payable on eighty certain shares in the capital stock of the corporation ; offering to pay the same to whichever of them was entitled thereto; and praying that they might be…
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Bill of interpleader, filed February 3, 1871, by a manufacturing corporation chartered by this Commonwealth, against John P. Townsend and Caleb W. Boring, the latter as trustee under the marriage settlement of Mrs. Elizabeth B. Mountford ; alleging that the defendants respectively claimed a dividend payable on eighty certain shares in the capital stock of the corporation ; offering to pay the same to whichever of them was entitled thereto; and praying that they might be decreed to interplead as to their title. The bill alleged that George H. Rogers was formerly the holder of two certificates,…
1Opinion of the Court
Chapman,-C. J.
The stock, upon which the dividend in question was declared, was held by George H. Rogers as trustee of Mrs. Mountford under her marriage settlement, and stood upon the plaintiffs’ books in his name as “ George H. Rogers, trustee.’ It was transferred by him, by the method prescribed in the Gen Sts. c. .60, § 13, but in pledge to secure his own debts, and in fraud of his cestui que trust, to various persons, from whom by *121several mesne conveyances it came to the hands o£ the defendant Townsend, who received it in good faith, for a valuable consideration, and without notice of the…
2Cases cited2 opinions
- Shaw v. CosterNew York Court of Chancery · 1840
- Farmers & Mechanics Bank v. WaymanCourt of Appeals of Maryland · 1847
3Cited by22 opinions
- Loring v. Salisbury MillsMassachusetts Supreme Judicial Court · 1878
- Pratt v. Taunton Copper Manufacturing Co.Massachusetts Supreme Judicial Court · 1877
- Geyser-Marion Gold-Min. Co. v. StarkCourt of Appeals for the Eighth Circuit · 1901
- Wheeler v. Northwestern Sleigh Co.U.S. Circuit Court for the District of Eastern Wisconsin · 1889
- St. Romes v. Levee Steam Cotton Press Co.Supreme Court of the United States · 1888
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