Smith v. Monmouth Title, C., Co.

From the final decree in this cause, appointing a substituted trustee in the place of the trustees who resigned or had become incapacitated to act, appeal was taken by the two bondholders' committees, representing perhaps one-third in amount of the outstanding bonds.

The sole ground of this appeal was the contention that the appellants had the right to determine who should be the substituted trustee, and that they had chosen and insisted upon a certain trust company (which was closed by the banking commissioner shortly thereafter) instead of the trustee actually appointed by the court (who had…