Baird v. Peoples Bank & Trust Co.

FAKE, District Judge.

It appears from the record before the Court that Robert Rees Sinclair departed this life leaving a.last will and testament which' was duly probated and under the terms thereof, the defendants became .trustees of the residuary estate aggregating upwards of $874,000. They were authorized “to hold, manage and invest and re-invest the same in lawful securities and to pay over the income and principal thereof” as in said will directed.

The plaintiffs allege that the defendants made unauthorized, unlawful and improper investments of the trust funds resulting in large losses and…