Garrett v. First Nat. Bank & Trust Co. Of Vicksburg, Miss.

First Circuit

Garrett v. First Nat. Bank & Trust Co. Of Vicksburg, Miss.

179 F.2d 705

CourtCourt of Appeals for the First Circuit

DecidedMarch 13, 1950

Docket12514_1

StatusPublished

This text of 179 F.2d 705 (Garrett v. First Nat. Bank & Trust Co. Of Vicksburg, Miss.) is published on Counsel Stack Legal Research, covering Court of Appeals for the First Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Garrett v. First Nat. Bank & Trust Co. Of Vicksburg, Miss., 179 F.2d 705 (1st Cir. 1950).

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Opinion

PER CURIAM.

When this case was here before 1 on the appeal of plaintiffs from a summary judgment against them, we reversed and remanded the cause so that an accounting could be taken and a determination had as to whether, and to what extent, the defendants, Bank and Ewing, respectively, were liable to plaintiffs.

The accounting has now been had, and this appeal is by plaintiffs from a judgment, rendered on full findings of fact and of law, 2 that, except as provided for in the order, “all other relief sought by plaintiffs be, and the same is hereby denied”.

This relief as to the bank was that it should be charged with the loss of the value of the Mount Helena Plantation because *706 it failed to use funds in its hands to pay off the mortgage on it.

This relief as to Ewing was that he ought to be required to pay over to plaintiffs the full amount of the earnings without reserving any for expenses and contingencies.

A careful examination of the record leaves us in no doubt of the substantial correctness of the findings and conclusions of the district judge, nor in any that, without prejudice to the right of the plaintiffs to take such proceedings as they may be advised to secure the winding up of Ewing’s trusteeship, the appointment of a successor testamentary trustee, and the turning over by the bank to such trustee of the funds still remaining in its hands, the judgment should be

Affirmed.

1

. 1 Cir., 153 F.2d 289.

2

. Upon a full discussion of all the facts and findings that everything done hy Ewing and the bank was in good faith and in exercise of good judgment, the findings concluded: “While there has been a deviation by the Bank from the strict letter of the trust, yet there has been no damage suffered by any of the beneficiaries of the trust, and the Bank has accounted legally for an expenditure of all the sums' that camo into its hands by virtue of the trust agreements and the Will, and now has in its hands the sum of $50,000 to be paid over to any trustee that may be agreed upon by the beneficiaries of the trust, or to any trustee that may be lawfully appointed by any court of competent jurisdiction, after notice to all parties in interest”.

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PER CURIAM.

When this case was here before 1 on the appeal of plaintiffs from a summary judgment against them, we reversed and remanded the cause so that an accounting could be taken and a determination had as to whether, and to what extent, the defendants, Bank and Ewing, respectively, were liable to plaintiffs.

The accounting has now been had, and this appeal is by plaintiffs from a judgment, rendered on full findings of fact and of law, 2 that, except as provided for in the order, “all other relief sought by plaintiffs be, and the same is hereby denied”.

This relief as to the bank was that it should be charged with the loss of the value of the Mount Helena Plantation because *706 it failed to use funds in its hands to pay off the mortgage on it.

This relief as to Ewing was that he ought to be required to pay over to plaintiffs the full amount of the earnings without reserving any for expenses and contingencies.

A careful examination of the record leaves us in no doubt of the substantial correctness of the findings and conclusions of the district judge, nor in any that, without prejudice to the right of the plaintiffs to take such proceedings as they may be advised to secure the winding up of Ewing’s trusteeship, the appointment of a successor testamentary trustee, and the turning over by the bank to such trustee of the funds still remaining in its hands, the judgment should be

Affirmed.

1

. 1 Cir., 153 F.2d 289.

2

. Upon a full discussion of all the facts and findings that everything done hy Ewing and the bank was in good faith and in exercise of good judgment, the findings concluded: “While there has been a deviation by the Bank from the strict letter of the trust, yet there has been no damage suffered by any of the beneficiaries of the trust, and the Bank has accounted legally for an expenditure of all the sums' that camo into its hands by virtue of the trust agreements and the Will, and now has in its hands the sum of $50,000 to be paid over to any trustee that may be agreed upon by the beneficiaries of the trust, or to any trustee that may be lawfully appointed by any court of competent jurisdiction, after notice to all parties in interest”.

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