State v. Smith

37 A.2d 246, 140 Me. 255, 1944 Me. LEXIS 14
CourtSupreme Judicial Court of Maine
DecidedApril 13, 1944
StatusPublished
Cited by50 cases

This text of 37 A.2d 246 (State v. Smith) is published on Counsel Stack Legal Research, covering Supreme Judicial Court of Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. Smith, 37 A.2d 246, 140 Me. 255, 1944 Me. LEXIS 14 (Me. 1944).

Opinion

Hudson, J.

The respondent, convicted under R. S. 1930, Chap. 131, Sec. 10, comes to this Court on appeal and exceptions. This statute provides in part:'

“Whoever embezzles, or fraudulently converts to his own use, or secretes with intent to embezzle or fraudulently convert to his own use, money, goods or property delivered to him, or any part thereof, which may be the subject of larceny, shall be deemed guilty of larceny, and shall be punished accordingly.”

By its enactment “a peculiar species of larceny” was created “where the felonious taking is wanting.” State v. Stevenson, 91 Me., 107, 111, 39 A., 471,472.

The indictment contained no counts for ordinary larceny and the presiding Justice instructed the jury that no conviction ' for such could be found, not only for its noninclusion, but because there was not sufficient proof of an original felonious taking of the property.

Although there were other counts in the indictment, the respondent was convicted only on Count 1 charging statutory larceny of twenty-five $1,000 Alabama Power Company bonds, hereinafter called Alabama bonds, and on Count 3 charging [259]*259the same of ten $1,000 Pennsylvania Electric Company bonds, hereinafter called Pennsylvania bonds.

While the record is voluminous, there was little conflict as to what was actually done by the respondent, but sharp issue was taken as to whether he acted either fraudulently or with felonious intent.

The defense was twofold: first, that the respondent did only what he had a legal right to do, and second, that if he had no such legal right, he acted in good faith, believing he had such, and possessed no felonious intent.

At the time of her death on December 11,1941, these bonds were owned by Ella M. Foss, an elderly lady who lived in the city of Auburn. She left a testate estate of approximately $1,500,000, a large part of which consisted of securities.

For many years she had been well acquainted with the respondent, whose general business was that of banking. He had assisted her in her financial affairs and particularly with regard to the clipping and collection of her bond coupons. For some time, however, a Mr. Treat, whose business office was in Boston and who had been with E. II. Rollins and Sons, advised her as to investments and collected her coupons, receiving them either from the respondent or Mrs. Foss, and then remitted to her by check.

There was also a Mr. Comins of Dorchester, Massachusetts, a certified public accountant, who kept ledger accounts, anyway, of her bond transactions. Both Mr. Treat and Mr. Comins had complete lists of bonds owned by her at the time of her decease.

Mrs. Foss kept many, if not all, of her securities in her safety deposit box in the First National Bank in Auburn.

The respondent testified that in 1938 he and Mrs. Foss talked about his getting into some business with her financial assistance, but nothing was done about it until months after-wards following his investigation of some oil business in Texas. Then he claims that on May 5,1939 she loaned him the Penn[260]*260sylvania bonds with other securities, and later, on April 22, 1940, the Alabama bonds, also with other securities, with the right to use these bonds as collateral for loans he might make from banks and with the further right to use the money so obtained to establish himself in business.

The respondent also testified he gave receipts to Mrs. Foss on account of these two loans. They appear in evidence in State’s Exhibits 7 and 9. Exhibit 7 reads as follows:

“Auburn, Maine May 5,1939.
“Received from Mrs. Ella M. Foss of Auburn, Maine, as a loan to be returned six months after demand, with interest, to be computed on the collateral value of the securities used the following securities:
“$10,000. Pennsylvania Electric Co., First & Re. Mort. 5% due 1962
10.000. Brooklyn Union Gas Co., General Mort. 5% due 1957
15.000. New England Tel. & Tel. Company First Mort. A 5% due 1952
15.000. Indiana Hydro-Electric Power Co.,
First Mort. 5% due 1958
$50,000. Total
Parker B. Smith”

Exhibit No. 9, dated April 22,1940, is of like tenor and includes the $25,000 Alabama Power Company bonds. It also appeared that there were three other loans of securities claimed to have been evidenced by like receipts.

The total amount of all of these claimed loaned securities at par value was $451,000, of which it seems $58,000 were returned, so that on July 10, 1942, following Mrs. Foss’ death, he owed the estate a balance at par of $393,000. However, we [261]*261are concerned particularly with the Pennsylvania and Alabama bonds, the statutory larceny of which he was convicted.

The respondent together with a Mr. Freeman and Judge Pulsifer were named executors in her will. They qualified January 13, 1942. At the time of her death the Pennsylvania bonds were pledged with the State Street Trust Company of Boston to secure his personal loan. The Alabama bonds, although they had been pledged previously, were then unpledged and were in his deposit box in a bank in New York.

The Alabama bonds, called for payment on March 10,1942 at 101, were sent by him to Coffin & Burr for collection. The call money at his direction was used in the purchase for him of a like amount of Green Mountain bonds, which later he sold to Coffin & Burr, who sent two checks to him in payment therefor. Payment on said checks, however, was stopped because of a news item that appeared in a Boston paper, which raised a question with them as to his actual ownership of the bonds. Eventually these checks were paid following certain additional endorsements by the estate’s executors and thus, according to the bill of exceptions, “The bulk of the proceeds of the sale of the Green Mountain Bonds was subsequently repaid to the Estate.”

The Pennsylvania bonds likewise were called on April 11, 1942 at 105. They were withdrawn from pledge in the State Street Trust Company by the respondent on May 1,1942, and sent in for collection. This call money was paid to him and he admitted that he used it in connection with his privately owned plastic business in Long Island, N. Y.

It also appeared that the respondent’s co-executors, Freeman and Pulsifer, had no knowledge as to the claimed Foss and Smith agreement, or the above-mentioned receipts, or the disposition of the bonds and the use of the call money by him until some six months following their qualification as executors. On July 8, 1942, the co-executors, together with the respondent’s secretary, Miss Parker, met at the First National [262]*262Bank in Auburn (Mr. Smith not then being in town) and opened the Foss deposit box, to which Mr. Freeman had the key. They then were led to believe that some bonds were missing. Two days later, on the tenth, they met again at the bank and this time Mr. Smith was with them. Freeman and Pulsifer had lists of the Foss securities which they had obtained from either Treat or Comins. On that day they were there to clip coupons to be sent in for collection. There then appeared clipped New England Tel.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Martinelli v. Farm-Rite, Inc.
785 A.2d 33 (New Jersey Superior Court App Division, 2001)
State v. Bahre
456 A.2d 860 (Supreme Judicial Court of Maine, 1983)
State v. Maier
423 A.2d 235 (Supreme Judicial Court of Maine, 1980)
State v. Doughty
399 A.2d 1319 (Supreme Judicial Court of Maine, 1979)
State v. Mann
361 A.2d 897 (Supreme Judicial Court of Maine, 1976)
State v. French
357 A.2d 888 (Supreme Judicial Court of Maine, 1976)
Horner v. Flynn
334 A.2d 194 (Supreme Judicial Court of Maine, 1975)
State v. Maxwell
328 A.2d 801 (Supreme Judicial Court of Maine, 1974)
State v. Durgin
311 A.2d 266 (Supreme Judicial Court of Maine, 1973)
State v. McKeough
300 A.2d 755 (Supreme Judicial Court of Maine, 1973)
State v. Collins
297 A.2d 620 (Supreme Judicial Court of Maine, 1972)
State v. Morton
290 A.2d 371 (Supreme Judicial Court of Maine, 1972)
State v. Trott
289 A.2d 414 (Supreme Judicial Court of Maine, 1972)
State v. Peaslee
287 A.2d 588 (Supreme Judicial Court of Maine, 1972)
State v. Girard
283 A.2d 462 (Supreme Judicial Court of Maine, 1971)
State v. Thayer
281 A.2d 315 (Supreme Judicial Court of Maine, 1971)
State v. Goldman
281 A.2d 8 (Supreme Judicial Court of Maine, 1971)
State v. Smith
277 A.2d 481 (Supreme Judicial Court of Maine, 1971)
State v. Simpson
276 A.2d 292 (Supreme Judicial Court of Maine, 1971)
State v. Wyman
270 A.2d 460 (Supreme Judicial Court of Maine, 1970)

Cite This Page — Counsel Stack

Bluebook (online)
37 A.2d 246, 140 Me. 255, 1944 Me. LEXIS 14, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-smith-me-1944.