Case ID: va_21/html/0933-01.html
Source: Caselaw Access Project
Author: {"author": "ROANE}, Judge.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Overseers of the Poor, of Richmond County v. Tayloe’s Adm’r.
    
    June, 1821.
    Charitable Donations — Trustees—Recovery.—A charity lor the benelit of the poor of a parish given in trust to the minister and vestry: when there ceased to be either, was vested in the overseers of the poor for the parish, by the act of 1805. () and they may recover the charity in equity.
    Same-Mode of Investment. — The testator leaving the mode of investing the fund to the discretion of the trustees, a court of equity should not interfere by directing the manner o f investment.
    John Tayloe, by a will recorded in July 1779, gave a charity to the poor of Richmond county in these words, <!I gave to the minister and vestry of the parish of Ivunen-burg, and their successors the ministry and vestry of the said parish, 5001. sterling; in trust, for the use of the poorest inhabitants of the said parish, being honest people; to be let to interest on good land security, or otherwise, so laid out, that the interest or better profits thereof, be distributed with equity and justice by the minister and vestry aforesaid, among the poor aforesaid, every year, at the lower church of the said parish on restoration day, &c., this legacy to continue for ever.” The trustees continued to distribute the charity until the year 1799, after which there was neither minister nor vestry in the parish. The bill recited the several acts of Assembly on the subject of the Protestant *E}piscopal church, and relied particularly on that of 1805, by which all donations for charitable purposes made to vestries in parishes in which there had ceased to be vestries, should devolve on the overseers of the poor of the said parishes; and should be managed by them for the objects of the original trust.
    The Chancellor on bill and answers shewing this case, decreed the administrator de bonis non of Tayloe, to pay 5001. sterling at an exchange of 36 per cent, advance, in current money, with interest at 5 per cent, from the 29th May 1799, to the plaintiffs: and directed the overseers, to vest it in stock of the bank of the U. States, or in one of the banks of Virginia, as they thought best; and to apply the annual proceeds, to the relief of the poorest inhabitants of the parish,being honest people.
    
    
      
      See monographic note on “Charities” appended to Kelly v. Love. 20 Gratt. 124.
    
    
      
      (a) 2 Rev. 268.
    
    
      
      This like many other cases reported, was argued, before a reporter was appointed, and no notes of the arguments were taken. — Edition 1821.
    
   ROANE}, Judge.

The decree is erroneous in directing the appellees to vest the sum in bank stock, instead of leaving them at liberty to let it out on good landed security, or otherwise at their discretion, pursuant to the will of the testator. It is therefore reversed, and remanded to be reformed pursuant to these principles; with costs to the appellees, as the party substantially prevailing'- '_