The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-09-28
Law fntelllgcnoe.
UNIrED STArEs CIRcuIT CpURT, Sept. 28.-Present
justices Nelson and Belts

Law fntenlgcnoe.
justices Nelsou and Bolts
Decinsw.-The United Safesrs Jepse Hcss others
-NELsos, Justce-rbA Ii . bill In rxs eqsIisy side
the court. IL ssts out, IN substance that tie CON
plsinsats have recove. ed Judgment sysinss Jssss
hoyt for $23l 003 90 for moneys his hsads
as Collector Of the port OF New York xsd which h.
Of ssa ss d.
real eStste in Pine street. ~ the city Of New YorN
and In the states Of Maryland snd Illinois aud also
demands Sad stocks specified und describes in the
esid bill snd that on the 9th OF March, 1884, shs said
Jesse conveyed and assigned tho several parcels of
property to Jesee Oakley aud G b Ks.am, to IL held
in trust, to convert the intb money and apply
the proceeds thereof to the payment VI any judgment
which the c0mplansn6 might thereafter recover
against himself and surrties upon bs Official bond
Collector % the port Of New YorM The bill than
charges thst these convwyances and assig MS
tn. trustees srs void a. against the complsnaas,
an inequitabae hndrsnoe and impsdus MT to the cob
lection Of acknowledgement that, on the 18th Novem-
Der 1872 the ssid George Ksssm asis ned all his ints-
rsst in the trust propert to here b. Hoyt With tho
consent of thy sureties subject 70 the trusts
that the property thus held in trust YVES worth
large eums Of money from tbs rents and prodts OF the
reel estate and from the other properties aud assets
In their hands, she amount unknown; that complain
ants have requested the trustees apply tho
OF money thus received to the ut of their
said Judgment and also to Of the
real estate to them the compsinants which request
has been refused that the trustees are mssp.
propristing tho said funds, and devoting them
to purposes which are wholly unauthorized by the
terms Of their said trust That they have pxid out
large of money n sym~nt Of the private debts
Of the said Jesse Hoyt, not charged upon the fund.-
,o .es S
Of the con planxnts against him in which the judg-
nent above relced recovered, which fees not
charged the said trust fund That the judgment
remains unsstis6ed and chst the trustees persons
OF little property The bill prays discovery, and
for the appointment Of receiver and for injuuo-
fhR RuIato NAV rnff Npf h..o
pcat0n Of the trust fund to the Of the udx
ment against the said Jesse Hoyt The separate
answers Of Jesse Hoyt admit that he collector;
the Judgment recovered against him; the .ss,g a.
msnt OF his property to Trustees, set forth in
the bill, but denies any fraud in the transaction.
The joint Of the trustees admits the udgme nt
the assignment of the property to them, In trust,
describing it particularly denies that they have
ized large sums Of neney out of the trust property
but admits they;have received certain sums, which
they have specified In schedule b., and also made
certain payments and disbursements particularly set
forth in the debit side of schedue and that
due A exhibits all the moneys received by Jesse Oak
ley and B. Kiseam tho answer denies ny request
pay over the said moneys or to execute to the com
painants conveyances Of the trust property admits
the application Of several sums Of money realized out
of the trust fund to the payment of counses fees in
defence Of the suit the against the
said Hoyt, they claim they had right to do.
nder stipulation in the case 1t is admitted by the
psities-Frst, That in the year 1882 A II. vanwiok
outst anding mortgage Of $1,000 and ut the same
assigned to him unexpred term of the lease Of
lot No 26 Pine street, said lots having been pur.
and the confederation paid by Jesse HOyt and
by his direction conveyed to the said 8. Hoyt.
tcond, That L. B. Hoyt, BY decd Of the 9th
conveyed and transferred all his title and interest in
the said lots to their trustees Jesse Oakley and
B. Kissam, subject to the trusts as herein before
stated Third That Jesse Hoyt and wife, the 9th Of
March, 1884, by proper instruments to pass,
all his title and interest, to Jesse Oakley and Geo B.
isins in the States Of Msrysnd and nsis psrtcu
arly Get forth and described in the said stipulation
upon the trusts above mentioned; and on the same
day assigned all his interest in certain seizures, &C.,
made under the revenue laws, while he collector,
and also in certain stoeks and chooses In action to
That on the 18th Of November. is42, George b.
Nissan conveyed and assigned all his title and Interest
in the trust estate to L. B. Heyt subject to the
the 9TH April l643 the said trustees paid caused
be paid $1,000 part of the trust fund to d. Ssden
and Iutting Esquires and also, on the 18th Of
valdez 600 out Of the trust fund with the privity
and Of the sHreties aforesaid counsel
said Jesse Hoyt in which the Judgment Shove set
forth in the cause was recovered; and also that
the said trustees paid, or caused to be paid, to
George Browne, for clerk hire, for services rem
deIed in examining the accounts Of the said Jesse,
preparatory to his trial. aforesaid the Of $3.50.
ment of q receiver to take charge Of the trust es-
the proceeds towards the payment Of the pp juds,
trust fund, while in their hands. The principal
question was whether the trustees bound
to account for the three several sums paid to the
counsel Of Mr. Hoyt with the assent Of his trustees
conducting his defence in the suit Of the
against him, and to the clerk employed in the exam.
tory to bis defence, amouptne In the aggregate &C
$3.50. 1t was admitted that this sum realized
from the property assigned in trust The Court held
that the compainants entitled to charge the
sgnees their trustees and to compel in equity the
application Of the property assigned to the satisfaction
of their Judgment the property proceeded from the
ind mi nj dsbto WE he n mt
curity to the defendants against the demand now in
Judgment that the defend did not receive hold
it in their right but the Of the
debt in question: whenever it became fixed upon Them
that . trust by implication of law created in be-
half Of compliments upon these facts when court of
equity will execute either by devotng the estate direct
ly to seizure execution compelling the trustees
to dispose Of the under the supervision of the
court with view the appropriation of the
to the judgment. The Court further held that the
conveyance in this lease by Hoyt to the trustees
voluntary assignment with which the complsinants
neither parties prvies, and intended in
demnity to the suretes his official bond, ana was
recoverable by the assgnor with their least
until notice had been communicated to the complain
ants, and they had affirmed the same that where
person without the privty of his creditors and with
cut consideration, NAL disposition of his property
as between himself and trustees for the payment Of his
debts he 10 regarded merely directing the mode in
which his property shall be applied for his
benefit; and the general creditors, the creditors
named in the schedule persons named for the pur
pose of showing how the trust property shsll be ap
piled; that the right Of the complainant in this case
seize upon the trust estate and appropriate to the
satisfaction Of their Judgment under the trust by i'm
pcation of law in their favor did not attach until the
fling Of the BILL This being the first step taken by
them in armance Of the trust for augh that appears
in the plea dpgs and proofs before and therefore,
any disposition Of the proceeds with the assent of the
asegnor, and the sureties previous to this time,
valid and need not be accounted for by the trustees
in tn settlement Of their accounts.
The Same Us Jesse Hoyf and five others.-This was
action in debt on the official bond given by Jesse
Hoyt and his eureties Collector Of the port Of New
York, dated 30th November, 1888 in the penalty Of
5000 0O0 conditioned for the faithful discharge Of his
duties as collector. The breaches assigned were for
neglectng and refusing to pay certain balances
Of public moneys In his hands, received such COL
lector. The defendant u. Hoyt) pleaded est
factum the other defendants nil dehcf. The cause
Was continued down to the termlof the held in
the city of New York. the third Monday Of October
1S47, when the said Jesse Hoyt put in plea piss
dar,in setting forth that the plaintiffs had here
tofors implicated him and one Phelps since deceased,
in action Of debt on bond made by them, on the
l4th December 1888, in the penalty of 5000 and
after recitng the appont Of said Hoyt Collector
Of the port Of New York. conditioned for the faithful
"