The morning call., 1890-05-08
JAMES LICK TRUST.
A VoluminOus Report Filed by
the Sole Referee.

George n. Williams, sole referee, has filed
a voluminous report of all the receipts and
disbursements in the matter of the James
Lick Trust, from December 81, 1884, until
September, 1889, ordered in the action be-
tween Richard r. Floyd and others VS..
Horace Davis and others.
The report states that Sl,500,0o0 is on
hand. and earning an average of per cent
per year. This includes S535, coo, which
will be devoted to the California School OF
Mechanical Arts, but does not include the
moneys on deposit in bank, which amount
TO 100000. The sum of S661 80 has been
expended out of the General Fund and
charged against repairs and expenses ac-
count
The referee is satisfied that all the moneys
received and disbursed by the Trustees
have been judiciOusly expended and hon
estly accounted for. The following con-
clusions OF law are also reported:
That the plaintiffs are entitled to judgment,
approving and allowing the receipts and dis
bursements OF money made by them In the
matter of the James Lick Trust from December
81, 1884 10 September 6, 1889, as sci forth in
the account OF the referee
That the objections taken by counsel for de-
PENDANTS, the Society Of California Pioneers and
the California Academy of sciences, to The pay
ment of certain sums out of The general expenses
of said trust should be oyerrulcd, viz: SG61 80
for expenses OF the President OF Board Of
Trustees 10 Cleveland. Ohio, for inspection OF
the mechanism Of the great telescope; SS49 80
as the aggregate OF certain disbursements for
the historical bronze statuaTy, aud $1,000 for
legal services OF plaintiffs attorneys In matters
relating TO construction Of The telescope and OBJ
seIvatory.
That there should be allowed and adjudged TO
Cope & Boyd and Cope, Boyd s. Flheld their fees
in ull for all services rendered in this action in
Guiding the entry OF final judgment. and in the
case OF Richard 5. Floyd ct al. vs.. Ira 7. Rankin
Ell al down 10 Tie entry of the decree In said ac-
tion in The Superior Court, and for all services
rendered as general counsel uown 10 September
6. 1889, oyet and above all payments made, be-
ing Sl7,132 CO.
That there should be allowed and adiudged to
Nathaniel Holland In full for all legal services
as attorney Tor delendant-the Society OF Cali
fornia Pioneers.in this action, including fees IN
The suit OF Floyd ct al. VS.. Rankin ct al, $4,000;
10 s. w. Holiday In full for fees as attorney for
defendant-tle California Academy OF Sciences
in this action, aud also in the suit of Floyd
Ell al W. Rankin Ell al, $4,000; TO John ii. Boalt
in full for services as at orney for defendant
tile California School OF Mechanical Arts, John
o. Earl and otlers-in This action, including the
suit OF Floyd Ell al VS. Rankin Ell al, $3.50; 10
John Il. MckoOn for all legal services as attor-
ney for defendant-the Regents OF the Uni
versity Of CalifoIua-S1250; all of which should
be paid out OF the General Fund OF the James
LICK Trust.
That the relation established under the deed
OF trust between the defendants, john o. Earl
and Ira L. Rankin, and the donors and others in
terested under said deed, is one Of trust.
That John o. Earl and Ira p Rankin. as such
trustees, are entitled TO compensation, although
tile said deed OF trust is silent upon the subject
OF compensation.
That said defendants are entitled 10 the same
compensation provided for an executor by Sec
tlons 16l6 and 1918 OF the Code of Civil Pro
ceduTe.
That such compensation must be paid out of
the property which is held in trust by them
under the Eleventh Trust so-caled, and not out
OF any other fund or property held In trust under
said deed.