The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1894-02-09
BANNING ESTATE.

whose estate was probate in this Court. |
Remember giving Mr.. Allen in the latter |
part of lS!)2 power of attorney to act |
for me. game il brcausr Mr.. Allen re- |
presented by letter to me that the estate |
was about to bc closed mp in Court and |
il was necessary tn give him a power of
attorney to conduct my business after he
received the estate from the Court. i
had no other reason or motive for giving
Mr.. Allen the power uf attorney than the
one hay stated. The power Of attor-
ncy was sen; to me 10y Mr.. Allen already
drawn. nude no char" = in it but fol-
lowed his directions strictly in executing
it and returning it. NJ. Allen was my
agent at honolulu during my sons stay
there when he went to Honolulu on the
2Nh Of December. lS02. to receive his
property: no one else. My son had no
authority to control Mr.. AIlcn. rs far as
my half of the estate was concerned, and
gave him no such instruction. re.
member writing Mr.. Allen for list Of in
vcstmrnts June. lS!p. and receiving one
in reply That is the one my son refers
to in his evidence. | read the letter
from Mr.. Allen accompanying this list OF
securities. ] remember he stated that all
these securities he thought were good.
excepting the Seattle bonds and the
Union Iron Works bonds. upon the lat.
ter Of which there might he a slight loss.
and the oppression left upon me by his
letter was that my affairs were in very
good condition. I placed implicit reli-
ancc upon that statement of MIR. Allen.
/ trusted him fuzzy, not only because /
knew that Mr.. Allen was man of in
tcgrity. but because ! also had the Court
back Of me which looked upon as
most protecting power ! supposed the
Court knew everything. have received
letters from Mr.. Allcn in regard To the
Seattle bonds. stating in substance that
there would probably be a adjustment.
10y reason Of which there would eventu.
ally TIC no loss upon those Seattle bonds.
! believed thcs" representations made. by
Mr. Allen. and thought that the Seattle
bonds would eventually prove good in.
vcstment. learned the actual loss upon
the Union Iron Works from my son after
his arrival in Honolulu. and at the same
time | also learned uf the very heavy loss
that would result un the Seattle bonds.
That was the first information that i had
Of the actual state Of affairs in reference
tO those two Investments. | never at.
tempted tn dictate to Mr.. Allen about
the affairs nf the estate. nor interfere
with the exercise of his discretion. either
in acting rs trustee under the will or
afterwards a. my agent under the power
of attorney. He was acting ~ my agent
under power of attorney on the 18th Of
| February. lSH, when the estate was
closed up. and he represented my inter.
est before the Court. My son was not
| instructed Ia represent me in any way
whatever. ! put great reliance In the
| Probate" Court, because ] had always
heard that II was u tower Uf strength tu
widows. AMI this reliance upon the Cour,
made mo feel very easy indeed. ! he.
lirvcd what had heard OF the Probate
Court. and | believed that Mr.. Allen was
rendering accounts to the Court. because
hc said 80 in his letters ! remember the
first account Mr.. Allen rendered Ia the
| Court. | was in Honolulu them and look.
cd over the account with Dulph. and ]
never knew prior To Mr. Aliens discharge
IN February. 1898. that since the first ac.
count he rendered in Isl, he had rcn.
| dcrud no account Whatever Ia the Court
| Of receipts Oi income Of the estate or
| of the Investments he was making. ]
supposed that the Court knew and mp
proved Of every investment and every
security. | suppus,d they knew every.
thing in detail IN relation 10 my affairs
! supposed the Court Ind passed upon
the Investments. Mr. Allen hld render.
cd personally 10 mc only two accounts
| showing investments prior to my son
going Ia Honolulu. | didn't ask for u
list or investments more frequently for
two rriIsuns; on" was that | had been
very much out uf health. so much 10
that for some years | have been hardly
able Ia keep body and soul together; the
other wis that ! felt such supreme trust
in Mr., Allen and in the Probate Court.
| ] SUPPOSED ~ u matter Of course that the
Court knew of the Seattle and Union
Iron Works Investments at the time they
| were inHdr. | didn't have time after
| learning ~ the actual losses on those two
investments prior to Mr.. Aliens discharge
| 10 give u any place one way or the other.
] didn't know that | had the slightest
| right To object to the Court anyhow be-
cause SUPPOSED that any loss that came
to mc Ia that way through Mr.. Allen and
the knowledge Of the Court must be-
something that was inevitable. | sup
posed that the Court had approved Of
these investments and knew everything
that Mr., Allen did and that what the
! Court Ind approved could not object
Ia. When Mr., Allen obtained his dis.
charge certainly believed that all other
securities outside Of the Union Iron
Works nj that time were good, for Mr.
Allen had told me- they We're good, and
had his word for il. ] was never consult
ed by Mr., Allen before making invest.
ments. believed that when Dolph came
of age was entitled to received half
Of the estate under the will, aud Dolph
the other half, and never learned until
lately that under the provisions of the
will my half had to be kept under the
control of the Court. had no know.
ledge or belief prior to the discharge Of
Mr.. Allen that there was any limitation
upon the class Of securities in which
trust moneys might b. invested. | sim.
ply thought that II trustee should make
good safe Investments, especially as | had
80 strongly rnioincd Mr.. Allen that |
wished safely 10 be the first considera,
ton, That had been my first wish when
my husband died and it has always been
30.
CRoss- -EXAMINATIoN.
After received the list Of investments
in the summer Of %, | did not consult
any one, nor did | send my son To con
suit any one. lie told mt that he had