The Hawaiian gazette., 1902-04-15
lDLFS Will
COME THIRD
Stock Exchange
Suit Passed
Upon.
rrom Saturday. danyl


". Honolulu stock and Bond Exchange
et al. upheld the rules and bylaws VI
the corporation, which gives members
"A first lien upon the seat IN the eN-
change held by any member owing
them money. The suit was brought by
Ables to enjoin the sale OF the seat
held by c. j. Fax, which had been as
signed to the plaintiff as security Tor
the return OF twenty shares OF stock
In the Waialua Agricultural Company,
valued at 1890
The court holds that the seat In the
Stock Exchange Ia property, but that II
was subject to the conditions made by
the exchange.
Following out a California decision.
Judge Gear says: Il find from the evil
dence that demand was made for the
remaining twenty shares OF stock. !
which were not returned within the six
months limit OF the agreement, ana
that no tender was made OF said shares
until after suit was brought. ten
der was then made OF the shares only
without costs of suit. This was not
sufficient Under the agreement, the
plaintiff has an equitable lien on the
seat" Of defendant Falk In the Homo
lulu Stock and Bond Exchange. subject
Ia the rules and regulations of the ex-
change, as security for the return OF
twenty shares OF Waialua Agricultural
Company, so per cent paid up, valued
at SOS per share, or total OF 1880
Under the rule. and regulations of
the exchange. tine claims of members
were 10 be a first lien, and 1t appears
from the evidence herein that there
was due and owing two claims. which
were allowed by the exchange. one OF
$l264. 20, in favor OF Robert Shingle, and
one Of :1260s in favor OF another men,
Der.
The seat Of defendant Falk should
be sold by the president Of the ex-
chcnge as trustee for the aforesaid two
creditors and said Falk and after pay
uent Of said two creditors, the said
president should pay from the balance
OF the proceeds. II any, the said sum OF
$780, to plaintiff herein; any balance
remaining to be applied as set forth in
tSe rules and regulations OF the ex-
change. He will be enjoined from sell
|; except subject to such lien
THE CARTER MATTER.
Judge Gear also rendered "A lengthy
.tten opinion in the case OF j. ID.
rter. trustee, VS.. Sybil Augusta Car
i~ 1t 81. This was bill for advice and
iua ,uCtions from the court. 1t arose
haya j. O. Carter removed as trustee
The defendants claimed that the trus
terminated upon the youngest child be
coming of age.
The court holds that Mrs. Davis ha
an interest in the property, and says
by the terms of the will no mode 4
provided for selling the property afte
the children have all reached majority
They can now act Independently, and
the life tenant desires to sell the prop
erty for SIS 600 and this is agreeable +
all interested, their consent to such
sale is sufficient to authorize the trus
tee to make It, However, IL either Mrs
Davis or any of the children object m
sale can BE- made until after the dealt
of the life tenant The property
known as Sweet Home" Is to be hel,
by j. O. Carter.
The court gives the following instruc
tons:
l. 1t is conceded that the trustee nee
not resign as requested by Sybl A
Garter. and therefore he Is instructe
not to resign.
2. The trustee should not convey tn
property as requested, the price name
being $4,000 unless requested to do s.
by Mrs. Davis, formerly widow o
Charles L. Carter, and inheriting hi
interest.
3. The trust did not terminate on tn,
coming Of age of the youngest child
4. 1t did not become the trustee
duty to convey the property subject t,
tn elife interest of Sybil A. Carter.
Judge Gear also passed upon the pc
tition OF David Dayton. trustee unde
the will OF John McColgan. for instruc
tons. He wished to sell real estate t,
pay the debts OF the estate. to which
Daniel and Hugh McCorriston, residu
airy legatees, objected and offered t,
pay the debts, This settlement is ap
proved and the property will be turned
over to the residuary legatees.
THE GIBSON ESTATE.
Talula l.. Hayselden, devisee for If
under the will OF Walter NJ. Gibson
filed motion yesterday for accounting
with the trustee, David Dayton, Their
being several matters in dispute. Sh
alleges that Dayton has received $l2,
5l2.l9 from Cecil Brown. trustee, out o
which he paid The debts of the estate
leaving a cash balance OF 35S4S.24. Tn
petitioner claims she is entitled Z
three ffths Of this amount as guardian
OF her three children. but Dayton re
fuses to pay The amount, claiming tn
children We're entitled each to one-fiftl
of the entire sl2,jl2.ls, and that tn
orders were cancelled by the paymen
OF these debts. The petitioner claim
that the children are entitled to two
thirds of the balance remaining. O
$350ss4. and asks the court to allow he
that amount.
COURT NOTES.
The petition OF the City Furnitul
Store for the appointment of II. ]. Mel
ry. as administrator of the estate {
Clara Schneider was denied. A like p,
titlon, in the matter OF the estate OF
r. Gibbs was also denied.
Cecil Brown was appointed admins
traitor OF the estate OF VIM. Meyer.
Motion TO strive the amended con
plant from the files has haen i,ed