Evening journal., 1909-10-09

given, or where, as IN tho case OF a
testamontary trustee, no bond is ro-
quired; or in the case where, out OF
misplaced confidence. an executor has
been relieved OF bond. The trust com
pany, although not legally bound TO
do so feels that the beneficiary has 3
moral right to know what is being
done In his or her behalf.
Tn presenting an account to the
court. the corporate trustee, although
not required to do so, states the &C
count and presents It 10 the court, as
by long experience it's trained en-
ployes have learned. in tho most intelli-
gibie shape. not only for the court but
also TO those not accustomed to such
matters.
Individuals, I'm rendering such ac-
counts, usually feel that as the officers
OF the court charge for this service, IL
Is but right that they should do It.
He or she will bring I'm a batch of re-
ceipts or cancelled checks, a bank book
or some memoranda from which the
register or clerk is supposed TO make
up an account The beneficiary Is sup
posed 20 90 10 the Court House and
look up the account and IL the account,
is not entirely clear at "a casual in
spection. the beneficiary must either
mako q copy himself or pay for hay-
ing one made.
"The writer has heard the remark
made by an executor OF "a guardian 70
a county officer as he dumped a pile
lof papers on the desk. Here, YOU know
lmore about this than I do, FIX up this
account for me" Somo trustees keeI
! accounts as exactly as the young wifi
who opened an account at the begin
r ming Of the week with Received fror
, John Fifty Dollars" and at the en-
OF the week on tho other side wrot
J spent Il ALL" which was conclusiv
but not Illuminating; and proposterou
as Il may seem. accounts have beoi
rendered by trustees I'm Just such shape
I'm recoiverships and I'm the settle
ment Of estates, IL seems impossible
for the average individual TO follow
the law in the matter Of the payment
I OF preferred claims, and sympathy will
often relieve him or his bondsmen from
the payment OF money out of his own
pocket 70 replace money improperly
expended. This Is. Of course, at the
expense OF tho heirs or OF preferred
lcreditors and with a proper regard for
or knowledge Of the law would not have
occurred. Executors and receivers have
been known 10 carry for quite while
sometimes FOR a number OF years, a.
the assets of an estate, grain, hay, etc.
that had been sold or consumed, horses
wagons and supplies that are dead o
destroyed, at the same time charging
up all new material as part OF tn
assets OF the account.
"Such a proceeding Is always 20 IN
disadvantage OF the parties at interes
and with the above examples cited an
with those that must be suggested
every reader OF this article, Il cannc
but be admitted that with a regula
l system OF bookkeeping. a trained, eS
pcrienccd and competent forco of en-
| ployes, a proper regard for the pay
llmont OF debts and for keeping the prii
cipai and income of an account sci
: larate so that the beneficiary OF tho n
: come and the beneficiary OF the prii
lcipal shall each have the proper amoui
due 10 him or her and that the prime
pal shall be kept intact that for reg'
lar. intelligent and full accounting, Il
lcorporation possesses every advantal
over the individual IN the care an
management OF an estate IN any Ct
lpacity.