Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-09-13
SUIT IN PoWESHlEK RAISES THE
POINT REGARDING INcREAs-
ED VALUE IN BANK STOCK.
HEIRS CLAIM IT IS A
PART OF LIFE INCOME
Grinnell College and Missionary So
ciety as Beneficiaries Resist Claims
of Heir Of Another Beneficiary
in Value Since Trust Funds Wee
Invested.
Special 10 Tine Republican.

special
Montezuma, Sept. 13-District court
convened on Monday. While the dock
ct is long one many cases have been
disposed OF without trial. The first
jury assignment was made on Tuesday
at which time cases were set down
for trial which will likely take up the
first two weeks OF the time of the
jury. Some criminal cases will be up
for trial also and these will run over
into the third week.
The first case set for trial has been
once tried and appealed and is no"
back for a second hearing. W. x VOL
ford and companion were making
late trip through Grinnell a couple OF
years ago. On account Of paving work
the traffic was diverted from the usual
streets and in traversing a street Not
much used there was an accident 10
the car. and suit has been prosecuted
against the city for damages.
An unusual situation developed dur
ing a hearing on Wednesday. L. \.
Sherman died some twenty or more
years ago. He left will by which he
provided that a fund of $4,000 should
be set apart in the hands OF trustee
The income from this fund was 10 go
to certain persons during their lives
and the remainder interest was TO go
10 the Congregational Missionary So
ciety and 10 Iowa College equally. one
OF the persons receiving the annual
income has died and the representa-
tives have raised the question now be-
fore the court Il appears that the
trustee invested a part OF the fund IN
bank stock. The stock cost him $40
per share and is now worth wa.
There are % shares involved. The stock
paid dividends right along. comnenc-
ing with semi-annual dividends OF II
per cent and in late years I per cent
semi-annually. The bank has accum-
uIated q surplus and some undivided
profits. These have not been distrio-
uted among the stockholders. Now the
representatives Of the deceased heir
are in court claiming that the amount
Of the increased value Of this stock
should be decreed 20 be income De-
longing TO the estate Of the deceased
heir and that the trustee should pay
il over 10 the estate This claim is re-
sisted by the missionary society and
the COllSSE Oh liIt SAObt4N N4-~NN
increase in value could not properly
be considered income for 1t was never
maid nv the bank as dividends and II
was not such fund as could have oeen
demanded by the life holder and col
lected from the bank. The point mas
not been raised in this state often'
The court took the case under ad-
visement and will hand down de-
cision during the term.
Clifford Case Dismissed.
The divorce action brought by
Pbehe Estelle Clifford against Frank
n clifford. both formerly of MARSHALL
town, was dismissed by the attorney
for plaintiff with prejudice There
was nothing disclosed as to the terms
of settlement between the parties oul
deed was recently filed which was CIV
en- by the defendant TO the plaintiH.
The consideration named was 81, ana
love and affection.
Tn the estate Of william Mousley'
the administrator was allowed s1'VVV
on a claim filed by him against the
estate. This estate has proved to De
much larger than it was supposed al
the time of the death of Mr. Mousley.
There are to be two trials to jury
m determine the mental condition OF
persons for whom guardians have been
neri,ioned. Carries T. Robinson ana
others have asked that a guardian be
amounted for Elizabeth B. Robinson:
This application is resisted and 1t Will
be for the jury to determine. This is
the situation also in the case brought
bv Samuel Schmidt against Eliza
Schmidt.