The New York herald., 1922-02-22
Mrs. Strassburger and Miss
Marjorie Bourne Charge
Many Irregularities.
BROTHER is DEFENDANT
Plaintiffs Tell of Loans of
Stock and Sales Below Reg
ular Market Price.

Attorneys for Mrs. Mary Bourne
Strassburger and Miss Marjorie G..
Bourne filed objections in the Surro-
gates Court at Riverhead, l.. l., be-
fore Surrogate robert S. Pelletreau
yesterday to the accounting made by
the executors of the estate Of their
father. Frederick G. Bourne, president
OF the Singer Sewing Machine Com
pany, who died on March 8, 1919, leav-
ing an estate of $4,000. 900.
The plaintiffs allege improper pay
ments and sales of stock by which the
estate has lost more than s1,000,000
and ask the court to remove the execu-
tors, who are Arthur X Bourne. their
brother, and George p. Vail. Surro-
gate Pelletreau set no date for the
hearing of the case.
The plaintiffs allege that during the
years 1919. 1920 and 1921 the executors
kept in the banks an average cash bal
ance of $S54,25S, which they maintain
was too large and entirely unnecessary.
To keep this balance they allege that
the executors sold securities which paid
5 per cent. interest
Losses of Sale of Bonds.
It is also alleged that the executors sold
$1.400.000 worth of New York city bonds
at price lower than could have been
obtained in Wall Street and that as a
result of this deal the estate lost
$4,000. On another occasion the plain
tiffs allege the executors sold 1000, 900
worth of bonds at a loss of s145.000
and on still another occasion sold $780,
600 worth of State bonds at loss of
$4,000.
The objections allege also that In June.
1920, the executors deposited 100000
of the moneys of the estate in the Manu-
facturers Trust Company Of Manhattan
In order that one of the heirs of the
estate might borrow approximately the
same amount of money. Mrs. Strass-
burger and Miss Bourne declare that
the executors had no legal right to make
such a deposit for such n purpose. and
that they should be charged with any
loss of interest and any loss to the
estate.
The executors also are accused Of hav-
ing sold to Mrs. Florence Bourne Hard,
daughter and heir. real estate at Oak
uaie, IL. L., 1or SlO,OUU Wnen the prop
erty was in reality worth S125.000 The
plaintiffs also allege the summer home
Of their father at Oakdale was leased
TO Miss Marion C. Bourne, another
daughter. on condition that she pay for
all repairs. yet the executors paid ST.
950.45 for this purpose. Plaintiffs de-
mand that this amount be charged to
the executors.
Lonn of Railroad stock.
Mrs. Strassburger and Miss Bourne
claim that from April /. 1919, to Feb
ruary 2S, 1920. Mr.. Vail received from
received s10.0s3.35 to which he was not
entitled by law, and that Clayton Mayo
received s10,0s3.35 to which he was not
entitled. Verplanck & Prince. attorneys
for the executors. are accused of receiv-
ing $500 in connection with the sale
of building. the plaintiffs claiming that
handling the sale was part of their legal
duties and that they should not have
charged for II.
Another allegation made by Mrs.
Strassburger and Miss Bourne is that
the executors lent 1900 shares of Lacka-
wanna Railroad stock to Taylor, Smith
& Hard, brokers. for three months with
out receiving compensation, and later
sold the stock at 1856. Three months
later they declare. the stock was selling
at 260, so that the estate lost 1925. 900
In this transaction.