Pasadena Trust & Savings Bank v. Bryson

JAMES, J.

The appeal in this case is taken from a judgment entered in favor of the defendant.

Frank E. Clark and Margaret T. Clark were husband and wife. The husband died in June, 1911, and the wife three years later. Upon the death of the wife certain securities were found in a safe-deposit box containing effects of the latter. The securities were contained in envelopes which bore indorsements thereon signed by the husband, who, as has been noted, had died three years previous. No administration had been had of the husband’s estate prior to the 29th of September, 1915, when petition for letters of administration was filed, and thereafter the plaintiff here was appointed administrator. Besides his wife, Frank E. Clark left only one heir, to wit, a sister. There are no surviving heirs of Margaret T. Clark. In this action it was declared in the complaint that the bonds found to have been in the possession of Margaret T. Clark at her death were property of the estate of Frank E. Clark, and judgment was sought determining them so to be. These bonds were in four envelopes. The envelopes bore indorsements over the admitted signature of Frank E. Clark and the indorsements concluded in the respective instances with the following words: (1) “The above bonds are and long have been the exclusive property of my wife.” (2) “These bonds are and always have been the property of my wife, Margaret T. Clark. They represent unpaid coupons attached to the company’s 1st mtge formerly owned by said

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Margaret T. Clark.” (3) “The above bonds are and long have been the sole and exclusive property of my wife, Margaret T. Clark.” (4) “These bonds are and always have been the exclusive property of my wife, Margaret T. Clark. They were issued to replace a similar number of the company’s original 6% bonds that I gave said Margaret T. Clark about eight years ago.”

The finding made by the trial judge upon the important issue presented by the pleadings was that the securities belonged to Margaret T. Clark at the time of her death, and that she, “long prior to the death of said Prank E. Clark, became the owner, in possession of, and entitled to the possession of said property.” “That at the time of her death said property was the separate property of said Margaret T. Clark.” A further finding, which seems to be justified by an admission in the pleadings, was made as follows: “That prior to the time the same became the property of said Margaret T. Clark, the same had been the separate property of Prank E. Clark, and the same had been delivered to him as a part of his share of the estate of his mother, Emily D. Clark.” There was no evidence submitted to the court expressly showing when, if at all, the securities were delivered by the husband to the wife; there was no testimony showing that the securities were in the possession of the husband at the "time of his death, so that the case must-be determined upon the evidence of the indorsements appearing upon the envelopes and the fact that the securities were found in a deposit box belonging to Margaret T. Clark after the latter’s death. There is the added fact to be taken notice of that three years had elapsed after the death of the husband before the decease of the wife, and that these securities had never been accounted for as a part of the estate of the husband and no administration of the latter’s estate had been made. The case, as presented by the briefs, assumes that if Margaret T. Clark obtained title to these securities, she did so by way of gift from her husband. It is not contended that the indorsements made by the husband affirming title to be in his wife are sufficient of themselves to determine the question of ownership.