Pierce Butler

“ On his appeal, respondent prayed not for reversal of any part of the decree, but that it be made to declare that, as against petitioner, he was the owner of the fund, and to direct the bank to deliver it to him. The opinion of the court clearly shows that claim to be devoid of merit. ”

“ The bank is not entitled as against petitioner to any allowance on account of expenses or counsel fees incurred to protect its claim against the fund to secure the debt owing by respondent to it. But under settled principles applied in equity courts, its reasonable expenses, including a fair amount to pay that fees of its attorneys incurred in this suit, and which are attributable to the discharge of its duty under the escrow agreement, properly may be made a first charge against the fund as a whole. ”

“ Respondent soon succeeded in selling the half interest to one Binstock, an associate of Bronstine, for $28,080 in cash, and $92,500 in bonds of the Colorado Paper Products Company. Petitioner, as a condition of clearing the title of record, required that all the cash and bonds should be delivered to the bank to be hald in escrow until he and respondent should agree in writing as to the disposition of the same. They promptly divided nearly all of the cash, but came to no agreement for division of the remaining money or the bonds. ”