William R. Day

“ To sanction this would be to permit Baker to take advantage of his own wrong. It is not for him to say that he can acquire title in fraud of his trust because the bank could not legally acquire it, or the Comptroller approve or the court authorize, its sale. As the facts are found, Baker assumed to act upon the understanding that the bank owned the contract of purchase, and under an order invoked by him, he undertook to sell it for the benefit of the trust, but in reality conveyed it to one who secretly held it for him. ”

“ Both the district court and the circuit court of appeals found that the sale from Baker to Simpson was only colorable, and that Simpson purchased the property for Baker. Our consideration of the evidence must be governed by the well-settled rule in this court that, when two courts have reached the same conclusion on a question of fact, their finding will not be disturbed unless it is clear that their conclusion was erroneous. ”

“ Rep. 778. The concurrent decisions of the courts upon the establishment of a trust is a question of fact, which will be followed unless shown to be clearly erroneous. Brainard v. Buck, 184 U.S. 99, 46 L. ed. 449, 22 Sup. Ct. Rep. 458.
The various defenses urged in the court below and involved in the points argued in this court for the appellants must be considered, in view of this finding of fact as to the nature of the transfer of Baker, as receiver, to Simpson. ”