William R. Day,
Magruder v. Drury — Opinion of the Court
“ It is a well-settled rule that a trustee can make no profit out of his trust. The rule in such cases springs from his duty to protect the interests of the estate, and not to permit his personal interest to in any wise conflict with his duty in that respect. ”
William R. Day,
Magruder v. Drury — Opinion of the Court
“ Drury would reinvest the moneys of the estate in trust notes held by Arms & Drury, paying the face value and accrued interest on the notes so purchased.' As a matter of law, the auditor concluded: 'No profit was made by the firm of Arms & Drury on sales of the notes to the trustees. . . . The transactions of Arms & Drury with the trustees were in the regular course of their business, in which they had their own moneys invested. They cost the estate not a penny more than if the transactions had been with some other firm or individual. ”
William R. Day,
Magruder v. Drury — Opinion of the Court
“ Apart from the concession of the jurisdiction here made, we have no doubt that the Massachusetts court, on the presentation of the will, had the right to determine its jurisdiction to receive and probate the same, and upon ordering the property turned over to the trustees appointed in the District of Columbia, to settle the account and fix the compensation of the executors, and order the balance turned over to the trustees. ”
