Atchison v. United Presbyterian Board of Publication
Atchison v. United Presbyterian Board of Publication
Opinion of the Court
Opinion by
This was an action of assumpsit tried before the court below without a jury. On September 17, 1860, Alexander McElroy by deed assigned and delivered his entire estate to a board of three trustees, to be by them used and expended as therein directed. After providing for the comfortable maintenance of the settlor and the payment of certain life annuities, the deed says, “I hereby direct that all that may remain of the amount thus assigned to said board of trustees after the foregoing provisions have been made shall be managed and used by said board as a fund for the publication and sale or gratuitous distribution of Bibles; not more than one-half of which fund, shall be so used during my lifetime, which half shall include the bond against the Steuben-ville and Indiana Railroad Co., the manner of making, disposing of and distributing said Bibles being left to the discretion of said board; provided only, that all copies of the Bible published shall be in fair and legible type and shall have bound together with each copy that metrical version of the psalms of David considered by said board of trustees to be the most true and faithful
The court’s conclusion was sound. The trust deed clearly contemplates that the corpus of the estate shall be- used for the designated purpose, otherwise the grant- or would not have stipulated that not more than one-half of the fund should be so used during his lifetime. The fact that he directs the making and gratuitous distribution of distinctive types of Bibles, which would necessarily involve large expenditures, more than the income, leads to the same conclusion. As the trustees are nowhere limited to the interest or use of the fund they had the right to exhaust it for the purpose of the trust.
The next question is, Did the- agreement create the relation of principal and agent, or that of debtor and creditor, between the trustees and the defendants? Clearly the former if we regard the language of the instrument and the end in view. The trustees agree to appoint the board of publication as their agent to carry out the object contemplated by Alex. McElroy, and the board agrees to accept the agency and to invest the money received from the trustees, in Bible stock, viz:
In our view of the case there is no ambiguity in the deed or agreement, and hence, the fact that, in defendant’s minute books and reports, the McElroy fund is stated as a permanent liability, is not controlling. It is only in case of doubt that the parties’ own construction of the contract can be resorted to: Lenox Coal Company v. Duncan-Spangler Coal Company, 265 Pa. 572, filed herewith, and cases there cited. Where the
As the trustees were not misled to- their prejudice, there is no basis for a claim of estoppel: Schwab v. Edge (No. 1), 214 Pa. 602. The reference to this fund in the proceedings of the General Assembly in 1864 says, inter alia, “the assignees of A. McElroy have employed us to do their business,” which supports the finding of an agency; but in after years, as stated above, the fund is referred to- as a permanent liability. The defendant made the annual six per cent distribution of Bibles for about fifty years, extending far beyond the life of the plates in which the fund was invested, and there is no further legal liability resting upon them.
The judgment is affirmed.
Reference
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- Wills — Trusts and trustees — Contract of trustees — Publication of bills — Use of principal — Construction of contract by party — Estoppel — Agency. 1. Where a grantor of a deed gives a large sum of money to trustees “for the publication and sale or gratuitous distribution of Bibles, not more than one-half -which fund shall be used during my lifetime” with discretionary power in the trustees to act, and the trustees enter into a contract with a publishing board of a church denomination engaged in publishing and selling Bibles by which they appoint such board their agents to carry out the settlor’s wishes and by which the board agrees to invest the sums paid to it by the trustees in stereotype plates of a distinctive type for printing Bibles, and to pay the trustees “at the rate of six per cent per annum in copies of the scriptures at wholesale prices to be distributed by the said board,” the trustees cannot after the expiration of fifty years and after the stereotype plates have been completely used up, recover the principal of the sum paid over to the board under the agreement. 2. In such a case the deed contemplated the use of the coipus of the estate for the purposes of the trust; and the agreement between the trustees and the board created an agency. 3. There was no obligation on the part of the board to pay for the use of the plates after they were gone, and it was immaterial that the board used the plates for printing other Bibles; nor was it material that the parties for a time regarded the fund as a permanent liability. 4. It is only in case of doubt the parties’ own construction of the contract can be resorted to. 5. There is no claim for an estoppel, where a party is not misled to his prejudice.