1 January 1834
High Court – English Reports Citation
Kings Bench and Exchequer Chamber.
Plaintiffs – William Marsh, Josias Henry Stracey and George Edward Graham.
Defendant – Ann Keating
Keating, a customer of M. & Co., Bankers, with whom she kept an account, gave a power of attorney to the partners to receive the dividends upon her stock in the government securities; under this power the dividends were at different times received by Marsh and Fauntleroy, two of the partners. In 1824, under a power of attorney forged by Fauntleroy, £9000, three per cent, reduced annuities, part of the stock of Keating, was sold for £6000 13s. 2d., and transferred in the Bank books to T., who had other stock of the same kind. Half of the commission upon this transfer was paid by the broker to Marsh and Co. The proceeds of the stock thus sold were paid into the house of Marsh, Stracey and Co. (city bankers) to the account of Marsh and Co. ; and entered in a pass-book, which from time to time was sent to Marsh and Co. After the transfer several balances were struck between the city bankers and Marsh and Co. In 1825, Fauntleroy being indicted for other forgeries, was convicted and executed. No indictment was ever preferred against him for the forgery in question. Upon these facts, found by special verdict, it was held that Keating, in an action brought against Marsh and the surviving partners of the firm of Marsh and Co. for the proceeds of the sale of the stock, as money had and received to her use, was entitled to recover. This was a writ of error, brought in the names of William Marsh, Josias Henry Straeey, and George Edward Graham (the Defendants below), on the affirmance by the Court of Exchequer Chamber of a judgment in the Court of King’s Bench, in an action by Ann Keating (the Plaintiff below), against the said William Marsh, Josias Henry Straeey, and George Edward Graham, for money had and received by the said William Marsh, Josias Henry Straeey, and George Edward Graham, to and for the use of the said Ann Keating ; such action having been brought, and a special verdict taken therein by consent, and judgment also having been entered up without argument against the said William Marsh, Josias Henry Stracey, and George Edward Graham, the Defendants in the said action in the said Courts of King’s Bench and Exchequer Chamber, for the purpose of the same being brought by writ of error before the House of Lords. This was directed to be done by a certain order made by the Lord Chancellor in the matter of the said William Marsh, Josias Henry Stracey, Henry Fauntleroy, and George Edward Graham, bankrupts, bearing date the 12th day of May, 1831, upon two several petitions presented to his Lordship by the assignees of the said bankrupts ; by one of which petitions the said assignees prayed (among other things), that the proof of debt made by the said Mrs. Ann Keating, under the commissions against the said bankrupts, might be expunged; and by the other of the said petitions, they prayed to be permitted to file a bill in the High Court of Chancery, to expunge the said proof ; and that, in the mean time, certain other petitions, which they had presented to his Lordship for expunging other like debts, might be ordered to stand over until a final decision should have been given in the said [653] suit so to be instituted. – continues – – –