Page:Federal Reporter, 1st Series, Volume 7.djvu/192

 180 FEDBBAL BEFOBTEB. �Mioou, Adm'r, etc., v. Lamab, Ex'r, etc. �{Circuit Court, 8. D. Neuo York. May 5, 1881.) �1. Ottabdiaii — Possession of Pbopebty ts Anothee State— Past-Due CotrpoNS — Value— Intheest—Anhu AL Rests — Accounting Befoee AND Aftee Tbbmination of Guahdianship. �It ia the duty of a guardian to take into his possession, so far as lie is able, the estate of his ward, wheresoever it may be ; hence, -where the property consisted of shares of stock in a Georgia bank, a trans- fer of which he could have piocured to himself, and it did not appear that the guardian had talien the steps required by the laws of that State to enable a foreign guardian to remove property within the state belonging to his ward, held, on the evidence, — the burden of proof being upon the guardian to show that he could not get possession of the property and invest it as required by the terms of his appoint- aient, — that the defendant was properly charged in the acCounting ■with the value of the property. �Whare ■. the, guardian transf erred to his newly-appointed STlccesppr railroad and city bonds, together with the past-due coupons ftccom- panying them, and it was agreed that the bonds were worth at the trime a certainper'eeiit. df their face value, A«W, that this was prima faell eyideitce that the. dver-due coupons were worth anequaliper- centage of their face value. . ■ �Wliere the wards^ rejected the investments made by the guardian, �and demanded in money the equivalent' of a proper investment, the �rate ofinterest with which he is tio be charged auring the period of �the guardianship is that which, with proper and safe inv^stmentsi he �, might have realized, and therefore less than the current legal rate. �Hence, where the guardianship terminated long before'the legal rate of interest in New York state was changed from 7 to 6 Jper cent.; a guardian accounting in this court should be charged with intcrest during the period of the guardianship at the rate of 6 per cent. ,—1 per cent, less than the current rate, — the account to be taken with annual rests. Eing v. Talbot, 40 K. Y. 96. ' ' �From the termination of the guardianship, however, the guardian's liability was simply to pay over presently a certain sum of money, not to invest or keep it invested. �Therefore, there is no reason for Computing the account with an- nual rests after the termination of the guardianship, nor for charging a less rate than the legal rate of interest in this state, which was 7 per cent, down to January 1, 1880, and 6 per cent, from that date to the present time. �George C. Holt, for complainant. C. C, Beaman, Jr., for defendant. ��� �