The Mechanics Bank of Alexandria, Appellants v. Louisa and Anna Maria Seton

The appellees, who were the complainants in the Court below, filed their bill against the Mechanics Bank of Alexandria, setting out their right to three thousand dollars of the capital stock of that bank, which was standing in the name of Adam Lynn; but which was avowedly purchased and held by him, as trustee for John Wise, the grandfather of the complainants, and from whom they derived their right and title to the stock in question. That they were desirous of having their stock transferred to their guardian, which the trustee, Adam Lynn, was willing to do, and offered to transfer the same; but that on application to the bank, permission was refused, on the allegation that Adam Lynn was a debtor to the bank, and that it held a lien for that debt, on all the stock of the bank, which stood in his name. The bill alleges, that when the stock was purchased by Adam Lynn, for John Wise, and transferred to him upon the books of the bank, it was well known to the president and Directors, that the purchase was made by, and transferred to Lynn, in his character of trustee for John Wise, although the trust was not expressed in the transfer. The bill prays, that the bank may be compelled to open its transfer book, and permit Adam Lynn to transfer the three thousand dollars, in stock, to the said Louisa and Anna Maria Seton, or to their guardian, Nathaniel S. Wise.