Bowers

The plaintiff appeals from the judgment on the judgment-roll alone. The action was brought to recover from defendant the sum of $3,000 with interest. The basis of plaintiff’s claims is an alleged breach of trust on the part of the defendant, the trustee under a certain indenture of trust dated August 1, 1921, executed by Stephens & Company, a corporation, as security for certain bonds which were to be issued and sold by Stephens & Company. Said bonds were to be secured as to principal and interest by certain collateral securities which had been sold and assigned by Stephens & Company to the defendant as trustee, pursuant to the provisions of said indenture of trust.

It is alleged that certain collateral securities were from time to time delivered by Stephens & Company to the respondent, to secure the payment of the obligations issued by Stephens & Company under said indenture of trust and that said respondent did from time to time certify and deliver to Stephens & Company the written obligations of the said Stephens & Company in accordance with the terms and provisions of said indenture. Appellant was the owner of three of the bonds so issued and certified by the respondent.

It…