Hovey

Appeals from the judgment and from the order denying a new trial.

Plaintiff pleaded that he was the owner of four hundred and sixty-five shares of the capital stock of the Cable Railway Company; that he intrusted this stock to James McCord, who held it as his trustee until his *623 death, after which it passed into the hands of defendant as the personal representative of McCord. He asked a judgment declaring the trust, and decreeing an accounting of the dividends received upon the stock. No demurrer was interposed. Defendant for answer made denial; set up by way of estoppel judgments in certain actions involving and affecting the title to the stock, and pleaded the statute of limitations and stale claim.

The principal defense and chief contention of appellant is the loches of respondent.

The following facts were established upon the trial without substantial controversy: Hovey, while living in San Francisco, was the inventor and owner of certain valuable patent rights. These rights were transferred to the Hovey Patent Right Company; and for them Hovey was to receive one-seventh of the capital stock of that corporation. The Cable Railway Company succeeded to the interests of the…