Security Of Trust Propert...
TO THE EDITOR OF TIIE TIMlES. Sir,-The recent painful occurrence, which has created 6o much alarM to persons who are dependent upon trust property in the Bank, imposes a duty upon evcry inlividual in society, to suggest any me- thod by whvich the same may be quaieted; and I therefore make no apology for requesting you to insert in your papet a veTy simnple pro- cess, by whichi such property may be efFectually secured to the parties beneficially entitled to it, vhich, although weli known to members of the psotession of the law, the public at large are perhaps not so much acquainted with. It consists in the issuing of a distring,-s from the Court of Exchequer, lit the suit of the party entitled, either in possessian or reversion, azainsi the trustees and the Governor and Company of the Rank of England, rhicl is taken to the C'hief A c- countant at the Bank, s.:..-oMpanied by a notice in writing to the Governor and Company to restrain the transfer oF the stock specifiled, who vill immediately accompany the applicant, ant place a stop upon the transfer in the books, and will not suffcr any sale or trans. fer to take place, until intimation be given by the Bank solicitors to the party, or his solicitor giving t1ke notice, and until the distringas is duly taken ofFt The notice not enjoining a restraint upon the receipt of the divi dends from time to time, they may be received as before: and it is thus obvioua, that this course may be pursued without anycommut nicatdon being made to the trustees, or even any knowledge obtained by them o. the subject, until the period arrives when the transter or sale isto take place; and the whole mnay be accom-plished at an ex- pense of thrce or four poundq. This measure will be found to be a rery etffectual security, not only against ti-te delinquency of trustees, but against forgery; and it mray also with equal nropriety be adopted by one or more of the trustees for their own security, to prevent the forgery of their names by other persons; but to those whose p roperty remains vested in one trustee. or at most two, between whonm collusion may be ex- pected, it seems toofTer all the advantages ot a suit in Chancery, at an ezpeense the most trivial. r S,mr Sir. vamr niat andisnt .n--inf WXILlAM BAKER SolicitoT. b, INicholas-lane, Lombard-street, Sept. 27. SECIIPUITY OF TRUST PROPRTY XlA THP BAN7.