EXECUTORS' TROUBLES.

Tuapeka Times, Volume V, Issue 250, 14 November 1872, Page 8

EXECUTORS' TROUBLES.

(From the Melbourne "Affe," October 15 J

, Amiable people^ sometimes become the executors of their dying friends' wills, and let themselves into a great deal of trouble thereby. Executors are not allowed by law to take anything out of the estate for their services, but they often have to pay pretty heavily for their mistakes over trust investments. The case of Fennessy v. Kelleher and Barry, called on in the Equity Court, yesterday, is one in point. Some time ago Judge Molesworth made an order requiring Kelleher and Barry, the executors for Mr. Fennessy, who died in 1855, to pay into court a sum of £1030, which had been lost over the Hare and Hounds Hotel, St. Kilda, part of the property. The hotel was improved to the extent of building a substantial biick wall about a foot over the side walk, and it had to be pulled down again. The executors spent £1030 out of the moneys of Mr. Fennessy's son over this property, which belonged to the daughter. Young Fennessy, coming of age. sued them for for the £1030, and obtained judgment, as already abated ; bat, inasmuch as he was in the mother country, where the publicans' sons of the olden time were sent to receive that education which makes them such distinguished ornaments of Victorian society, the unhappy executors were allowed some months of grace, in order that they might ask mercy of him. A pitiful letter was sent to young Mr. Fennes3y, but he proved flinty-hearted, and would have the due and forfeit of his bond. For some reason the time for the execution of the decree was allowed to go by ; and yesterday Messrs. Stephen and Webb applied to Judge Molesworth, on behalf of plaintiff, to have it made over again. Mr. Kelleher, who has aged into a grey-haired old gentleman since the time» when, in the impulsive kindness of middle life, he consented to look after the estate of his friend Fennessy, addressed the judge from the body of court. He said he went to a lawyer, but the first thing the lawyer wanted was £10 down, to pay a barrister. He had no £10, and consequently appeared in court himself. Mr. Barry, the other executor, afterwards turned up likewise ; and the pair stood up together against the jury-box looking ratherlikeacoupleofprisonersthantnen who had undertaken a benevolent office for a friend. Jud»e Molesworth was at the pains to state that they had done nothing wrong, but were only foolish, and they would have to pay for their folly. All he could do was to make the order in the terms applied for, and he would allow them three months to pay in. If they were unable to pay in the time, he said they would have to resort to the Insolvent Court — and his Honor sniffed. Such is the end of the years of anxiety those two unfortunate men have spent over the managment of their friend's estate, since 1855. Kelleher is said to have no money, but Barry is supposed to be a good mark. Part of the property inherited by young Fennessy is the notorious Colosseum, in Bourke-street, which affords thelivingscionoftheJFennessys a rental of £450 a year. One strange feature about the case is that an allotment of land belonging to the estate has positively been lost. Old Fennessy, in bis will, mentioned some land at Brighton, but all the talent brought to bear was unable to identify it, and probably it is now occupied by some cockatoo squatter, who has secured his possession for ever.