It has been announced that, in accordance with the decree of Judge Lathrop in the Supreme Court setting a long protracted law suit, Harvard will receive about $70,000. Briefly, the circumstances of the case were as follows:
Several years ago Charles L. Hancock foreclosed several mortgages on valuable property in Chicago. The validity of this act was questioned by Francis V. Balch, trustee under the will of John Hancock, the father of Charles L. Hancock, and two suits in equity were brought in Chicago. While these suits were pending, however, a compromise was reached. The case of the compromise was first referred to Judge William C. Endicott, as special master.
At this juncture, however, Charles L. Hancock died, and it was discovered that by the provisions of his will Harvard College became an interested party as residuary legatee. As Judge Endicott is a member of the Corporation he declined to serve, and the case was referred to Judge E. H. Bennett in his place. Judge Bennett's report was in approval of the settlement according to the compromise.
The case now came before Judge
Lathrop on the report of Judge Bennett, by the terms of which two thirds of the property go to Mr. Balch as trustee, and the other third to the heirs of Charles L. Hancock. Judge Lathrop's report upheld the agreement as reported by Judge Bennett, in accordance with which the heirs of Charles L. Hancock get $100,000 of which $70,000 goes to Harvard College.
It is interesting to note that this Charles L. Hancock is a descendent of famous old Judge Hancock.