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MATTER OF BELLINGER

197 Misc. 643 (1950)

In the Matter of the Accounting of Leslie B. Young et al., as Executors of William H. Bellinger, Deceased.

Surrogate's Court, New York County.

March 17, 1950.

Attorney(s) appearing for the Case

Townsend L. Cannon for executors, petitioners.

Le Roy Vogel for Florence Brown, respondent.

Holtzmann, Wise, Shepard & Kelly for John B. Bellinger, 2d, respondent.

Edmund B. Bellinger for Katherine M. Bellinger, respondent.

Debevoise, Plimpton & McLean for Association for Aid of Crippled Children, respondent.

George H. Combs, special guardian for Elizabeth Cannon and others, infants, respondents.

Stewart & Shearer for New York Society for Relief of the Ruptured and Crippled, respondent.

COLLINS, S.

In this executors' accounting a construction is sought of the investment provisions under paragraph seventh of the will which authorize the investment "up to thirty five per cent (35%) in common stocks of companies with a financial rating by Moody's and Poor's Financial Services of `A' or better; up to one hundred per cent (100%) in bonds of corporations with a financial rating of the above Services of `A' or better, and up to seventy five...

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