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MATTER OF MARQUAND

203 Misc. 284 (1952)

In the Matter of the Accounting of New York Trust Company et al., as Successor Trustees, and John T. Terry et al., as Executors of Roderick Terry, Jr., Deceased Successor Trustee, under The Will of Henry J. Marquand, Deceased.

Surrogate's Court, New York County.

October 22, 1952.

Attorney(s) appearing for the Case

George M. Clarke and Lewis A. Clarke for successor trustees and executors, petitioners.

Frederick Katz, special guardian for George A. Forsyth and others, infants, respondents.

John J. O'Connor for United States Fidelity and Guaranty Company, respondent.

COLLINS, S.

Upon this intermediate accounting the trustees have asked the court to determine whether or not they may invest in common and preferred stock and other securities to the extent permitted trustees under the laws of New York, in view of testator's language in the will that "I do not restrict my * * * trustees * * * to invest the monies of my estate in what are technically known as `legal' investments...

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