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MATTER OF DALY

203 Misc. 851 (1953)

In the Matter of the Accounting of Bankers Trust Company, as Trustee under The Will of Marcus Daly, Deceased.

Surrogate's Court, New York County.

April 3, 1953.

Attorney(s) appearing for the Case

George B. Brooks for trustee, petitioner.

Hoch Reid for Marcus Daly, III, respondent.

Cohen & Bingham for Mary D. Gerard, as executrix of James W. Gerard, deceased, respondent.

James R. Cherry and William J. Butler for Lele H. Daly, respondent.

COLLINS, S.

Decedent's will directs that trust investments "shall be made in such securities as are legal investments for Savings Banks in the State of New York". The will was executed in the year 1927 and was admitted to probate in the year 1930. It appears that the trustees have experienced no difficulty administering the trusts within the mandate of the testator but the surviving trustee now feels that recent...

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