MATTER OF PEARSON


207 Misc. 989 (1955)

In the Matter of the Construction of The Will of E. Pennington Pearson, Deceased.

Surrogate's Court, New York County.

March 23, 1955.


Attorney(s) appearing for the Case

Mitchell, Capron, Marsh, Angulo & Cooney for City Bank Farmers Trust Company, as trustee under the will of E. Pennington Pearson, deceased.

Milton Sargoy and James R. Cherry, in person, for James R. Cherry, as general guardian of the property of Eileen V. G. Pearson and another, infants, respondents.

Edward J. Gould, special guardian for Henry R. Schwab and others, infants, respondents.


COLLINS, S.

This proceeding has been instituted to determine the extent of the powers conferred upon the corporate trustee by the testator. The special guardian for infants interested in the estate argues that the will confines the fiduciary to investments within a specified class of securities and that as a consequence there may be no recourse to the "prudent man" enlargement of section 21 of the Personal Property...

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