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MATTER OF FOSDICK

4 N.Y.2d 646 (1958)

In the Matter of City Bank Farmers Trust Company, as Trustee under a Deed of Trust Made by Wood Fosdick, Deceased, Respondent. Frances L'H. Jones et al., Appellants; American Museum of Natural History, Respondent.

Court of Appeals of the State of New York.

Decided June 25, 1958.

Attorney(s) appearing for the Case

Frederick S. Beebe and George J. Gillespie, III, for appellants.

Leo P. Dorsey for New York State Bankers Association, amicus curiæ, in support of appellants' position.

Daniel G. Tenney, Jr., Webster Sandford and Leonard A. Blue for Chase Manhattan Bank and others, amici curiæ, in support of appellants' position.

C. O. Donahue and Louis S. Auchincloss for American Museum of Natural History, respondent.

Chief Judge CONWAY and Judges DESMOND, DYE and FROESSEL concur with Judge BURKE; Judge FULD concurs in result only; Judge VAN VOORHIS dissents in an opinion.

BURKE, J.

This proceeding was instituted under article 79 of the Civil Practice Act for a construction of a deed of trust dated May 4, 1918. By that deed, which designated the petitioner City Bank Farmers Trust Company trustee, one Fosdick created two trusts for the lives, respectively, of two nieces. A grandniece was named as a secondary life beneficiary under each trust. The principals of the funds were originally...

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