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  5. 35 N.Y.2d 512 (1974)
 

MATTER OF BANK OF NEW YORK

35 N.Y.2d 512 (1974)

In the Matter of the Accounting of the Bank of New York, as Trustee of Discretionary Common Trust Fund "E", Respondent. M. James Spitzer, as Guardian ad Litem and as Attorney for Persons Interested in Principal of Discretionary Common Trust Fund "E", Appellant; Wirth H. Koenig, as Guardian ad Litem and as Attorney for Persons Interested in Income of Discretionary Common Trust Fund "E", Respondent.

Court of Appeals of the State of New York.

Decided December 20, 1974.

Attorney(s) appearing for the Case

M. James Spitzer, pro se, and Ronald J. Offenkrantz for M. James Spitzer, guardian ad litem for persons interested in principal of Discretionary Common Trust Fund "E", appellant.

Thomas B. Fenlon and Carlton R. Asher, Jr. for respondent.

Wirth H. Koenig, pro se, guardian ad litem for persons interested in income of Discretionary Common Trust Fund "E", respondent.

Chief Judge BREITEL and Judges JASEN, GABRIELLI, WACHTLER and RABIN concur; Judge STEVENS taking no part.

JONES, J.

We hold that on the record in this case objections filed by the guardian ad litem to certain investment decisions of a bank acting as trustee of its own common trust fund were properly dismissed on a motion for summary judgment.

In 1952 Empire Trust Company established a discretionary common trust fund pursuant to section 100-c of the Banking Law. In conformity with the provisions of that section...

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