Howard Savings Inst. of Newark v. Peep

The opinion of the court was delivered by

Proctor, J.

This appeal and cross appeal from a judgment of the Chancery Division primarily involve the question of whether that court properly applied the doctrine of cy pres to the terms of a trust established by the will of C. Edward McKinney, Jr. Mr. McKinney, a resident of the City of East Orange, died on October 21, 1957. His will, admitted to probate by the Surrogate of Essex County on November 6, 1957, designates the plaintiff, the Howard Savings Institution, as executor and provides in part as follows:

“Thirtieth: I give and bequeath the sum of…