In re the Estate of Channing

O’Brien, S.

In this intermediate accounting a question of construction has been raised as to the authority of the trustee to invest in securities other than “ legal ” securities. Decedent was an officer of Miami Copper Company of Delaware and at the time of his death owned 7,000 shares of the stock of said company. This stock has been sold and the proceeds invested in “ legal ” securities. The 5th paragraph of decedent’s will is the subject of the query propounded by the trustee. It reads as follows: “ I hereby authorize and empower my said trustee in carrying out any of the trusts created by…