In Re the Judicial Settlement of the Accounts of Hall
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, made March 6, 1900, affirming a decree of the Surrogate’s Court of the county of Hew York adjudging certain investments made by the trustees herein to have been illegal and unauthorized. . The facts, so far as material, are stated in the opinion. The testator had power to enlarge the field of investment for trustees named in his will.
Read the full summary
Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, made March 6, 1900, affirming a decree of the Surrogate’s Court of the county of Hew York adjudging certain investments made by the trustees herein to have been illegal and unauthorized. . The facts, so far as material, are stated in the opinion. The testator had power to enlarge the field of investment for trustees named in his will. (Denike v. Harris, 84 N. Y. 89; Matter of Stewart, 30 App. Div. 368.) The will itself authorized the trustees to make the investments which were made. (Lawton…
1Opinion of the CourtCullen, J.
The question in the case is as to the liability of the appellants as trustees for an investment of twenty-five •thousand dollars in the debenture stock of “ The Umbrella Company.” The authority given the appellants by the will is : “I hereby give my said executors and trustees hereinbefore named full power to reinvest the proceeds of such sale or other act as aforesaid in any security real or personal which they may deem for the benefit of my estate and calculated to carry out the intention. of this my last will.” The testator himself had been in the umbrella business, and by the sixth clause…
2Cases cited1 opinion
- DickinsonMassachusetts Supreme Judicial Court · 1890
3Cited by53 opinions
- Villard v. . VillardNew York Court of Appeals · 1916
- Pabst v. GoodrichWisconsin Supreme Court · 1907
- Colt v. United StatesCourt of Appeals for the Eighth Circuit · 1911
- In Re LeuppNew Jersey Court of Chancery · 1931
- In re the Judicial Settlement of the Final Account of Proceedings of Westchester Title & Trust Co.Appellate Division of the Supreme Court of the State of New York · 1935
48 more not listed; retrieve them via the Exa API.