Nichols v. Pospiech

The facts are not in dispute. Plaintiffs herein are, and for a period of many years have been, trustees under the last will and testament of Elliott T. Slocum, deceased. Said will contained the following provisions relative to the powers of the testamentary trustees:

“In reinvesting the money belonging to my estate I direct that my executors and trustees invest only in good municipal bonds.

“I give my executors and trustees the power to buy and sell real estate whenever they think it best and for the interest and good of the estate.

“I hereby nominate and appoint the Union Guardian Trust Company…