In re the Accounting of New York Trust Co.

Collins, S.

Upon this intermediate accounting the trustees have asked the court to determine whether or not they may invest in common and preferred stock and other securities to the extent permitted trustees under the laws of New York, in view of testator’s language in the will that “ I do not restrict my * * * trustees * * * to invest the monies of my estate in what are technically known as ‘ legal ’ investments, but I authorize them to invest in * * * municipal securities * * * or in the bonds of railroad or other corporations secured by first mortgage on their property which have…