In re the Estate of Jannella

Pierson B. Hildreth, S.

In this accounting proceeding with which a separately instituted construction proceeding has been consolidated, the trustees request construction of article ‘1 third ’ ’ of the will as to the investment powers of the trustees. Specifically, the question is as to whether the trustees are authorized to invest in securities other than those authorized for fiduciaries under section 21 of the Personal Property Law, commonly referred to as “ legal investments. ’ ’ The provisions of said article “ third ” to be construed are as follows:

6 ‘ third : I order that my Executor and…