In Re Riker

This is an appeal from a decree of the Essex county orphans court, overruling exceptions to the intermediate account of the Merchants and Newark Trust Company as trustee under the will of William Riker, Jr. The outcome depends in large part upon the application of the statute which authorizes a trustee in the exercise of good faith and reasonable discretion to continue any investment made by the testator in the stock shares of a corporation. Rev. Stat. 3:16-12.

Mr. Riker died December 3d 1926. His will directed his executor to divide the residuary estate into four parts, and to pay the income…