In re the Accounting of Chemical Bank & Trust Co.

This is a motion by trustees made pursuant to article 79 of the Civil Practice Act for a judicial settlement of their account. The only question presented is one raised by the guardian ad litem appointed by the court to protect the interests of the infant beneficiaries. He objects to the trustees’ investment in and holding as part of the trust fund, certain municipal and United States Treasury bonds in bearer form" when registered bonds of the same issue are available.

It has been stated by leading authorities on trust law that bonds payable to bearer are a proper investment, and need not be…