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MATTER OF FLANAGAN

199 Misc. 842 (1951)

In the Matter of the Accounting of Bankers Trust Company, as Substituted Trustee under The Will of William L. Flanagan, Deceased.

Surrogate's Court, New York County.

April 11, 1951.

Attorney(s) appearing for the Case

Maurice E. McLoughlin and Harold A. Westcott for substituted trustee, petitioner.

David Du Vivier and Samuel R. Davis for Florence A. Flanagan, respondent.

FRANKENTHALER, S.

The provision of deceased's will limiting the trustee to a particular type of investment is held to be inapplicable under current economic conditions (Matter of Wallach, N. Y. L. J., Dec. 8, 1933, p. 2155, col. 4; Matter of Rheinhold, N. Y. L. J., Dec. 14, 1933, p. 2256, col. 2; Matter of Garretson, N. Y. L. J., Jan. 6, 1937, p. 70, col. 4; Matter of Aaron, N. Y. L. J., Jan. 9, 1942, p. 120, col. 1; Matter...

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