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RITCHIE v. FARRELLY

16 N.J. Super. 214 (1951)

84 A.2d 468

MARGARET MALONEY RITCHIE, HELEN MALONEY OSBORN AND GIRARD TRUST COMPANY, TRUSTEES UNDER WILL OF MARTIN MALONEY, DECEASED, PLAINTIFFS, v. MARY CATHERINE RITCHIE FARRELLY, MARGARET RITCHIE RIDSDALE, MARTIN M. OSBORN, ANNE CARBERRY FARRELLY, RICHARD L. FARRELLY, JR., PATRICIA FARRELLY, MARGARET RITCHIE FARRELLY, LISA CARBERRY FARRELLY, LOUIS C.R. FARRELLY, MARIE LOUISE FARRELLY, DIANA PAINE OSBORN AND MARTIN MALONEY OSBORN, JR., DEFENDANTS.

Superior Court of New Jersey, Chancery Division.

Decided November 7, 1951.

Attorney(s) appearing for the Case

Messrs. Boyle, Archer & Greiner (Mr. F. Morse Archer, Jr., appearing), attorneys for plaintiffs.

Mr. Grover C. Richman, Sr., for adult defendants and Mary Catherine Ritchie Farrelly, guardian ad litem.

McLEAN, J.S.C.

This matter is submitted on the pleadings, depositions and briefs. The plaintiffs are the trustees under the will of Martin Maloney, late of Spring Lake. By these proceedings they seek the instructions of the court as to their rights and duties pursuant to the terms of the will and the recent legislative enactment of the "Prudent Man Act." The basic issues are whether or not the trustees are authorized to retain as trust investments: (a) securities...

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