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MATTER OF GWYNNE

284 A.D. 409 (1954)

In the Matter of the Accounting of Arthur Gwynne et al., as Trustees under The Will of Frederick W. Gwynne, Deceased, Appellants. Frederick Katz, as Special Guardian for Gwendolyn De Clairville and Others, Infants, and on Behalf of Lyndon L. Pearson, Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

June 21, 1954.

Attorney(s) appearing for the Case

John H. Schmid of counsel (Claude Douthit, Jr., with him on the brief; Burke & Burke, attorneys), for appellants.

Frederick Katz, respondent in person.

CALLAHAN, BASTOW and BOTEIN, JJ., concur; COHN, J., dissents and votes to affirm in all respects.

DORE, J. P.

The issue presented is the proper construction of those parts of the will of the testator, Frederick Walker Gwynne, in one part of which (Article Tenth) the testator directs that his fiduciaries "shall not make any investment * * * in any common or preferred stock" (italics throughout ours); and in another part of which (Article Eleventh) he expressly authorized and empowered his fiduciaries...

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