In the Matter of the Accounting of Union Trust Company of New York, as Trustee Under the Will of Charles F. Hoffman…

Summary

The New York Court of Appeals affirmed the decree overturning the appellants' objections to the Union Trust Company's investment of several trust funds in a single bond held in the company's name, finding that proper declarations of ownership and beneficiary notice satisfied the requirements for such combined investments. Justice Bartlett, concurring in part, agreed with the reasoning but argued the order should be modified to require the trustee to change the investment form.