In Re the Accounting of New York Trust Co.
21 N.E.2d 615 | NY | 1939
Lead Opinion
Order affirmed, with costs payable out of the estate. No opinion. *776
Concur: LEHMAN, HUBBS, LOUGHRAN and RIPPEY, JJ. Taking no part: O'BRIEN, J. CRANE, Ch. J., dissents in the following memorandum in which FINCH, J., concurs:
Dissenting Opinion
The testator gave directions in the fifth clause of his will and the executors followed them. The sudden financial collapse of 1929 and 1930 was so extraordinary that the executors cannot be called negligent because they anticipated what everybody else did — a rise from a sudden drop. We are all wise after the event.
