The trustee is only held liable for the exercise of a reasonable degree of skill, ability, and energy, but is required to exercise the highest possible degree of good faith.

Note to Lewin, Vol. I, on Trusts, Chapt. 14, Sec. 4, Am. Ed.: "Investment of trust funds. - The trustees are to conduct themselves faithfully and exercise sound discretion, not with a view to speculation, but to make a disposition of the trust funds, considering the probable income as well as the safety of the investment; Emery vs. Batchelder, 78 Me., 233; Miller vs. Congdon, 14 Gray, 116; Lovell vs. Briggs, 2 N. H., 219; Van Orden vs. Van Orden, 10 Johns., 31; Roper on Lagacies, 411. If there are any directions in the instrument creating the trust they are to be explicitly followed, as are any rules of court or statute provisions existing in any state. In the absence of these, the trustees may exercise their best judgment in good faith. Trustees should not make investments which will take the trust property beyond the jurisdiction of the court, and ordinarily they will be held responsible for the amount, if they do it, without being especially authorized. Ormiston vs. 01-cott, 22 Hun., 270; Ormiston vs. Olcott, 84 N. Y., 339; Bur-rill vs. Shiel, 2 Barb., 457; Rush's App., 12 Pa. St., 375; Amory vs. Green, 13 Allen, 413; Pet. Baptist Church, 51 N. H., 424; trustees should not invest funds in personal securities; Clark vs. Garfield, 8 Allen, 427; Barney vs. Saunders, 16 How., 545; Smith vs. Smith, 4 Johns., Ch. 281; Spear vs. Spear, 9 Rich. Eq., 184; but the rule is now modified in some states, and in Harvard Coll. vs. Amorv, 9 Pick., 446, it was declared 'all that can be required of a trustee to invest is, that he shall conduct himself faithfully and exercise a sound discretion. He is to observe how men of prudence, discretion, and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of the capital to be invested."