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NEW YORK TRUST CO. v. ISLAND OIL & TRANSPORT CO.

No. 174.

33 F.2d 104 (1929)

NEW YORK TRUST CO. v. ISLAND OIL & TRANSPORT CO. et al.

Circuit Court of Appeals, Second Circuit.

May 20, 1929.

Attorney(s) appearing for the Case

Kohlman & Austrian, of New York City (David Asch and Martin Conboy, both of New York City, of counsel), for appellants.

Hornblower, Miller & Garrison, of New York City (Charles A. Boston, of New York City, of counsel), for appellee.

Chadbourne, Hunt, Jaeckel & Brown, of New York City (William M. Chadbourne, Clinton De Witt Van Siclen, and Alfred H. Phillips, all of New York City, of counsel), for noteholders' committee.

Before MANTON, L. HAND, and CHASE, Circuit Judges.

L. HAND, Circuit Judge (after stating the facts as above).

We shall adopt the receivers' interpretation of section 230 of the New York Lien Law (Consol. Laws, c. 33), not because we think it correct, but because the case does not require a decision upon it, and it is best, when we can, to await an authoritative ruling of the state courts. We shall therefore assume that shares of stock are chattels, that the deed was a mortgage, and that, not being filed, it should...

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