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IN RE OUTFITTERS' OPERATING REALTY CO.

No. 135.

69 F.2d 484 (1934)

In re OUTFITTERS' OPERATING REALTY CO., Inc., (DELAWARE). WINSTON-SALEM MASONIC TEMPLE CO. v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

March 5, 1934.

Attorney(s) appearing for the Case

Hall, Cunningham, Jackson & Haywood, of New York City (John H. Jackson, of New York City, of counsel), for appellant.

Beekman, Bogue & Clark, of New York City (Edward K. Hanlon and John A. McNaughton, both of New York City, of counsel), for appellee.

Before MANTON, AUGUSTUS N. HAND, and CHASE, Circuit Judges.

MANTON, Circuit Judge.

The Outfitters' Operating Realty Company, Inc., was adjudicated a bankrupt September 30, 1932. A trustee was elected October 15, 1932. The bankrupt leased appellant's property at Winston-Salem, N. C., June 28, 1929, for a term of thirty years.

Paragraph 4 of the lease provided for demolition or reconstruction of the building thereon and the erection of a new or remodeled building by the lessee. The lessor

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