IN RE NATIONAL PUBLIC SERVICE CORPORATION

Nos. 134, 275.

68 F.2d 859 (1934)

In re NATIONAL PUBLIC SERVICE CORPORATION. UTILITIES POWER & LIGHT CORPORATION et al. v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

January 15, 1934.


Attorney(s) appearing for the Case

Wollman & Wollman and Robert G. Starr, all of New York City (Henry Wollman, Robert G. Starr and Edward S. Seidman, all of New York City, of counsel), for appellant Utilities Power & Light Corporation.

Hornblower, Miller, Miller & Boston, of New York City (Claude M. Terrell, of New York City, of counsel), for appellant Mary A. Walsh.

Cotton, Franklin, Wright & Gordon, of New York City (Edward L. Williams, Boykin C. Wright, Paxton Blair, Aldis H. Wurts, and Fredrick M. Eaton, all of New York City, of counsel), for appellee Irving Trust Co.

Wing, Lakin, Russell & Whedon, of New York City, for National Public Service Corporation Debenture Committee.

Sullivan & Cromwell, of New York City, for National Electric Power Corporation Debenture Committee.

Milbank, Tweed, Hope & Webb, of New York City, for Chase Nat. Bank of City of New York, Virginia Public Service Co., and Eastern Shore Public Service Co.

Tracy, Chapman & Welles, of Toledo, Ohio, for Central Utilities Service Co., Central Eastern Power Co., and Municipal Service Co.

John D. Harris, of St. Petersburg, Fla., for Florida Power Corporation and Tide Water Power Co.

English, Quinn, Leemhuis & Tayntor, of Erie, Pa., for Penn Central Light & Power Co.

Zalkin & Cohen, of New York City, for Western Reserve Power & Light Co.

Before L. HAND, SWAN, and AUGUSTUS N. HAND, Circuit Judges.


L. HAND, Circuit Judge.

The bankrupt was one of a series of holding and operating companies closely interwoven in interest, and collectively engaged in furnishing electric power and light to cities in the eastern part of the United States. The National Electric Power Company, another of the series, was the final holding company, owning, along with shares in other subsidiaries, 96 per cent. of the shares of the bankrupt. The...

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