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AMERICAN BRAKE SHOE & F. CO. v. INTERBOROUGH RAPID T. CO.

11 F.Supp. 418 (1935)

AMERICAN BRAKE SHOE & FOUNDRY CO. v. INTERBOROUGH RAPID TRANSIT CO.

District Court, S. D. New York.

June 24, 1935.

Attorney(s) appearing for the Case

Davies, Auerbach & Cornell, of New York City (Harold C. McCollum, of New York City, of counsel), for Central Hanover Bank & Trust Co.

Davis, Polk, Wardwell, Gardiner & Reed, of New York City (Edwin S. S. Sunderland and Chester F. Leonard, both of New York City, of counsel), for committee for Interborough first and refunding mortgage bonds.

White & Case, of New York City (Jesse E. Waid, of New York City, of counsel), for Bankers Trust Co.

MACK, Circuit Judge.

Bankers Trust Company is trustee under an indenture by Interborough, pursuant to which it now has nearly $55,000,000 of the Interborough 5 per cent. bonds as collateral securities for nearly $32,000,000 of its 7 per cent. coupon notes. These notes, dated September 1, 1922, matured September 1, 1932, shortly after the appointment of the receiver for the Interborough. No part of the principal notes or of the September 1, 1932, interest coupons was...

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