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UNITED STATES v. NORTHWESTERN TELEGRAPH CO.

Nos. 203, 204.

83 F.2d 468 (1936)

UNITED STATES v. NORTHWESTERN TELEGRAPH CO.

Circuit Court of Appeals, Second Circuit.

May 11, 1936.

Attorney(s) appearing for the Case

Robert P. Butler, U. S. Atty., and George H. Cohen, Asst. U. S. Atty., both of Hartford, Conn., Frank J. Wideman, Asst. Atty. Gen., and Sewall Key, J. Louis Monarch, and S. E. Blackham, Sp. Assts. to Atty. Gen., for the United States.

Arthur L. Shipman, of Hartford, Conn., for appellee.

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

AUGUSTUS N. HAND, Circuit Judge.

The defendant, Northwestern Telegraph Company, on May 7, 1881, leased its entire property to the Western Union Telegraph Company for 99 years. The latter corporation agreed to pay an annual cash rental therefor directly to the stockholders of the lessor based upon a certain agreed percentage upon the par value of the shares held by them respectively. It was also provided in the lease that the lessee should indorse upon each certificate...

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