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IN RE POSTAL TELEGRAPH & CABLE CORPORATION

No. 248.

89 F.2d 183 (1937)

In re POSTAL TELEGRAPH & CABLE CORPORATION.

Circuit Court of Appeals, Second Circuit.

April 5, 1937.

Attorney(s) appearing for the Case

Javits & Javits, of New York City (Benjamin A. Javits, of New York City, of counsel), for appellants Stewart Committee.

Chadbourne, Stanchfield & Levy, of New York City (Alexander B. Royce, of New York City, of counsel), for Alfred E. Smith and George S. Gibbs, trustees of Postal Telegraph & Cable Corp.

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

PER CURIAM.

After appointment the trustees for the debtor obtained an order from the court authorizing them to consummate negotiations with the National City Bank of New York to finance a loan to the Mackay Radio & Telegraph Company of Delaware, a corporation indirectly owned by the debtor, whereby the interest rate on the note of the Mackay Radio & Telegraph Company to the bank in the sum of $2,660,073.46, dated March 25, 1935, was reduced from 5 to 3 per...

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