IN RE MERCANTILE ARCADE REALTY CORPORATION

No. 24249-c.

20 F.Supp. 397 (1937)

In re MERCANTILE ARCADE REALTY CORPORATION.

District Court, S. D. California, Central Division.

August 11, 1937.


Attorney(s) appearing for the Case

John J. Kuhn, of New York City, for Trustee Account Blumenthal settlement.

White & Clapp, of Philadelphia, Pa., for Stroud & Co., Inc., Chartered Investment Co., and Pennsylvania Co. for Insurance on Lives.

Earle M. Daniels, of Los Angeles, Cal., for C. J. Pearce, trustee.

Mitchell, Silberberg, Roth & Knupp, of Los Angeles, Cal., for Federal United Corporation and Chartered Investment Co.

Harry G. Sadicoff, of Los Angeles, Cal., for Fred E. Harris, bondholder.

Frank M. Willcox and George A. Judson, both of Los Angeles, Cal., for Frank D. Fuller, bondholder.

Julius V. Patrosso, of Los Angeles, Cal., for debtor corporation.

Gibson, Dunn & Crutcher, of Los Angeles, Cal., and Charles A. Riegelman (of Riegelman, Hess & Hirsch), Beekman, Bogue, Leake, Stephens & Black, and Louis A. Mahoney, all of New York City, and Townsend, Elliott & Munson, of Philadelphia, Pa., for Bondholders' Protective Committee.


COSGRAVE, District Judge.

The Mercantile Arcade Realty Corporation owns a piece of rental business property in the downtown district of Los Angeles, appraised at $2,650,000, with outstanding first mortgage bonds to the amount of $3,639,200, held principally in New York by some 3,300 individual owners. Second mortgage bonds on the property amount to $942,000 and are held largely by the Chartered Investment Company of Philadelphia. Interest became delinquent on the...

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