IN RE PHILADELPHIA & READING COAL & IRON CO.

No. 7129.

105 F.2d 357 (1939)

In re PHILADELPHIA & READING COAL & IRON CO. Appeal of SCHRAGER.

Circuit Court of Appeals, Third Circuit.

June 30, 1939.


Attorney(s) appearing for the Case

Archibald Palmer, New York City, and Jenkins, Bennett & Libby, of Philadelphia, Pa., for appellant.

Henry Alan Johnston, of New York City for stockholders of debtor.

Arthur Littleton, of Philadelphia, Pa., (Morgan, Lewis & Bockius, of Philadelphia, Pa., of counsel), for debtor.

Allen Hunter White, of Philadelphia, Pa., for Philadelphia debenture holders' committee.

Chester T. Lane, Gen. Counsel, Securities and Exchange Commission, and Martin Riger, both of Washington, D. C., Morton E. Yohalem, of New York City, and Leon S. Alschuler, of Washington, D. C., (J. Anthony Panuch, of New York City, of counsel), for Securities and Exchange Commission.

Before BIGGS, MARIS, and CLARK, Circuit Judges.


MARIS, Circuit Judge.

In the reorganization proceeding of the Philadelphia and Reading Coal and Iron Company instituted in the court below under Sec. 77B of the Bankruptcy Act, 11 U.S.C.A. § 207, a reorganization plan which accords recognition to existing stockholders has been proposed by creditors and referred by the court to a special master for hearing and report. Thereafter a creditor filed a petition praying (1) that the debtor in possession of its property...

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