PALMER v. WATSON

No. 331.

122 F.2d 598 (1941)

PALMER et al. v. WATSON et al.

Circuit Court of Appeals, Second Circuit.

July 31, 1941.


Attorney(s) appearing for the Case

John B. Doyle, of New York City (John B. Doyle and Frank C. Laughlin, both of New York City, of counsel), for Harold Palmer et al., as Committee for Holders of Unmodified Guaranteed 7% Stock of Manhattan Railway Company, appellants.

Duer, Taylor, Wright & Woods, of New York City (John S. Chapman, Jr., and Harter F. Wright, both of New York City, of counsel) for Theodore S. Watson and others, as Committee.

William C. Chanler, Corp. Counsel (William S. Gaud, Jr., and Leo Brown, all of New York City, of counsel), for City of New York.

Chester W. Cuthell, of New York City (Robert W. Maloney, Jr., of New York City, of counsel), for Transit Commission.

Before L. HAND, CHASE, and CLARK, Circuit Judges.


CHASE, Circuit Judge.

This is another of the many appeals which have been taken from orders made in the equity receivership of the Interborough Rapid Transit Company. It relates to allowances for compensation and expenses sought by the so-called Palmer Committee for the Unmodified Guaranteed 7% stock of the Manhattan Railway Company not as ordinary receivership charges payable out of the general estate but as payments to be made pursuant to an approved plan of unification...

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