IN RE REALTY ASSOCIATES SECURITIES CORPORATION

No. 45024.

54 F.Supp. 787 (1944)

In re REALTY ASSOCIATES SECURITIES CORPORATION.

District Court, E. D. New York.

February 3, 1944.


Attorney(s) appearing for the Case

Auchincloss, Alley & Duncan, of New York City (James B. Alley and Charles R. Lowther, both of New York City, of counsel), for debtor.

James F. Dealy, of New York City, for Amalgamated Properties, Inc.

George Zolotar and Kiva Berke, of New York City, for Securities and Exchange Commission.

Lewis, Marks & Kanter and Julius Silver, all of New York City (Jack L. Rappaport, of New York City, of counsel), for Bondholders' Protective Committee.

Halpin & Keogh, of New York City (Eugene J. Keogh, of New York City, of counsel), for trustees.

Herrick & Feinstein, of Brooklyn, N. Y. (Abraham Feinstein, of Brooklyn, N. Y., of counsel), for Bondholders' Directors' Committee.

Percival E. Jackson and Theodore N. Tarlau, both of New York City, for John Vanneck, Barbara B. Vanneck, Equitable Holding Corporation and Frank Bailey.

Harold W. Newman, Jr., of Washington, D. C., for Bondholders' Advisory Committee.

Newman & Bisco, of New York City (Perry A. Hull, of New York City, of counsel), for Manufacturers Trust Co.

Charles J. Buchner, of New York City, for Mary C. O'Neil.

Joseph R. Margulies, of New York City, for bondholders Ernestine. Needles, Abraham Needles, Clara Margulies and Estate of William Margulies, deceased.

Root, Clark, Buckner & Ballantine, of New York City (William P. Palmer, of New York City, of counsel), for Consolidated Realty Corporation.

Archibald Palmer, of New York City, for Anna A. Kuhlmann and Catherine Kuhlmann.


MOSCOWITZ, District Judge.

The debtor is in the process of reorganization under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq. The trustees have applied for instructions concerning the policy to be followed by them in their contemplated use of the debtor's funds for the purchase of mortgages and have requested leave to use up to $200,000 for the purchase of mortgages of limited face value without requiring court approval for each individual transaction...

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