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BARRETT v. DENVER TRAMWAY CORPORATION

No. 8575.

146 F.2d 701 (1944)

BARRETT et al. v. DENVER TRAMWAY CORPORATION.

Circuit Court of Appeals, Third Circuit.

Decided December 13, 1944.

Attorney(s) appearing for the Case

Andrew P. Quinn, of Providence, R. I., and Stewart Lynch, of Wilmington, Del. (Frank Licht, of Providence, R. I., on the brief), for appellants.

Erskine R. Myer, of Denver, Colo. (Hastings, Stockly and Layton and Caleb R. Layton, 3rd, all of Wilmington, Del., and Hughes & Dorsey, of Denver, Colo., on the brief), for appellee.

Before DOBIE and McLAUGHLIN, Circuit Judges, and KALODNER, District Judge.

McLAUGHLIN, Circuit Judge.

This matter arises out of the recapitalization of a Delaware corporation which eliminated accrued dividends on its old preferred shares. Suit was brought by preferred stockholders who attacked the then proposed plan as unfair. Diversity of citizenship is the basis of federal jurisdiction. The District Court dismissed their complaint.

There is a preliminary question on the appellee's motion to dismiss the appeal. The grounds for the...

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