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STEELE v. GUARANTY TRUST CO. OF NEW YORK

No. 34, Docket 20680.

164 F.2d 387 (1947)

STEELE et al. v. GUARANTY TRUST CO. OF NEW YORK.

Circuit Court of Appeals, Second Circuit.

December 8, 1947.

Attorney(s) appearing for the Case

Shulman, Shulman & Abrams, of Chicago, Ill., and Bennett I. Schlessel, of New York City (Meyer Abrams, of Chicago, Ill., of counsel), for appellants.

Davis, Polk, Wardwell, Sunderland & Kiendl, of New York City (Ralph M. Carson and Francis W. Phillips, both of New York City, of counsel), for appellee.

Before L. HAND, AUGUSTUS N. HAND and FRANK, Circuit Judges.

FRANK, Circuit Judge.

On the former appeal, we said (143 F.2d at page 528) that, if non-accepting noteholders, other than the original plaintiff, Mrs. York, intervened, the action could be maintained as a class suit under Rule 23(a)(3), Federal Rules of Civil Procedure, 28 U.S.C.A. following section 723c. However, in Hackner v. Guaranty Trust Co., 2 Cir., 117 F.2d 95, we had held that a proceeding under 23 (a)(3) is, in effect, but...

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