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PALMER v. RECONSTRUCTION FINANCE CORPORATION

No. 48, Docket 20714.

164 F.2d 466 (1947)

PALMER et al. v. RECONSTRUCTION FINANCE CORPORATION.

Circuit Court of Appeals, Second Circuit.

December 4, 1947.

Attorney(s) appearing for the Case

Hermon J. Wells, of New Haven, Conn. (H. H. Corbin, of New Haven, Conn., of Counsel), for appellants.

Rudolf P. Berle, of New York City, for appellee.

Berle, Berle, Agee & Land, of New York City, and W. Meade Fletcher, of Washington D. C. (Robert H. Seabolt (of Berle, Berle, Agee & Land), of New York City, and James L. Dougherty, of Washington, D. C., of counsel), for Reconstruction Finance Corporation.

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

L. HAND, Circuit Judge.

The trustees in reorganization of the New York, New Haven and Hartford Railroad Company, appeal from an order dismissing a petition in which they asked leave to pay off loans made by the Reconstruction Finance Corporation — which we shall call the "R.F.C." — to the railroad with interest at four per cent, instead of at five per cent at which the road had borrowed the money. When the reorganization proceeding was begun on October...

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