IN RE LONG ISLAND R. CO.

Bankr. 47970.

100 F.Supp. 810 (1951)

In re LONG ISLAND R. CO.

United States District Court E. D. New York.

October 25, 1951.


Attorney(s) appearing for the Case

Shearman & Sterling & Wright, New York City (Boykin C. Wright, William W. Golub, and Thomas A. Ennis, all of New York City, of counsel), for Trustee.

Edward W. Bourne, New York City, for Long Island Transit Authority.

Conboy, Hewitt, O'Brien & Boardman, New York City (John Vance Hewitt, and Bernard Sobol, New York City, of counsel), for the Pennsylvania R. and American Contract and Trust Co.

G. Burchard Smith, County Atty., of Nassau County, Mineola, N. Y., Orrin G. Judd, Special Counsel, New York City.

Harold L. Warner, New York City (Edward L. Cox, Jr., Asst. Counsel, Brooklyn, N. Y., of counsel), for The Board of Transportation of the City of New York.

Dennis M. Hurley, Corp. Counsel of the City of New York, Brooklyn, N. Y., and James J. Thornton, Asst. Corp. Counsel, New York City, for City of New York.

Nathaniel L. Goldstein, Atty. Gen. (Abe Wagman, Asst. Atty. Gen., of counsel), for the State.

Milbank, Tweed, Hope & Hadley, New York City (Orville W. Wood, New York City, of counsel), for Chase National Bank of the City of New York as Trustee under the Refunding Mortgage.

Cravath, Swaine & Moore, New York City (R. O. Hancox, New York City, of counsel), for the Chemical Bank & Trust Co.

Lawrence E. Walsh, New York City (Philip Hodes, Asst. Counsel, New York City, of counsel), for Public Service Commission.

O'Donnell & Schwartz, New York City (John F. O'Donnell, New York City, of counsel), for Transport Workers Union of America, CIO.

C. W. Wysong, General Chairman, Brotherhood of Railway and Steamship Clerks.

Edward F. Higley, Jr., representing R. Labor Executive Assn.

Bernard L. Alderman, New York City, representing Brotherhood of R. Trainmen.

James O'Connell, New York City, representing Brotherhood of Locomotive Engineers.

M. A. Porch, Vice President Brotherhood of Locomotive Firemen and Engineers.

T. L. Carman, New York City, H. C. Maier, Gen. Chairman of Brotherhood of Locomotive Firemen and Engineers.

F. H. Meyers, Gen. Chairman of Brotherhood of Railroad Firemen.

A. E. MacDougall, representing Queens Chamber of Commerce and Long Island Real Estate Board.

William F. Brunner, former President of the Chamber of Commerce of the Rockaways.

George Wolpert, Executive Secretary of the Chamber of Commerce of the Rockaways.


KENNEDY, District Judge.

This is an application brought on by petition dated October 18, 1951, for an order authorizing the trustee to accept an offer made by the Board of Transportation of the City of New York with the unanimous approval of the Board of Estimate of the City of New York (in what is said hereafter I shall usually refer to these two agencies as the "city"). Under the offer the city agrees to pay to the trustee of the Long Island Rail Road the sum of...

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