MATTER OF DEUTSCHMANN (AM. TEL. & TEL. CO.)


281 A.D. 14 (1952)

In the Matter of Theodore Deutschmann et al., Respondents, and Milton Paulson et al., Appellants-Respondents. American Telephone and Telegraph Company, Respondent-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

November 12, 1952.


Attorney(s) appearing for the Case

S. Hazard Gillespie, Jr., of counsel (James A. Farmer, Pierce W. Gaines, Walter Pond and Henry L. King with him on the brief; Davis Polk Wardwell Sunderland & Kiendl, attorneys), for American Telephone and Telegraph Company, respondent-appellant.

Milton Paulson, appellant-respondent in person.

Jay Leo Rothschild of counsel (Sidney L. Garwin, attorney), for Michael Cohen and others, and Sidney Goldblatt and another, trustees, appellants-respondents.

Jay Leo Rothschild of counsel (William Rosenfeld, for Theodore Deutschmann and others; Glickman & Levinkind for Rose Bennett; Morton Frederick for Edward L. Finn and others; Sidney L. Garwin for Michael Cohen and others), for respondents.

Earl I. Gallant of counsel (Leon Himmelfarbe, attorney), for Postgal Realty Corp., respondent.

Charles Howard Levitt of counsel for Samuel Schack, respondent.

Lawrence B. Simons of counsel (Spring & Eastman, attorneys), for Louise L. Eastman, respondent.

DORE, J. P., CALLAHAN and BREITEL, JJ., concur with VAN VOORHIS, J.; COHN, J., dissents and votes to affirm, in opinion.


VAN VOORHIS, J.

This appeal involves the construction of section 1 of chapter 647 of the Laws of 1950, amending section 21 of the Stock Corporation Law. It concerns whether interest is to be paid upon the awards to dissenting stockholders, and whether costs and expenses of the appraisal proceeding should be assessed against the corporation. Appellant American Telephone & Telegraph Company (hereinafter called...

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