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MTR. OF GUARANTY TRUST COMPANY OF NEW YORK

15 Misc.2d 507 (1959)

In the Matter of Guaranty Trust Company of New York, as Trustee of Petroleum Research Fund Created by Shell Oil Company, Incorporated, and Others.

Supreme Court, Special Term, New York County.

February 4, 1959.

Attorney(s) appearing for the Case

Davis, Polk, Wardwell, Sunderland & Kiendl (Theodore Kiendl, J. Dormer Cannon and Henry L. King of counsel), for Guaranty Trust Company of New York, as trustee.

Brown, Cross & Hamilton (Arthur B. Hanson, E. Douglas Hamilton and Elisha Hanson of counsel), for American Chemical Society.

Edwin Jason Dryer and William W. Karatz for Independent Refiners Association of America and others.

Winthrop, Stimson, Putnam & Roberts (William W. Karatz and Peter H. Kaminer of counsel), for South Penn Oil Company.

John G. Woods for Universal Oil Products Company.

Louis J. Lefkowitz, Attorney-Genarel (P. Hodges Combier of counsel), for charitable beneficiaries.

JACOB MARKOWITZ, J.

On January 7, 1959, this court confirmed, with a slight modification, the third supplemental report of the Referee, which recommended approval of (1) the sale of all the outstanding stock of Universal Oil Products Company (hereinafter referred to as "Universal") to Universal Oil Processes, Inc. (hereinafter referred to as "Processes"); (2) the selection by the trustee of Lehman Brothers;...

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