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MTR. OF GUARANTY TRUST CO.

22 Misc.2d 83 (1960)

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

Supreme Court, Special Term, New York County.

March 9, 1960.

Attorney(s) appearing for the Case

Davis Polk Wardwell Sunderland & Kiendl (Theodore Kiendl, Walter D. Fletcher, Andrew Y. Rogers, J. Dormer Cannon and Henry L. King of counsel), for petitioner.

Louis J. Lefkowitz, Attorney-General (P. Hodges Combier and Donald H. Holley of counsel), for State of New York.

Elisha Hanson, Arthur B. Hanson and Brown, Cross & Hamilton for American Chemical Society, respondent.

Edwin Jason Dryer for Independent Refiners Association of America and others, intervenors-respondents.

Lowenstein, Pitcher, Spence, Hotchkiss, Amann & Parr for Quaker State Oil Refining Corp. and others, intervenors-respondents.

Winthrop, Stimson, Putnam & Roberts for South Penn Oil Company, intervenor-respondent.

Simpson Thacher & Bartlett for Lehman Brothers and others.

John G. Woods for Universal Oil Products Company.

JACOB MARKOWITZ, J.

There is now before the court a motion by the trustee, Morgan Guaranty Trust Co. of New York, for an order (1) disaffirming the further supplemental report of the referee, dated November 16, 1959, and (2) approving the trustee's application to be allowed as compensation for its services 10% of $72,500,000, that sum representing the proceeds of the sale of the securities of Universal Oil Products Company. There is also before the court...

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