IN RE BALDWIN LOCOMOTIVE WORKS

No. 18519.

21 F.Supp. 94 (1937)

In re BALDWIN LOCOMOTIVE WORKS.

District Court, E. D. Pennsylvania.

February 4, 1937.


Attorney(s) appearing for the Case

A. Allen Woodruff and William Clarke Mason, both of Philadelphia, Pa., for debtor.

Henry S. Drinker, Jr., of Philadelphia, Pa., for mortgage bondholders.

Edward A. G. Porter and Maurice B. Saul, both of Philadelphia, Pa., for preferred shareholders and for trustee for first mortgage bondholders.

L. A. Stebbins, of Chicago, Ill., and Richard K. Stevens, of Philadelphia, Pa., for objecting preferred stockholders.

Francis A. Lewis, of Philadelphia, Pa., for common stockholders' committee.

Loria & Martinson, of New York City, and Nathaniel S. Shaham, of Philadelphia, Pa., for Wm. A. Brady.

Arthur Garfield Hays, of New York City, for consolidated bondholders.


DICKINSON, District Judge.

This cause is now ripe for a ruling after leave given to submit briefs.

The questions presented arise out of what is known as a 77B proceeding. The genesis of the amendment to the Bankruptcy Act incorporated into the act as section 77B, as amended (11 U.S.C.A. § 207), has often been given but will bear repetition to afford light on the questions raised. The poor we have always with us, and at all times there have been those...

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