PATTERSON, District Judge.
The question is whether interest shall be paid on past due coupons of the Interborough 7 percent notes, out of monies received by the trustee for noteholders from the collateral pledged to secure the notes.
The notes, of which roughly $30,000,000 in face amount are outstanding, were issued in 1922 under an indenture running to Bankers Trust Company as trustee for noteholders. Some $55,000,000 Interborough First and Refunding 5% Bonds...
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