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IN RE PRUDENCE CO.

No. 27496.

55 F.Supp. 464 (1944)

In re PRUDENCE CO., Inc. Application of PERLSTEIN. Application of CENTRAL HANOVER BANK & TRUST CO.

District Court, E. D. New York.

March 25, 1944.

Attorney(s) appearing for the Case

Willkie, Owen, Otis, Farr & Gallagher, of New York City (Mark F. Hughes, of New York City, of counsel), for Prudence Securities Corporation.

Rathbone, Perry, Kelley & Drye, of New York City, (W. Frederick Knecht, of New York City, of counsel) for Central Hanover Bank & Trust Co.

Montague S. Mendelsohn, of New York City, for petitioner Alfred S. Perlstein.

Milton Loewe, of New York City, for Trustees of Union College et al.

Irving Schanzer, of New York City, for Prudence Realization Corporation.

MOSCOWITZ, District Judge.

This is a motion to confirm the report of Abraham Brill, Esq., Special Master, relating to the distribution of funds received by Central Hanover Bank and Trust Company, as former trustee of the 1961 Bond Issue of The Prudence Company, Inc., as dividends on its claim filed in the bankruptcy of New York Investors, Inc., based upon the latter's guaranty of the 1961 Bond Issue. The essential portion of the indenture provides:

"Each of...

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