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IN RE PORTLAND ELECTRIC POWER CO.

No. B-23986, No. 1044.

97 F.Supp. 896 (1947)

In re PORTLAND ELECTRIC POWER CO.

United States District Court, D. Oregon.

February 6, 1947.

Attorney(s) appearing for the Case

Clarence D. Phillips, Portland, Or., for debtor.

Ralph H. King, Portland, Or., for independent trustees of debtor.

Frederick M. DeNeffe, Paul E. Kern, Portland, Or., for Bondholders Committee.

W. Stevens Tucker, San Francisco, Cal., for Securities & Exchange Commission.

Charles A. Hart, Portland, Or., Edgar G. Crossman and Davis, Polk, Wardwell, Sunderland & Kiendl, New York City, for Guaranty Trust Co.

Justin N. Reinhardt, Portland, Or., for First Preferred Stockholders.

MacCormac Snow, Harry Beckett, Robert T. Mautz and V. Lyle McCroskey, Portland, Or., for Prior Preference Stockholders.

JAMES ALGER FEE, Chief Judge.

Upon June 29, 1946, this court approved for submission to creditors and stockholders of the debtor, the Trustees' Second Alternative Amended Plan of Reorganization, which contemplated as a possibility the sale of the stock of the Portland Traction Company and the Interurban Railway. Since that time the Trustees have consummated the sale of these assets for $7,966,750 in cash. An income tax saving of $1,000,000 was also effectuated incident...

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