DYER, Chief Judge.
This is a proceeding in Admiralty on a Petition for Limitation of or Exoneration from Liability, 46 U.S.C.A. §§ 181-195, filed by L. HENRY READ, JR. and B. DEVEREAUX BARKER, JR., as owners of the yacht "MERIDIAN." GEORGE PENNELL answered the Petition and filed claim for personal injury, no other claimants having appeared and their default having previously been noted. The facts are not in dispute.
The Petitioners each owned equal...
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