In re Long Island R.

KENNEDY, District Judge.

This is an application brought on by petition dated October 18, 1951, for an order authorizing the trustee to accept an offer made by the Board of. Transportation of the City of New York with the unanimous approval of the Board of Estimate of the City of New York (in what is said hereafter I shall usually refer to these two agencies as the “city”). Under the offer the city agrees to pay to the trustee of the Long Island Rail Road the sum of $8,500,-000. for the Rockaway lines of the road. The property which is the subject of the purchase is the line extending from…