In Re the General Realty & Utilities Corp.

Seitz, Vice-Chancellor:

The issue here is whether the appraiser committed error in arriving at his determination of the value of the dissenting stockholders’ shares made pursuant to our present appraisal statute.

As a consequence of a merger between General Realty & Utilities Corporation and its wholly owned subsidiary Gruco, Inc., both Delaware corporations, certain owners of preferred stock of General Realty & Utilities Corporation dissented and requested an appraisal of their shares. Pursuant to the provisions of our appraisal statute, Section 61, Rev.Code 1935, § 2093, as amended by 43…