In re Hotel Martin Co. of Utica

MANTON, Circuit Judge.

The debtor corporation owned and operated the Hotel Martin of Utica, N. Y. The hotel had been the property of William M. Martin, the trustee named in these 77B reorganization proceedings, as early as 1901 when it had only 14 rooms. Additions built thereon by Martin in 1915 and 1924 made it a 400-room modern hotel. Martin operated it during these' years, was its general manager, and was as well president and largest stockholder of the corporation organized to own it in 1911.

A first trust mortgage of a million dollars to secure a bond issue, $806,000 of which is still…