Palmer v. Watson

CHASE, Circuit Judge.

This is another of the many appeals which have been taken from orders made in the equity receivership of the Inter-horough Rapid Transit Company. It relates to allowances for compensation and expenses sought by the so-called Palmer Committee for the Unmodified Guaranteed 7% stock of the Manhattan Railway Company not as ordinary receivership charges payable out of the general estate but as payments to be made pursuant to an approved plan of unification out of stock and cash allowable to the securities represented by the committee. The order from which the Palmer Committee…