In re Erie Railroad

Erie Railroad Company, its trustees in reorganization under the National Bankruptcy Act and the trustee of its refunding and improvement mortgage have instituted this proceeding, under article 78 of the Civil Practice Act, to review So much of a determination of the State Tax Commission as imposed, with respect to $40,000,000 of the Erie’s five per cent bonds, series of 1927, secured by the mortgage, a mortgage recording tax of $97,277, with interest thereon, exacted under section 258 of the Tax Law, at one-half of one per cent per month from June 3, 1927, it having been stated on the…