Nederlandse Erts-Tankersmaatschappij, N v. V. Isbrandtsen Company, Inc. And Jacob Isbrandtsen

HAYS, Circuit Judge:

This action was brought on an alleged contact of guaranty by defendants of performance of a charter party between plaintiffs and a third party, Canadian Foreign Steamship Company, Ltd.

The charter party contains a clause providing for arbitration of “any and all differences and disputes of whatsoever nature arising out of this Charter.” Plaintiff claiming that Canadian Foreign has failed to pay the agreed upon charter hire, has instituted arbitration proceedings against Canadian Foreign.

In the district court the defendants moved for a stay pending arbitration and the motion…