In re the Arbitration between American Silk Mills Corp. & Meinhard-Commercial Corp.

Eager, J. P.

The petitioner appeals from an order and judgment which denied its application for a stay of arbitration and which granted the cross application of respondents to compel arbitration.

In February, 1969, the respondents (“seller”) sold to the petitioner (“ buyer ”) certain real property, improvements, and an inventory of unprocessed yarn, raw materials, goods in process, greige goods and supplies, with provision that said *199inventory should be valued ‘c pursuant to generally accepted accounting principles on a basis consistent with the basis applied by American [a seller] and approved…