In re North Eastern Shoe Co.

PETERS, District Judge.

This matter was heard by me on objections to the granting of an application for confirmation of a composition offered by the alleged bankrupt and accepted by a large • majority of its creditors. •

By petition dated April 28, 1931, the alleged bankrupt represented “that a composition of 20% upon all unsecured debts not entitled to a priority, payable in cash, in satisfaction of its debts, will be proposed by it to its creditors before adjudication, as provided by the acts of Congress,” etc., and prayed that a meeting of its creditors' be called to act upon said proposal…