Tradax Limited v. M. v. Holendrecht, Her Engines, Boilers, Tackle, Etc. And N. v. Stoomvaart Maatschappij De Maas and Phs. Van Ommeren, N.V.

GURFEIN, Circuit Judge:

This is an appeal from on order of the United States District Court for the Southern District of New York (Duffy, J.) staying this admiralty case pending arbitration. Plaintiffs’ libel in admiralty alleged that they became holders for value of bills of lading issued by the M.V. “Holendrecht,” representing a cargo of corn; and that this cargo was damaged by sea water while on the “Holendrecht,” which was owned and under the control of the defendants. The defendants in their answer demanded arbitration pursuant to the bills of lading, which incorporated by reference a…