American S. S. Co. v. Wickwire Spencer Steel Co.

PER CURIAM.

The special master’s report fully considered the numerous objections now urged on this appeal. The learned District Judge, in a carefully considered opinion, confirmed in all respects the conclusions reached by the special master. We have examined the many objections urged against the decree of foreclosure and sale entered below, but find them satisfactorily answered in the opinion below.

As the valuation of the properties of the Wiekwire Speneer Steel Company arrived at by appraisal amounts to less than- the liens and indebtedness which have priority over the claims of the stockholders who are appellants here, the court below properly held that the appellants have no interest, and therefore should have no voice, in the plan of reorganization which will be considered by the court below.

Decree affirmed.