Opinion
June 25, 1937.
In a proceeding instituted by the appellants, trustees, under a plan of reorganization for Series B-1 of mortgage investments of the New York Title and Mortgage Company, for an order directing the owner-respondent to pay surplus income to the trustees in reduction of the principal of the underlying first mortgage covering real estate of the owner: order denying application without prejudice to renewal affirmed, with ten dollars costs and disbursements. In thus affirming the court does not pass on or approve the "management expense" charged by the owner-respondent but leaves that question in abeyance, to be determined on a future accounting. Hagarty, Carswell, Davis, Adel and Taylor, JJ., concur.