Law: Fees

In Manhattan, the Reorganization Managers of the Missouri, Kansas & Texas Railroad—J. & W. Seligman & Co. and Hallgarten & Co.—are asking for $2,364,249 including $750,000 for counsel fees. They are represented by Cravath, Henderson & De Gersdorff and Larkin, Rathbone & Perry; and the Interstate Commerce Commission is holding a series of hearings to determine the "reasonableness" of these charges.

A number of prominent lawyers, including Alfred Jaretzki, of Sullivan & Cromwell, and Edward Cornell, of Davies, Auerbach & Cornell, testified last week that they believed the counsel fees of $750,000...

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