v1946-123

Security- First National Bank of Los Angeles (a corporation),

as Trustee, and Pacific States iSavings and Loan Company (a

corporation). Appellants, v. Rindg-e Land and Navigation Com-

pany (a corporation) Debtor, et al.. Appellees. U. S. Circuit

Court of Appeals, Ninth Circuit No. 7965.

Negotiations and dealings of Free-Reed Syndicate and

Pacific States with Debtor, Bondholders' Committee and

individual bondholders.

Prepared by Appellant Pacific States etc. Company.

N. B. Bids below are spoken of as gross and net. In bids gross,

the selling bondholders were to bear the expenses of the

Committee; in bids net, the purchaser paid the specified

figure, plus committee expenses.

Free-Reed

Oct. 16, 1934

Verbal offer to committee of

30^ gross for bonds. Refused

to comply with committee's re-

quest to make bid net (R. 531).

Pacific States

FILED

^'1AY1C1936

PAUL p. Q'mEN,

Oct. 18, 1934

Offer of $100,000 for Debtor's

equity which was tentatively ac-

cepted by Debtor (R. 457).

Oct. 19 (or 20) 1934

Offered 32^ net for bonds

conditioned on Debtor agree-

ing to take .$100,000 for its

equity, which it had already

previously agreed to do (high-

est bid for bonds at this date)

(R. 458, 560, 561). On October

19 Pacific States' $100,000 offer

for Debtor's equity was rejected

by Debtor (R. 457-458).

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