Ogilvie

This is an appeal under section 24b of the Bankruptcy Act, as amended (11 U.S. C.A. § 47 (b), from an order of the District Court of the United States for the Western District' of Washington entered on April 11, 1936, denying a motion made by appellant to dismiss for want of jurisdiction voluntary proceedings for corporate reorganization instituted under section 77B of the Bankruptcy Act, as amended ( 11 U.S.C.A. § 207 ).

The Dexter Horton Estate, the debtor corporation and one of the appellees on this appeal, is a corporation organized under the laws of the state of Washington with a capital stock of 2,500 shares of fully paid and nonassessable common stock of the par value of $100 per share, to operate the Dexter Horton Building and the personal property therein, located at the corner of Second and Cherry streets in the city of Seattle, Wash.

The real and personal property of the corporation is subject to a first mortgage, dated June 28, 1927, recorded June 29, 1927, as a real estate and as a chattel mortgage, and subject to a second mortgage of the same date likewise recorded.

The first mortgage secures $2,020,000 of first mortgage 6 per cent, sinking” fund gold bonds of the…