CHASE NAT. BANK v. MOBILE & O. R. CO.

No. 56.

37 F.Supp. 453 (1941)

CHASE NAT. BANK OF CITY OF NEW YORK et al. v. MOBILE & O. R. CO. et al.

District Court, S. D. Alabama, S. D.

February 26, 1941.


Attorney(s) appearing for the Case

Gordon, Leigh, Leigh & Gordon, of Mobile, Ala., for Gatch, Tennant & Co.

S. R. Prince and Henry L. Walker, both of Washington, D. C., for Mobile & Ohio R. Co.

Smith & Johnston, of Mobile, Ala., and Mitchell, Taylor, Capron & Marsh, of New York City, for City Bank Farmers Trust Co., as trustee under Mobile & Ohio R. Co.'s general mortgage dated May 15, 1888.

Harry T. Smith & Caffey, of Mobile, Ala., and Larkin, Rathbone & Perry, of New York City, for Central Hanover Bank & Trust Co., as trustee under Mobile & Ohio R. Co.'s Montgomery Division first mortgage dated February 1, 1897.

Rushton & Rushton, of Montgomery, Ala., and Stewart & Shearer, of New York City, for United States Trust Co. of New York, as successor trustee under Mobile & Ohio R. Co.'s trust indenture dated September 1, 1930.

Rushton & Rushton, of Montgomery, Ala., and Mudge, Stern, Williams & Tucker, of New York City, for Chase Nat. Bank of City of New York and Carl E. Buckley, as successor trustees under Mobile & Ohio R. Co.'s refunding and improvement mortgage dated as of July 1, 1927.

N. E. Stallworth, of Mobile, Ala., for First Nat. Bank of Mobile, Mobile, Ala., as successor trustee under Mobile & Bay Shore Ry. Co.'s first mortgage dated May 1, 1899.

George W. Jaques, of New York City, for Frederic W. Ecker, Chairman, Bondholders' Protective Committee, No. 1 Madison Ave.; New York, N. Y.

N. E. Stallworth, of Mobile, Ala., for Herbert C. Brown, Alfred L. Staples, and Sidney Lowenstein, as Bondholders' Protective Committee, Mobile, Ala.

Smith & Johnston, of Mobile, Ala., and S. R. Prince, S. S. Alderman, and Henry L. Walker, all of Washington, D. C., for Southern Ry. System.

Carter, Ledyard & Milburn, of New York City, for Guaranty Trust Co. of New York.

Pillans, Cowley & Gresham, of Mobile, Ala., for Railroad Credit Corporation.

Coleman, Spain, Stewart & Davies, of Birmingham, Ala., for United States Fidelity & Guaranty Co.

Lyons & Thomas, of Mobile, Ala., for Hudson County Nat. Bank.

Benners, Burr, McKamy & Forman, of Birmingham, Ala., for Illinois Cent. R. Co.

Mahorner & Mahorner, of Mobile, Ala., for Mrs. Alleen G. Barker.

Wm. McLeod, of Mobile, Ala., for First Nat. Bank of Mobile, as trustee for C. E. Ervin and T. M. Stevens, as receivers.

Henry L. Walker, of Washington, D. C., for Georgia Industrial Realty Co.

E. M. Goodman, of Milwaukee, Wis., and Howell & Johnston, of Mobile, Ala., for Edith C. Goodman, Mitchell Street State Bank, and Mason Loundy.

Smith & Johnston, of Mobile, Ala., and Mitchell, Taylor, Capron & Marsh, of New York City, for City Bank Farmers Trust Co., as trustee under Mobile & Ohio R. Co.'s debenture trust deed dated May 1, 1879.

Milbank, Tweed & Hope, of New York City, for Reorganization Committee.

J. N. Flowers, of Mobile, Ala., and Beekman, Bogue, Stephens & Black, of New York City, for Gulf, M. & N. R. Co.

Francis H. Inge, of Mobile, Ala., for Gulf Terminal Co.

Carl Fox, of Mobile, Ala., for C. E. Ervin and T. M. Stevens, receivers of Mobile & O. R. Co.

C. M. Clay and A. Marvin Braverman, both of Washington, D. C., and Nicholas E. Stallworth, of Mobile, Ala., for Reconstruction Finance Corporation.


ERVIN, District Judge.

On a bill filed in June, 1932, against the Mobile & Ohio Railroad Company by a general creditor, a receiver was appointed by the Court to take charge of and operate the railroad because of its insolvency, and to protect and preserve the property.

The receivers continued to operate it until August, 1940. About 1938, negotiations looking to a reorganization of the railroad began and ultimately brought about a consolidation of the Mobile...

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