GROUP OF INVESTORS v. MILWAUKEE R. CO.

No. 11.

318 U.S. 523 (1943)

GROUP OF INSTITUTIONAL INVESTORS ET AL. v. CHICAGO, MILWAUKEE, ST. PAUL & PACIFIC RAILROAD CO.

Supreme Court of United States.

Decided March 15, 1943.


Attorney(s) appearing for the Case

Messrs. Kenneth F. Burgess and Fred N. Oliver (with whom Messrs. Douglas F. Smith and Willard P. Scott were on the brief) for Group of Institutional Investors and Mutual Savings Bank Group, respectively, petitioners in Nos. 11 to 19, inclusive. Mr. Russell L. Snodgrass, with whom Solicitor General Fahy and Mr. Emmet McCaffery were on the brief, for Reconstruction Finance Corporation, petitioner in No. 32.

Mr. A.N. Whitlock for Henry A. Scandrett et al., Trustees, Chicago, M., St. P. & P.R. Co.; Mr. John L. Hall, with whom Messrs. Frank C. Nicodemus, Jr., James Garfield, and Charles P. Curtis, Jr., were on the brief, for Chicago, M., St. P. & P.R. Co.; Mr. Albert K. Orschel, with whom Mr. Edward R. Johnston was on the brief, for Protective Committee of Holders of Preferred Stock; Mr. M'Cready Sykes, with whom Mr. George L. Shearer was on the brief, for United States Trust Co., Trustee; Mr. Frederick J. Moses for "University Group" of General Mortgage Bondholders; Messrs. Edwin S.S. Sunderland and C. Frank Reavis (with whom Messrs. Malcolm Fooshee and Henry F. Tenney were on the brief) for Fifty-Year Mortgage Trustees and Protective Committee for Fifty-Year Mortgage Bonds, respectively; Mr. Meyer Abrams for Adjustment Mortgage Bondholders; Mr. Thomas S. McPheeters for Gary First Mortgage Group; and Messrs. Reese D. Alsop and Ernest S. Ballard (with whom Messrs. Carl Meyer, Donald M. Graham, Frederick Secord, Charles Myers, Robert V. Massey, Jr., W.F. Peter, William A. McSwain, and Edwin H. Cassels were on the brief) for Chicago, Terre Haute & Southeastern Ry. Co. First Lien Bondholders Committee and Massachusetts Mutual Life Ins. Co. et al., respectively, — respondents.

Appearances were entered by Mr. Thomas O'G. Fitz Gibbon for Guaranty Trust Co. et al., Trustees; by Messrs. John B. Marsh and Edward E. Watts, Jr., for City Bank Farmers Trust Co., Trustee; and by Mr. Frederic Burnham for Continental Illinois National Bank & Trust Co., Trustee, — respondents.

Solicitor General Fahy and Mr. Daniel W. Knowlton filed a memorandum on behalf of the Interstate Commerce Commission as amicus curiae. Messrs. John L. Hall, James Garfield, and Charles P. Curtis, Jr., on behalf of the Chicago, Rock Island & Pacific Ry. Co. et al.; and Mr. William V. Hodges, also filed briefs as amici curiae.


MR. JUSTICE DOUGLAS delivered the opinion of the Court.

These cases are companion cases to Ecker v. Western Pacific R. Corp., ante, p. 448, and are here on writs of certiorari to the Circuit Court of Appeals for the Seventh Circuit. They involve numerous questions relating to a plan of reorganization for the Chicago, Milwaukee, St. Paul & Pacific Railroad Co., formulated in proceedings under § 77 of...

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