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GUARANTY TRUST CO. v. SEABOARD AIR LINE RY. CO.

No. 214.

62 F.Supp. 207 (1945)

GUARANTY TRUST CO. OF NEW YORK et al. v. SEABOARD AIR LINE RY. CO. et al.

District Court, E. D. Virginia.

July 31, 1945.

Attorney(s) appearing for the Case

Leonard D. Adkins, of New York City, and A. O. B. Sparks, of Macon, Ga., for Reorganization Committee.

W. R. C. Cocke, of Norfolk, Va., and H. J. Gallagher, of New York City, for receivers.

James H. Price, of Greenville, S. C., for G. F. & A. R. Co.

Harry S. Strozier, of Macon, Ga., for Trustee in Bankruptcy for G. F. & A.

Vermont Hatch, of New York City, for Bankers Trust Co. and R. Gregory Page, as trustees of G. F. & A. First Mtge.

CHESNUT, District Judge.

In the course of reorganization of the Seaboard Air Line Railway Company, the Reorganization Managers or Committee, as authorized by an order of this court dated February 8, 1944, purchased $1,574,000 principal amount of Georgia, Florida & Alabama Railroad Company Bonds (hereinafter called the G. F. & A.) paying therefor $750 per $1,000 bond, with funds held by the Seaboard Receivers. The amount purchased represents about 90% of the...

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