IN RE PITTSBURGH RYS. CO.

Nos. 8964, 8967, No. 8996.

155 F.2d 477 (1946)

In re PITTSBURGH RYS. CO.

Circuit Court of Appeals, Third Circuit.

Decided May 7, 1946.


Attorney(s) appearing for the Case

Maurice J. Dix, of New York City (Charles B. Prichard, of Pittsburgh, Pa., and Joseph Nemerov and Aaron Schwartz, both of New York City, on the brief), for appellants Guggenheim.

Anne X. Alpern and Leon Wald, both of Pittsburgh, Pa., for appellant City of Pittsburgh.

Samuel M. Koenigsberg, of New York City (Roger S. Foster, Solicitor, of Philadelphia, Pa., Milton V. Freeman, Asst. Solicitor, of Washington, D. C., George Zolotar, Atty. Securities and Exchange Commission, of New York City, on the brief), for Securities & Exchange Commission.

H. F. Stambaugh, of Pittsburgh, Pa., for appellants Baker and others.

Thomas J. Munsch, Jr., of Pittsburgh, Pa. (C. Elmer Bown and Philip A. Fleger, both of Pittsburgh, Pa., on the brief), for Philadelphia Co.

Wm. S. Moorhead, of Pittsburgh, Pa. (Moorhead & Knox and Judson A. Crane, all of Pittsburgh, Pa., on the brief), for appellee Monongahela St. Ry. and others.

Richard W. Ahlers, of Pittsburgh, Pa., for Suburban Rapid Transit Co.

Walsh & Levine, of New York City (William F. Walsh, of New York City, of counsel), for Cornelius F. Sullivan and Richard F. Bohl, as committee for public holders of stock of Citizens Traction Co., an unguaranteed underlier.

J. Henry O'Neill, J. Garfield Houston, and Blaxter, O'Neill & Houston, all of Pittsburgh, Pa., for W. D. George, trustee.

Before BIGGS, GOODRICH and McLAUGHLIN, Circuit Judges.


GOODRICH, Circuit Judge.

The City of Pittsburgh petitioned the District Court to exercise jurisdiction in bankruptcy reorganization over all underliers of the debtor, Pittsburgh Railways Company, and to determine the rights and interests of all stockholders and creditors thereof. This case arises on appeal from the dismissal of that petition as recommended by the Special Master.

History of the System.

The highly involved financial structure and complicated...

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