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PANAMA CANAL COMPANY v. ANDERSON

No. 19116.

312 F.2d 98 (1963)

PANAMA CANAL COMPANY, Appellant, v. Spencer M. ANDERSON et al., and Arthur Morgan et al., Appellees.

United States Court of Appeals Fifth Circuit.

Rehearing Denied February 11, 1963.

Attorney(s) appearing for the Case

Theodore P. Daly, Dwight A. McKabney, David J. Markun, Gen. Counsel, Panama Canal Co., Balboa Heights, Canal Zone, for appellant.

William S. Tyson, Washington, D. C., Charles E. Ramirez, Balboa, Canal Zone, for appellees.

Before TUTTLE, Chief Judge, and RIVES and JONES, Circuit Judges.

JONES, Circuit Judge.

The Panama Railroad Company was incorporated in New York in 1849. From 1905 until 1949, when it was dissolved, all of its stock was owned by the United States. The appellant corporation, Panama Canal Company, herein generally referred to as the Company, was created by the Panama Canal Company Act which the Congress enacted in 1948 and which is now Sections 245 to 258 of the Canal Zone Code. The Company is the successor to the Panama Railroad...

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