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WATTS v. MISSOURI-KANSAS-TEXAS RAILROAD COMPANY

No. 23608.

383 F.2d 571 (1967)

Edward S. WATTS et al., Appellants, v. MISSOURI-KANSAS-TEXAS RAILROAD COMPANY, Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied September 20, 1967.

Attorney(s) appearing for the Case

Sidney Stahl, William Van Dercreek, Ray Besing, Geary, Brice & Lewis, Dallas, Tex., for appellants.

Monroe E. Clinton, John B. Webster, Dallas, Tex., Harry G. Silleck, Jr., Thomas W. Evans, New York City, for appellee, Nixon, Mudge, Rose, Guthrie & Alexander, New York City, of counsel.

Before GEWIN, COLEMAN, GOLDBERG, Circuit Judges.

GOLDBERG, Circuit Judge.

This is a class action brought by eight individuals and a corporation1 (the Holders), who hold 5½% subordinated income debentures due January 1, 2033, on behalf of all other holders, against the Missouri-Kansas-Texas Railroad (Katy).2 The Debenture is an unconditional promise to pay 5½% interest out of income as defined in Article 2 of the Indenture, dated January 1, 1958...

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