IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

382 F.Supp. 851 (1974)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re PROCEEDINGS FOR the REORGANIZATION OF A RAILROAD.

United States District Court, E. D. Pennsylvania.

July 2, 1974.


Attorney(s) appearing for the Case

John De Podesta, and Carl Helmetag, Jr., Philadelphia, Pa., and Covington & Burling by Charles A. Horsky, Washington, D.C., for the trustees, Penn Cent. Trans. Co.

Jerome E. Sharfman and Stuart G. Meister, Washington, D.C., for U.S. Dept. of Trans.

Wilmer, Cutler & Pickering by William R. Perlik, Louis R. Cohen, Washington, D.C., for U.S. Railway Ass'n.

Goodman & Ewing by William H. Ewing, Philadelphia, Pa., and Mitchell L. Bach, Philadelphia, Pa., for Connecting Railway Co., John C. Kohl, trustee of Delaware Railroad Co. and Philadelphia, Baltimore & Washington Railroad Co., and Fairfax Leary, trustee of United N.J. Railroad & Canal Co.

MacCoy, Evans & Lewis by Mark Willcox, Jr., and Herbert G. Schick, Philadelphia, Pa., for Michigan Cent. Railroad Co., Pittsburgh, Youngstown & Ashtabula Railway Co., Philadelphia & Trenton Railroad Co., Northern Cent. Railroad Co., and Union Railroad of Baltimore.

Walsh & Frisch by E. Roger Frisch, New York City, for Beech Creek Railroad Co., The Cleveland, Cincinnati, Chicago & St. Louis Railway Co., The Cleveland & Pittsburgh Railroad Co., Erie & Pittsburgh Railroad Co., Penndel Co., Pittsburgh, Fort Wayne & Chicago Railway Co., and The Mahoning Coal Railroad Co.

David Berger, P.A. by David Berger, Philadelphia, Pa., for Penn Cent. Co.

Elkind, Lampson & Sable by Donald E. Lampson, New York City, for Walter J. Schloss Associates.

Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of New York.

Leon Leighton, New York City, for minority stockholders of Mahoning Coal Railroad.

Sharon, Pierson, Semmes, Crolius & Finley by William T. Finley, Jr., and Peter J. Levin, Washington, D.C., for Pennsylvania Co.

Richards, Layton & Finger, by Richard G. Elliott, Jr., Wilmington, Del., for Wilmington Trust Co., indenture trustee.

White & Case by P. B. Konrad Knake, Robert L. Clare, and Edmond C. Gregorian, New York City, liaison counsel for American National Bank & Trust Co. of Chicago, The Bank of New York, Bankers Trust Co., The Fidelity Bank, Girard Trust Bank, Irving Trust Co., Manufacturers Hanover Trust Co. of New York, Mellon Bank, N.A., Provident National Bank, Wilmington Trust Co., Bank of New Jersey, First Pennsylvania Banking & Trust Co., and Peoples Trust Co. of New Jersey, indenture trustees.

Proskauer, Rose, Goetz & Mendelsohn by Philip M. Hahn, New York City, for The Bank of New York, as indenture trustee.

Morgan, Lewis & Bockius by Edward B. Cloues, II, Philadelphia, Pa., for The Fidelity Bank.

Kelley, Drye, Warren, Clark, Carr & Ellis by William F. Sorin, New York City, for Manufacturers Hanover Trust Co.

Chatz, Sugarman & Abrams by Nicholas G. Dozoryst, II, Chicago, Ill., for American National Bank of Chicago.

Kenneth S. Levy, Deputy Atty. Gen., for the State of New Jersey.


MEMORANDUM IN SUPPORT OF FINDINGS AND ORDERS PURSUANT TO THE SECOND CLAUSE OF § 207(b) of the Regional Rail Reorganization Act of 1973 In the Secondary Debtors' Proceedings

FULLAM, District Judge.

Concurrently herewith, I have filed a Memorandum in support of findings and Order No. 1597 in the Penn Central proceedings, setting forth the reasons leading to my conclusion that the Regional Rail Reorganization Act of 1973 (hereinafter "RRRA" or the "Act...

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