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MATTER OF PENN CENTRAL TRANSP. CO.

No. 70-347.

406 F.Supp. 907 (1976)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.

United States District Court, E. D. Pennsylvania.

January 16, 1976.

Attorney(s) appearing for the Case

Paul R. Duke, James E. Howard and Edwin K. Taylor, Philadelphia, Pa., for the trustees, Penn Central Transp. Co.

Sullivan & Worcester by Morris Raker, Boston, Mass., and Gratz, Tate, Spiegel, Ervin & Ruthrauff by Wilbur Bourne Ruthrauff, Philadelphia, Pa., for Richard Joyce Smith, trustee, New York, New Haven & Hartford Railroad Co.

Willkie, Farr & Gallagher by Louis Craco, New York City, for Institutional Investors Penn Central Group.

Ballard, Spahr, Andrews & Ingersoll by Lewis A. Grafman, Philadelphia, Pa., for indenture trustees.

David Berger, P. A., by David Berger and Daniel Berger, Philadelphia, Pa., for Penn Central Co.

James F. Dausch, Washington, D. C., for the United States.

MEMORANDUM IN SUPPORT OF ORDER NO. 2158

FULLAM, District Judge.

As authorized by Order No. 124, the Trustees, in January of 1971, borrowed $100 million through the issuance of trustees certificates. Pursuant to the Emergency Rail Services Act of 1970, 45 U.S.C. § 661 et seq., the United States, acting through the Secretary of Transportation, guaranteed payment of these certificates.

The first installment of principal, in the amount of...

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