Pennsylvania Steel Co. v. New York City R. Co.
| Decision Date | 19 October 1907 |
| Citation | 165 F. 455 |
| Parties | PENNSYLVANIA STEEL CO. et al. v. NEW YORK CITY RY. CO. |
| Court | U.S. District Court — Southern District of New York |
Byrne & Cutcheon, for complainants.
Masten & Nichols, for respondent'sreceivers.
The petition of the receivers, filed this morning, has been carefully considered.It is unfortunate that at the outset of their receivership such large expenditures should be required toward putting the roads and their equipments in proper condition.Evidently some of the work referred to should have been done long ago by the defendant; but that does not change the situation.Whatever is required to make the...
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1 cases
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Pennsylvania Steel Co. v. New York City Ry. Co.
...and equipments of such sort as to amount to reconstruction and new acquisition. See opinions of October 8th (157 F. 440) and October 19th (165 F. 455). It was foreseen then, as event has shown, that the cost of such work would have to be borne by the property; its income is wholly insuffici......