Pennsylvania Steel Co. v. New York City Ry. Co.

• Decision Date: 30 March 1908
• Citation: 161 F. 787
• Parties: PENNSYLVANIA STEEL CO. et al. v. NEW YORK CITY RY. CO. et al. MORTON TRUST CO. v. METROPOLITAN ST. RY. CO. et al. GUARANTEE TRUST CO. v. SAME.
• Court: U.S. District Court — Southern District of New York

161 F. 787

PENNSYLVANIA STEEL CO. et al. v. NEW YORK CITY RY. CO. et al.MORTON TRUST CO. v. METROPOLITAN ST. RY. CO. et al.GUARANTEE TRUST CO. v. SAME.

United States Circuit Court, S.D. New York.

March 30, 1908

Masten & Nichols, for receivers.

Bronson Winthrop, for Morton Trust Co.

Davies Stone & Auerbach, for Guarantee Trust Co.

LACOMBE Circuit Judge.

There seems to be a very urgent necessity for the issue of certificates to the amount asked for ($3,500,000), and the prayer of the petition is therefore granted.The certificates will be superior in lien to the two mortgages, viz., the general and collateral trust mortgage and the refunding mortgage.The certificates are to run for one year and to pay 6 per cent. semiannually.Details as to offering for sale may be arranged on...