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N.Y. CENTRAL SECURITIES CO. v. U.S.

No. 5.

287 U.S. 12 (1932)

53 S.Ct. 45

77 L.Ed. 138

NEW YORK CENTRAL SECURITIES CORPORATION v. UNITED STATES ET AL.

Supreme Court of United States.

Decided November 7, 1932.

Attorney(s) appearing for the Case

Mr. Frederick A. Henry, with whom Messrs. Louis J. Vorhaus and Joseph Fischer were on the brief, for appellant.

Mr. Daniel W. Knowlton, with whom Solicitor General Thacher and Assistant to the Attorney General O'Brian were on the brief, for the United States and Interstate Commerce Commission, appellees.

Mr. Jacob Aronson, with whom Mr. Charles C. Paulding was on the brief, for the New York Central Railroad Company et al., appellees.

MR. CHIEF JUSTICE HUGHES delivered the opinion of the Court.

On July 2, 1929, the Interstate Commerce Commission made an order authorizing the New York Central Railroad Company to acquire control, by lease, of the railroad systems of the Cleveland, Cincinnati, Chicago & St. Louis Railway Company (known as the `Big Four') and of the Michigan Central Railroad Company. By order of December 2, 1929, the Commission permitted the assumption by the lessee of obligation...

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