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IN RE HUDSON & MANHATTAN RAILROAD COMPANY

No. 90460.

126 F.Supp. 359 (1954)

In the Matter of HUDSON & MANHATTAN RAILROAD COMPANY, Debtor.

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

December 1, 1954.

Attorney(s) appearing for the Case

House, Grossman, Vorhaus & Hemley and Edward M. Garlock, New York City, for petitioning creditors, Edward M. Garlock, New York City, of counsel.

Rosenman, Goldmark, Colin & Kaye, New York City, for debtor, Godfrey Goldmark, Harold I. Kahen, Gerald D. Roth, New York City, of counsel.

WALSH, District Judge.

Reorganization of the debtor has been sought by certain creditors under Chapter X of the Bankruptcy Act, 11 U. S.C.A. § 501 et seq., and by the debtor itself under Section 77 of that act, 11 U.S.C.A. § 205. It is my conclusion that the defendant is an interurban electric railway; that it is not operated as part of a general railroad system of transportation; and that it does not derive more than 50% of its operating revenue from freight...

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