EDWIN F. HUNTER, Jr., District Judge:
Port Arthur Towing Company (PATCO), having acquired the rights emanating from a lease contract of October, 1953, brings this action against Owens-Illinois (the owner of the land), seeking a declaratory judgment that the lease is now in full force and effect. The land affected comprises 20 acres fronting on the Calcasieu River. It was vacant and unimproved in 1953, but the original lessee constructed a valuable shipyard facility...
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