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SOUTHERN CAPITAL CORP. v. SOUTHERN PAC. CO.

No. 77-1428.

568 F.2d 590 (1978)

SOUTHERN CAPITAL CORPORATION, Appellant, v. SOUTHERN PACIFIC COMPANY, Southern Pacific Transportation Company, Morgan Guaranty Trust Company of New York, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided January 11, 1978.

Attorney(s) appearing for the Case

James F. O'Hara, Little Rock, Ark., for appellant; W. P. Hamilton, Little Rock, Ark., on brief.

Robert V. Light, Little Rock, Ark., for appellees and on brief for Southern Pacific Co. and Southern Pacific Trans. Co.; James W. B. Benkard and James L. Kerr, New York City, Alston Jennings and W. J. Williams, Jr., Little Rock, Ark., on brief for Morgan Guaranty Trust Co. of New York.

Before VAN OOSTERHOUT, Senior Circuit Judge, and LAY and STEPHENSON, Circuit Judges.

STEPHENSON, Circuit Judge.

Southern Capital Corporation is the owner of 175 of Southern Pacific Company's $10,000 bonds due on March 1, 1977. The bonds were issued under and pursuant to a mortgage and deed of trust dated March 1, 1927, between Southern Pacific Company and The National Bank of Commerce in New York, as trustee. Southern Pacific Transportation Company is the successor in interest to Southern Pacific Company. Morgan Guaranty Trust Company of New York...

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