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MATTER OF READING CO.

Bankruptcy No. 71-828.

2 B.R. 719 (1980)

In the Matter of READING COMPANY, Debtor.

United States District Court, E.D. Pennsylvania.

January 4, 1980.

Attorney(s) appearing for the Case

Howard H. Lewis, James A. Sox, Philadelphia, Pa., for petitioner.

William P. Quinn, Stephen R. Bolden, Nicholas J. Scafidi, Philadelphia, Pa., for respondent.

OPINION RE TRAILER TRAIN STOCK

DITTER, District Judge.

In 1955 a group of railroads, including the Reading Company, formed Trailer Train Company to purchase rail equipment for lease to member shareholders. Reading invested $150,000. and was issued 500 shares of the corporation's stock. Trailer Train has never paid any dividends; instead, it has reinvested its profits in additional equipment for the use of its shareholders. In 1971, Reading went into bankruptcy...

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