MATTER OF VALUATION PROCEEDINGS, ETC.

Attorney(s) appearing for the Case

William C. Lieblich, Washington, D. C., and Thomas B. Radom, Southfield, Mich. (Thomas S. Warrick and Pierson, Semmes, Crolius & Finley, Washington, D. C., David W. Berry, and Joseph S. Radom, P.C., Southfield, Mich., of counsel), for Trustee of the Ann Arbor R. Co.

Stanley Weiss, Newark, N. J. (Dean R. May and Carpenter, Bennett & Morrissey, Newark, N. J., of counsel), for Central Jersey Industries, Inc.

John N. Malyska, Newark, N. J., for Delaware and Bound Brook R. Co.

Harry G. Silleck, Jr., John L. Altieri, Jr., and Howard W. Goldstein, New York City (Peter W. Asher, Thomas G. Gallatin, Jr., Jack P. Adler, Harold G. Levison, Susan M. Schmedes, Frances E. Edwards, Douglas M. Parker, Frank T. Laznovsky, Robert A. Jaffe, Karen M. Cullen, Robert A. Cantor, and Mudge, Rose, Guthrie & Alexander, New York City, of counsel), for Trustees of the Erie Lackawanna Ry. Co.

John Michael Clear, St. Louis, Mo. (Stuart R. Warren, and Bryan, Cave, McPheeters & McRoberts, St. Louis, Mo., Harry G. Silleck, Jr., Peter W. Asher, John L. Altieri, Jr., and Mudge, Rose, Guthrie & Alexander, New York City, David C. Toomey, Jared I. Roberts, Richard C. Unger, Jr., Lewis R. Olshin, and Duane, Morris & Heckscher, Howard H. Lewis, James A. Sox, and Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., John Vanderstar, S. William Livingston, Jr., Carolyn F. Corwin, Arvid E. Roach II, and Covington & Burling, Washington, D. C., of counsel), for Joint Terminals Transferors.

Jack M. Zackin, Newark, N. J., for Receiver of the Lehigh and New England Ry. Co.

David C. Toomey, Philadelphia, Pa. (Jared I. Roberts, Richard C. Unger, Jr., Lewis R. Olshin, and Duane, Morris & Heckscher, Philadelphia, Pa., of counsel), for Trustee of the Lehigh Valley R. Co.

Thomas E. Tyre, New York City, for North Pennsylvania R. Co.

Charles I. Thompson, Jr., Philadelphia, Pa., for Philadelphia, Germantown & Norristown R. Co.

Howard H. Lewis, Philadelphia, Pa. (James A. Sox, Richard W. Vitaris, Robert F. Stewart, Jr., John J. Ehlinger, Jr., and Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., of counsel), for Reading Co. and Certain Affiliated Transferors.

William R. Perlik, Michael S. Helfer, Roger M. Witten, David R. Johnson, Eric A. Von Salzen, and Stephen C. Rogers, Washington, D. C. (Peter F. Rousselot, Robert H. Kapp, Joe Chartoff, George W. Miller, Gail Starling Marshall, George W. Mayo, Jr., Walter A. Smith, Jr., V. Mark J. Policy, William J. Cassidy, Jr., Ronald E. Stauffer, Cathy A. Simon, Wallace A. Christensen, Stephen A. Goldberg, David C. Kohler, Karen L. McClearycale, Ann Morgan Vickery, Kevin J. Wolff, George H. Mernick, Paul W. Nolan, Steven B. Rotman, R. Verne Bradford, and Hogan & Hartson, Henry T. Rathbun, Arthur Z. Gardiner, Jr., A. Douglas Melamed, Richard W. Cass, David M. Becker, William J. Perlstein, Stephen P. Doyle, John B. McNeece, III, Maury J. Mechanick, Bruce E. Coolidge, Marie N. Doland, Lauren B. Homer, Sheila Bihary, Joan S. Powers, Judith Barry Wish, and Wilmer, Cutler & Pickering, Cary W. Dickieson, Washington, D. C., Frazer C. Hilder, Detroit, Mich., David H. Siehl, David L. Prestemon, Barbara E. Sosnick, Larry C. Malski, Jonathan E. Pansius, and Mark H. Sidman, Railway Association, Washington, D. C., of counsel), for United States Ry. Assn.

Alice Daniel, Asst. Atty. Gen., John H. Broadley, Thomas S. Martin, and Jane A. Restani, Dept. of Justice, Washington, D. C., for United States of America.

Before FRIENDLY, Presiding Judge, and WISDOM and THOMSEN, Judges.

                       TABLE OF CONTENTS
Introduction                                          1199
I.         Procedural History                         1201
II.        Positions of the Parties                   1204
           A.  Joint Terminals                        1205
           B.  Penn Central                           1205
           C.  Erie Lackawanna                        1206
           D.  Lehigh Valley                          1207...

                    
                    
                    

                        

                            

                                

                            
                            

                                

                                    

                                        

                                        

                                        

                                    
                                
                                

                                    
Let's get started
                                
                                

                                    

                                    
                                    

                                    Welcome to the leading source of independent legal reporting 
                                    

                                        Sign on now to see your case. 
                                        

                                        Or view more than 10 million decisions and orders.
                                        
                                        

                                            
Updated daily.
                                            
Uncompromising quality.
                                            
Complete, Accurate, Current.
                                        
                                    
                                    
                                    
Subscribe
Now!