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Pennsylvania R. Co. v. Interstate Commerce Commission

June 16, 1933

PENNSYLVANIA R. CO. ET AL.
v.
INTERSTATE COMMERCE COMMISSION



Petition by the Pennsylvania Railroad Company and another to set aside an order of the Interstate Commerce Commission requiring petitioners to divest themselves of all the shares of capital stock of the Lehigh Valley Railroad Company and the Wabash Railway Company, which they own.

Author: Davis

Before WOOLLEY, DAVIS, and THOMPSON, Circuit Judges.

DAVIS, Circuit Judge.

This case is here on petition to set aside an order of the Interstate Commerce Commission requiring the Pennsylvania Railroad Company and the Pennsylvania Company, which is an investment company, whose stock is held by the railroad company, to divest themselves of all the shares of the capital stock of the Lehigh Valley Railroad Company and the Wabash Railway Company, which they own.

The par value of the total amount of outstanding capital stock of the Wabash Railway Company is:

Preferred A $69,333,050

Convertible Preferred B 2,462,132

Common 66,697,775

The par value of the shares of all classes of the stock is $100, and all classes have equal voting power.

The par value of the amount of the Wabash stock held by the Pennsylvania Company is:

Preferred A $31,290,000

Common 36,290,000

The par value of the total amount of outstanding stock of the Lehigh Valley ...


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