Charlotte Klinger and Eric Klinger v. The Baltimore and Ohio Railroad Company, and Edward C. Rose

I agree with Chief Judge Lumbard’s conclusion that B & O violated a duty imposed upon it by Section 10 when it purchased Reading’s interest in the terminal land and facilities without competitive bidding. In addition, however, I would hold that Reading was damaged in that it received less than the fair market value for its interest. Nevertheless since I believe that the trial court underestimated the value of the consideration received by Reading, I would remand for recomputation of damages.

As Chief Judge Lumbard points out, Section 10 was enacted to insure that common carriers would be…