Illinois Central Railroad Company, Cross-Appellant v. Texas Eastern Transmission Corporation, Cross-Appellee

ON PETITION FOR REHEARING

Before WISDOM, CLARK and RONEY, Circuit Judges. RONEY, Circuit Judge:

The Illinois Central Railroad, a plaintiff below and cross-appellant in this Court, has petitioned for a rehearing on that portion of our judgment affirming the denial of prejudgment interest. We held that the demurrage recovered was “fairly a penalty” so that denial of pre judgment interest was not error. Illinois Central R.R. Co. v. Texas Eastern Transmission Corp., 533 F.2d 272, 275 (5th Cir. 1976). The railroad argues that we misconstrued the nature of the demurrage charges under federal law and…