United States v. Chicago North Shore & Milwaukee Railroad

This is a suit brought pursuant to § 12 (1) of the' Interstate Commerce Act, as amended, 1 to enjoin the appellee from issuing any securities or assuming any obligation or liability in respect of the securities of others' .without first having obtained an order from the Interstate Commerce Commission authorizing such action, as required by .§ 20a of the Act. 2 The petition avers appellee’s intention to issue or become guarantor of securities in violation of the last mentioned section.

The District Court,, after making detailed and elaborate . fact findings, concluded as matter of law that the…