American Steel & Iron Co. v. L. B. Foster Co.

Hasbrouck,

Official Referee. The automobile dominates much of our commercial life. It has put most of our street railways out of business. The railway which ran in and along the highway from the city of Hudson to the village of Rensselaer was one which succumbed to that dominance. That railway was owned by the Eastern New York Utilities Corporation. December 11, 1930, it sold, among other things, its rails and angle bars to the plaintiff in this action, the American Steel and Iron Co., under a contract, one of the terms of which was that when every ton of rails was moved from the roadbed to…