Pennsylvania Steel Co. v. New York City Ry. Co.
U.S. Circuit Court for the District of Southern New York
In Equity. On application to appoint separate receivers for the lessor and lessee roads, and counter application to continue the leasehold till the expiration of a year from first default in payment of the rent.
1Opinion of the Court
LACOMBE, Circuit Judge.
At the time when former memoranda were filed October 1, 1907 (157 Fed. 440), and January 7, 1908 (160 Fed. 222), the situation was such that the operation of the system might be continued by receivers of the New York City Company under the lease, and the rights of all interested preserved easily and efficiently by a subsequent accounting. The lease was then in force, and no suit to foreclose mortgage had been instituted. Now the situation is changed. A regular foreclosure suit for unpaid interest under the refunding mortgage has been instituted, and it is fitting that…
2Cases cited2 opinions
- Pennsylvania Steel Co. v. New York City Ry. Co.U.S. Circuit Court for the District of Southern New York · 1907
- Pennsylvania Steel Co. v. New York City Ry. Co.U.S. Circuit Court for the District of Southern New York · 1908
3Cited by2 opinions
- Guaranty Trust Co. of New York v. Metropolitan St. Ry. Co.U.S. Circuit Court for the District of Southern New York · 1909
- Pennsylvania Steel Co. v. New York City Ry. Co.U.S. Circuit Court for the District of Southern New York · 1910