People ex rel. Third Avenue Railway Co. v. Public Service Commission
New York Court of Appeals
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 21, 191.1, which annulled and set aside a determination of the defendant Public Service Commission denying an application for an order authorizing’ the Third Avenue Railway Company to issue certain stocks and bonds and remitted the matter to said commission to proceed as directed by the opinion of the court.
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Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 21, 191.1, which annulled and set aside a determination of the defendant Public Service Commission denying an application for an order authorizing’ the Third Avenue Railway Company to issue certain stocks and bonds and remitted the matter to said commission to proceed as directed by the opinion of the court. The facts, so far as material, and the questions certified are stated in the opinion. The Stock Corporation Law and the Public Service Commissions Law may…
1Opinion of the Court
Cullen, Ch. J.
' The road and property of the Third Avenue Bailroad Company (street railroad) was sold under foreclosure and at the sale was purchased by a committee of the bondholders. This purchase was made under, a plan entered into by the parties in interest, bondholders and stockholders, by which it was agreed that a new corporation should be formed and the securities of the new corporation distributed among the bondholders and stockholders of the old corporation in certain. proportions and on the payment of certain amounts in money. The securities—stocks and bonds ■—called for by the…
2Cases cited5 opinions
- People v. . O'BrienNew York Court of Appeals · 1888
- People Ex Rel. Delaware & Hudson Co. v. StevensNew York Court of Appeals · 1909
- People Ex Rel. Schurz v. CookSupreme Court of the United States · 1893
- People Ex Rel. Binghamton Light, Heat & Power Co. v. StevensNew York Court of Appeals · 1911
- Minor v. . Erie R.R. Co.New York Court of Appeals · 1902
3Cited by16 opinions
- Banton v. Belt Line Railway Corp.Supreme Court of the United States · 1925
- State v. New Hampshire Gas Electric Co.Supreme Court of New Hampshire · 1932
- Public Service Commission v. Consolidated Gas, Electric Light & Power Co.Court of Appeals of Maryland · 1925
- Peo. Ex Rel. N.Y.C. H.R.R.R. Co. v. . P.S. Comm.New York Court of Appeals · 1919
- People ex rel. Third Avenue Railroad v. State Board of Tax CommissionersAppellate Division of the Supreme Court of the State of New York · 1913
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