In re Central of Georgia Ry. Co.

LOVETT, District Judge.

The question to be decided is whether the proceeds derived from the abandonment and sale of a part of a “mortgage division” of the debtor shall be distributed now to the bondholders secured by the divisional mortgage, or shall be retained by the trustee under the Mortgage Indenture, in whose custody the fund was placed subject to the control of the court, until the equities of the many parties at interest in this proceeding have been adjusted and a “fair and equitable” plan of reorganization of the railway company has been submitted to the court.

A history of the case,…