regional
rail
reorganization
act
cases
argued
october
decided
december
blanchette
et
trustees
property
penn
central
transportation
connecticut
general
insurance
et
al
smith
trustee
property
new
york
new
hartford
railroad
et
al
railway
assn
connecticut
general
insurance
et
al
et
al
connecticut
general
insurance
et
appeal
district
eastern
district
pennsylvania
comprehensive
solution
national
rail
crisis
precipitated
entry
reorganization
proceedings
bankruptcy
act
eight
major
railroads
northeast
midwest
region
country
congress
supplemented
regional
rail
reorganization
act
rail
act
railroad
reorganization
must
proceed
rail
act
unless
reorganization
within
specified
times
finds
railroad
reorganizable
income
basis
within
reasonable
time
public
interest
better
served
rather
rail
act
reorganization
rail
act
provide
process
fair
equitable
estate
railroad
reorganization
hereafter
railroad
rail
act
appeals
orders
provided
special
whose
decision
final
rail
act
establishes
government
corporation
railway
association
usra
directed
formulate
final
system
plan
plan
july
restructuring
railroads
financially
rail
service
system
plan
must
provide
transfer
designated
railroad
properties
consolidated
rail
conrail
private
corporation
return
conrail
securities
plus
million
federally
guaranteed
usra
obligations
benefits
accruing
railroad
transfer
plan
becomes
effective
neither
house
congress
disapproves
within
days
must
transmitted
special
exclusive
jurisdiction
proceedings
concerning
plan
within
days
deposit
conrail
securities
usra
obligations
special
must
order
railroad
trustee
convey
forthwith
conrail
railroad
properties
designated
plan
special
determines
appeal
extending
whether
conveyance
fair
equitable
railroad
estate
standards
whether
transfer
fair
equitable
constitutional
minimum
requires
case
necessary
adjustments
must
made
special
finds
conveyance
fair
equitable
must
reallocate
order
issuance
additional
conrail
securities
usra
obligations
enter
judgment
conrail
combine
remedies
railroads
may
discontinue
service
abandon
properties
designated
transfer
plan
plan
becomes
effective
may
discontinue
service
abandon
line
usra
consent
absent
reasonable
state
opposition
parties
interest
penn
central
transportation
penn
central
brought
suits
attacking
constitutionality
rail
act
contending
act
violates
fifth
amendment
taking
penn
central
property
without
compensation
grounds
conrail
securities
usra
obligations
benefits
constitutionally
required
equivalent
rail
properties
whose
transfer
compelled
conveyance
taking
issue
compels
continuation
rail
operations
pending
plan
implementation
even
erosion
beyond
constitutional
limits
penn
central
estate
occurs
interim
period
erosion
taking
issue
rejecting
conveyance
taking
issue
premature
view
number
decisional
steps
required
final
conveyance
district
held
erosion
taking
issue
premature
rejected
contention
usra
penn
central
trustees
constitutional
limit
permissible
uncompensated
erosion
passed
plaintiffs
adequate
remedy
law
tucker
act
gives
claims
jurisdiction
render
judgment
upon
claim
founded
either
upon
constitution
act
congress
district
finding
rail
act
precluded
tucker
act
remedy
therefore
declared
invalid
violating
fifth
amendment
extent
require
continued
operation
rail
services
loss
violation
constitutional
rights
owners
creditors
railroad
declared
invalid
extent
failed
compensate
interim
erosion
pending
final
implementation
plan
addition
injunctive
relief
district
enjoined
usra
certifying
plan
special
determined
provision
requiring
dismissal
certain
reorganization
proceedings
constitutionally
invalid
geographically
nonuniform
law
subject
bankruptcies
held
issue
availability
tucker
act
remedy
rail
act
effects
erosion
taking
ripe
adjudication
view
distinct
possibility
compelled
continued
rail
operations
penn
central
past
several
years
sustained
great
losses
reorganizable
income
basis
within
reasonable
time
injure
plaintiffs
without
assurance
plan
implemented
compensated
pp
tucker
act
remedy
barred
rail
act
available
provide
compensation
erosion
taking
effected
rail
act
pp
correct
issue
whether
congress
intended
prevent
recourse
tucker
act
district
held
whether
rail
act
affirmatively
manifests
congressional
intent
permit
recourse
pp
rail
act
provisions
relied
evincing
congressional
determination
federal
funds
beyond
expressly
committed
act
paid
rail
properties
equally
support
inference
congress
felt
rail
act
provided
least
minimum
compensation
gave
consideration
withdrawal
tucker
act
remedy
pp
section
rail
act
specifically
deals
statutes
inconsistent
rail
act
mention
tucker
act
legislative
history
supporting
argument
rail
act
construed
withdraw
tucker
act
remedy
pp
applicable
canons
construction
fortify
conclusion
rail
act
withdraw
tucker
act
remedy
pp
certain
basic
conveyance
taking
issues
ripe
adjudication
pp
since
district
opinion
special
reversed
penn
central
reorganization
determination
rail
act
provide
process
fair
equitable
estate
conveyance
taking
issues
must
decided
pp
implementation
rail
act
lead
inexorably
final
conveyance
though
exact
date
determined
special
must
order
conveyance
rail
properties
included
plan
since
conveyance
inevitable
relevant
issue
delay
transfer
occurs
pp
several
factors
militate
deferring
resolution
constitutional
issues
time
closer
occurrence
disputed
event
better
position
later
determine
validity
basic
issues
however
resolution
issues
involving
valuation
postponed
pp
reasons
obtained
respect
erosion
taking
issue
suit
claims
available
tucker
act
cash
award
cover
shortfall
consideration
railroads
receive
rail
properties
finally
conveyed
rail
act
constitutional
minimum
tucker
act
guarantees
adequate
remedy
law
taking
might
occur
result
provisions
rail
act
pp
plaintiffs
argument
tucker
act
remedy
inadequate
conveyance
taking
exercise
eminent
domain
power
requires
full
cash
payment
rail
properties
without
merit
rail
act
coupled
tucker
act
valid
reorganization
statute
constitute
eminent
domain
statute
virtue
provisions
federal
representation
conrail
board
directors
constitute
conrail
federal
instrumentality
provisions
conveyance
continuation
services
pending
plan
formulation
defects
act
provisions
judicial
review
pp
though
rail
act
differs
reorganization
statutes
mandating
conveyance
without
prior
judicial
finding
adequate
resources
reorganized
company
compensate
debtor
estates
eventually
creditors
recourse
tucker
act
suit
shortfall
provides
adequate
assurance
taking
compensated
pp
tucker
act
also
assures
railroad
estates
creditors
eventually
made
whole
assets
conveyed
thus
rail
act
deprive
plaintiffs
procedural
due
process
rail
act
contravene
uniformity
requirement
bankruptcy
clause
pp
holding
tucker
act
remedy
available
uncompensated
taking
rail
act
obviates
possibility
penn
central
reorganization
ever
confront
provision
dismissal
proceeding
rail
act
district
held
violative
bankruptcy
uniformity
requirement
pp
plaintiffs
argument
constitutional
bankruptcy
uniformity
violated
rail
act
restricted
single
statutorily
defined
region
lacks
merit
since
uniformity
requirement
preclude
congress
fashioning
legislation
resolve
geographically
isolated
problems
congress
acted
consistently
requirement
dealt
national
rail
crisis
centering
problems
rail
carriers
region
defined
rail
act
applied
rail
act
every
railroad
reorganization
throughout
pp
brennan
delivered
opinion
burger
white
marshall
blackmun
powell
rehnquist
joined
douglas
filed
dissenting
opinion
post
stewart
filed
dissenting
statement
post
solicitor
general
bork
argued
cause
et
al
briefs
assistant
attorney
general
hills
keith
jones
jerome
sharfman
lloyd
cutler
argued
cause
railway
assn
briefs
william
perlik
william
lake
jordan
jay
hillman
charles
horsky
argued
cause
blanchette
et
trustees
property
penn
central
transportation
briefs
brice
clagett
paul
duke
louis
craco
argued
cause
connecticut
general
insurance
et
al
briefs
frederic
ballard
walter
brown
thomas
bryan
david
berger
argued
cause
filed
briefs
penn
central
joseph
auerbach
argued
cause
smith
trustee
property
new
york
new
hartford
railroad
briefs
james
wm
moore
morris
raker
charles
morse
brockman
adams
argued
cause
filed
brief
certain
representatives
amici
curiae
urging
fn
briefs
amici
curiae
filed
israel
packel
attorney
general
gordon
macdougall
special
assistant
attorney
general
commonwealth
pennsylvania
david
maxwell
trustees
reading
john
donelan
national
industrial
traffic
league
justice
brennan
delivered
opinion
direct
appeals
judgment
district
eastern
district
pennsylvania
declared
regional
rail
reorganization
act
rail
act
stat
et
seq
supp
iii
unconstitutional
part
enjoined
enforcement
supp
noted
probable
jurisdiction
post
reverse
introduction
reorganization
railroad
reorganization
must
proceed
pursuant
rail
act
unless
district
jurisdiction
reorganization
finds
within
days
january
railroad
reorganizable
income
basis
within
reasonable
time
section
public
interest
better
served
reorganization
reorganization
chapter
within
days
january
finds
chapter
provide
process
fair
equitable
estate
railroad
reorganization
supp
iii
appeals
orders
may
taken
within
days
entry
special
constituted
supp
iii
must
decided
special
within
days
appeal
taken
section
expressly
provides
shall
review
decision
special
appellant
railway
association
usra
established
new
government
corporation
supp
iii
usra
must
prepare
final
system
plan
restructuring
railroads
reorganization
financially
rail
service
system
supp
iii
see
supp
iii
final
system
plan
must
provide
transfer
designated
rail
properties
railroads
reorganization
private
corporation
consolidated
rail
corporation
conrail
supp
iii
return
securities
conrail
plus
million
usra
obligations
guaranteed
benefits
accruing
railroad
reason
transfer
supp
iii
see
also
supp
iii
usra
must
submit
proposed
final
system
plan
congress
within
days
january
supp
iii
july
plan
becomes
effective
neither
house
congress
disapproves
within
continuous
session
days
submission
supp
iii
usra
required
transmit
plan
within
days
effective
date
special
given
exclusive
jurisdiction
proceedings
respect
final
system
plan
supp
iii
special
within
days
deposit
conrail
securities
usra
obligations
shall
order
trustee
trustees
railroad
reorganization
convey
forthwith
conrail
right
title
interest
rail
properties
railroad
reorganization
designated
final
system
plan
supp
iii
special
next
determines
whether
conveyances
rail
properties
conrail
public
interest
fair
equitable
estate
railroad
reorganization
accordance
standard
fairness
equity
applicable
approval
plan
reorganization
section
whether
transfers
conveyances
fair
equitable
required
constitutional
minimum
supp
iii
special
finds
transfer
fair
equitable
special
must
reallocate
order
issuance
additional
conrail
securities
usra
obligations
subject
overall
million
limitation
usra
obligations
purpose
enter
judgment
conrail
decree
combination
remedies
special
authorized
enter
judgment
section
provides
also
special
decides
consideration
exchanged
rail
properties
fair
equitable
required
constitutional
minimum
shall
make
necessary
adjustments
constitutional
minimum
exceeded
appeal
determinations
although
railroads
reorganization
subject
act
free
abandon
service
dispose
wish
rail
properties
designated
transfer
final
system
plan
supp
iii
plan
becomes
effective
none
may
discontinue
service
abandon
line
railroad
unless
authorized
usra
unless
affected
state
local
regional
transportation
authority
reasonably
opposes
action
ii
proceedings
district
persuaded
significant
possibility
exists
point
erosion
either
may
soon
reached
said
contention
plaintiffs
interim
unconstitutional
taking
continued
loss
operations
ripe
adjudication
persuaded
legislative
history
supports
conclusion
congress
intended
financial
obligations
limited
express
terms
act
article
section
clause
constitution
provides
money
shall
drawn
treasury
except
consequence
appropriation
made
law
section
rail
act
section
entitled
authorization
appropriations
place
express
ceiling
expenditures
section
describes
maximum
obligational
authority
usra
authorization
appropriation
limited
amounts
necessary
discharge
obligations
arising
section
emphasis
supplied
judicial
review
delineated
specificity
sections
mention
claims
null
void
violative
fifth
amendment
constitution
extent
require
continued
operation
rail
services
loss
violation
constitutional
rights
owners
creditors
railroad
taking
action
enforce
provisions
section
respect
abandonment
cessation
reduction
service
may
hereafter
determined
competent
jurisdiction
necessary
preservation
rights
guaranteed
constitution
null
void
contravening
fifth
amendment
insofar
fails
provide
compensation
interim
erosion
pending
final
implementation
final
system
plan
rail
act
also
challenged
district
uniform
within
requirement
art
cl
constitution
provides
congress
shall
power
enact
uniform
laws
subject
bankruptcies
throughout
district
dismissed
contention
without
merit
except
one
provision
section
provides
reorganization
determines
proceedings
act
provide
fair
equitable
process
reorganization
debtor
debtor
shall
reorganized
pursuant
act
reorganization
shall
dismiss
reorganization
proceeding
district
declared
part
null
void
violative
article
section
clause
enjoined
parties
enforcing
taking
action
implement
much
section
purports
require
dismissal
pending
proceedings
reorganization
section
bankruptcy
act
iii
issues
decision
special
speaking
judge
friendly
comprehensively
canvassed
issues
thorough
opinion
concluded
rail
act
bar
necessary
resort
tucker
act
remedy
remedy
adequate
independent
examination
issues
brings
us
conclusion
substantially
reasons
stated
judge
friendly
parts
vii
special
opinion
supp
also
disputed
district
ruling
uniformity
rail
act
bankruptcy
clause
hold
currently
operable
portions
act
uniform
iv
alleged
erosion
taking
difficulties
unforeseen
unanticipated
fact
delay
final
implementation
final
system
plan
example
congress
theory
successively
disapprove
several
proposed
final
system
plans
thus
whatever
probabilities
parties
absolute
assurance
plan
fact
implemented
within
reasonable
time
reason
determined
taking
property
interim
erosion
although
extremely
unlikely
remains
theoretical
possibility
rail
act
accordingly
believe
injunction
preventing
usra
denying
applications
discontinuance
service
section
circumstances
might
appropriate
unless
contend
remedy
otherwise
uncompensated
taking
available
tucker
act
therefore
persuaded
must
reach
decide
tucker
act
question
presented
appeals
omitted
availability
tucker
act
remedy
erosion
taking
claims
shall
jurisdiction
render
judgment
upon
claim
founded
either
upon
constitution
act
congress
regulation
executive
department
upon
express
implied
contract
liquidated
unliquidated
damages
cases
sounding
tort
district
made
wrong
inquiry
question
whether
rail
act
expresses
affirmative
showing
congressional
intent
permit
recourse
tucker
act
remedy
rather
whether
congress
rail
act
withdrawn
tucker
act
grant
jurisdiction
claims
hear
suit
involving
rail
act
founded
upon
constitution
agree
special
true
issue
whether
sufficient
proof
congress
intended
prevent
recourse
rail
act
admittedly
silent
point
issue
becomes
whether
scheme
rail
act
supplemented
legislative
history
sufficiently
evidences
congressional
intention
withdraw
remedy
otherwise
exist
turn
inquiry
whether
rail
act
withdrew
tucker
act
remedy
otherwise
exist
argument
read
rests
provisions
rail
act
said
plainly
evince
congress
determination
federal
funds
beyond
expressly
committed
act
paid
rail
properties
first
provision
referred
provides
impaneling
special
consolidation
judicial
proceedings
respect
final
system
plan
argument
attaches
significance
omission
authority
special
enter
judgment
reliance
also
placed
two
act
funding
provisions
section
captioned
maximum
obligational
authority
provides
aggregate
amount
usra
obligations
may
outstanding
one
time
shall
exceed
aggregate
amount
issued
conrail
shall
exceed
ny
modification
limitations
shall
made
joint
resolution
adopted
congress
section
explicitly
appropriates
secretary
transportation
pay
expenses
preparing
reports
exercising
functions
performed
chapter
appropriates
interstate
commerce
commission
use
carrying
functions
appropriates
usra
purposes
carrying
administrative
expenses
provisions
least
equally
support
inference
congress
convinced
huge
sums
provided
surely
equal
exceed
required
constitutional
minimum
never
focused
upon
possible
need
suit
claims
may
well
case
evident
statement
house
report
timely
implementation
final
system
plan
obstructed
controversy
payment
properties
committee
opinion
provisions
title
rail
act
especially
provision
deficiency
judgment
payment
obligations
usra
adequate
guarantee
creditors
bankrupt
railroad
receive
may
constitutionally
claim
view
extraordinary
protections
litigation
permitted
delay
final
system
plan
finally
manner
congress
supp
iii
expressly
addressed
rail
act
relationship
laws
plainly
implies
congress
gave
thought
consideration
withdrawal
tucker
act
remedy
section
provides
antitrust
laws
inapplicable
respect
action
taken
formulate
implement
final
system
plan
provides
provisions
interstate
commerce
act
bankruptcy
act
inapplicable
transactions
chapter
extent
necessary
formulate
implement
final
system
plan
whenever
provision
act
inconsistent
chapter
provides
provisions
section
title
national
environmental
policy
act
shall
apply
respect
action
taken
authority
chapter
effective
date
final
system
plan
yet
despite
clear
evidence
congress
aware
necessity
deal
expressly
inconsistent
laws
congress
nowhere
addresses
tucker
act
question
argued
uncertainty
scheme
text
rail
act
cleared
legislative
history
house
senate
discloses
congress
meant
rail
act
withdraw
jurisdiction
claims
tucker
act
contrary
read
legislative
history
disclosing
repeatedly
emphasized
belief
rail
act
provisions
compensation
rail
properties
assured
payment
constitutional
minimum
plainly
import
view
taxpayers
unduly
burdened
sums
provided
see
cong
rec
remarks
metcalfe
remarks
conte
also
senator
hartke
explanation
conference
report
senate
included
statement
nothing
continuing
mandate
rail
service
distinct
possibility
view
prior
action
congress
number
people
make
claim
government
sustained
claims
think
argument
support
reading
rail
act
withdraw
tucker
act
remedy
aided
colloquy
house
side
house
managers
bill
cong
rec
colloquy
even
concern
withdrawal
claims
jurisdiction
concerns
deficiency
judgment
conrail
powers
special
finally
reliance
put
upon
referred
subsequent
legislative
history
form
statements
congressmen
oversight
hearings
house
subcommittee
transportation
aeronautics
june
amicus
brief
filed
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act
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estate
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noted
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held
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assets
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properties
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held
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act
precludes
like
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proceedings
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debtors
within
region
covered
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act
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whether
district
correct
respect
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decision
district
penn
central
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order
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act
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hanover
national
bank
moyses
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act
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act
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surface
appeal
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merit
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flexibility
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provision
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upheld
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challenge
ground
capacity
bankruptcy
clause
meet
new
conditions
disclosed
result
tremendous
growth
business
development
human
activities
present
day
continental
illinois
nat
bank
trust
chicago
therefore
held
though
distinctive
statute
treating
railroad
bankruptcies
distinctive
special
problem
beyond
limit
congressional
power
uniformity
provision
deny
congress
power
take
account
differences
exist
different
parts
country
fashion
legislation
resolve
geographically
isolated
problems
problem
dealt
bankruptcy
clause
may
present
significant
variations
different
parts
country
wright
vinton
branch
therefore
agree
special
uniformity
clause
intended
hobble
congress
forcing
nationwide
enactments
deal
conditions
calling
remedy
certain
regions
national
rail
transportation
crisis
produced
rail
act
centered
problems
rail
carriers
operating
region
defined
act
problems
congress
addressed
railroad
reorganization
proceeding
within
meaning
rail
act
pending
outside
defined
region
effective
date
act
period
following
statute
effective
date
thus
rail
act
fact
operates
uniformly
upon
bankrupt
railroads
operating
uniformly
respect
creditors
railroads
uniformity
clause
requires
rail
act
apply
equally
creditors
debtors
plainly
act
fulfills
requirements
vanston
bondholders
protective
committee
green
frankfurter
concurring
provision
act
restricts
right
creditor
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located
obtain
relief
regionalism
construction
bankruptcy
clause
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provision
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construction
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provisions
constitution
head
money
cases
involved
levy
ships
agents
owners
tax
passenger
citizen
entered
american
port
foreign
port
steam
sail
vessel
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engaged
transporting
passengers
holland
challenged
levy
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art
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congress
empowered
lay
collect
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imposts
excises
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clause
also
levied
noncitizen
passengers
entering
country
rail
inland
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conveyance
upheld
tax
stating
tax
uniform
operates
force
effect
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place
subject
found
tax
case
uniform
operates
precisely
alike
every
port
passengers
landed
reversed
footnotes
rail
act
defines
region
maine
new
hampshire
vermont
massachusetts
connecticut
rhode
island
new
york
new
jersey
pennsylvania
delaware
maryland
virginia
west
virginia
ohio
indiana
michigan
illinois
district
columbia
portions
contiguous
located
rail
properties
owned
operated
railroads
business
primarily
aforementioned
jurisdictions
determined
interstate
commerce
commission
order
supp
iii
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order
ex
parte
approved
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near
louisville
louis
mo
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manitowoc
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reg
addition
penn
central
railroads
reading
reading
bky
ed
erie
lackawanna
erie
lackawanna
nd
ohio
central
new
jersey
central
new
jersey
lehigh
valley
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valley
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ed
boston
maine
boston
maine
bky
mass
ann
arbor
ann
arbor
bky
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lehigh
hudson
river
lehigh
hudson
river
sdny
following
lessors
leased
lines
penn
central
also
filed
petitions
district
eastern
district
pennsylvania
bky
new
jersey
railroad
canal
beech
creek
railroad
cleveland
cincinnati
chicago
louis
railway
cleveland
pittsburgh
railroad
connecting
railway
delaware
railroad
erie
pittsburgh
railroad
michigan
central
railroad
northern
central
railway
penndel
philadelphia
baltimore
washington
railroad
philadelphia
trenton
railroad
pittsburgh
youngstown
ashtabula
railway
pittsburgh
fort
wayne
chicago
railway
union
railroad
baltimore
included
emergency
rail
services
act
stat
et
authorized
secretary
transportation
guarantee
million
certificates
issued
trustees
railroads
reorganization
found
inter
alia
threat
imminent
cessation
essential
rail
services
practicable
means
meeting
expenses
necessary
continue
services
issuance
guaranteed
certificates
erie
lackawanna
boston
maine
reorganization
courts
determined
railroad
recognizable
income
basis
within
reasonable
time
reorganization
railroads
proceed
rail
act
erie
lackawanna
supp
nd
ohio
boston
maine
supp
mass
three
reorganization
courts
found
rail
act
provide
process
fair
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estates
railroads
jurisdiction
penn
central
trans
supp
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lehigh
valley
supp
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penn
central
trans
secondary
debtors
supp
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central
new
jersey
supp
nj
lehigh
hudson
river
supp
sdny
special
established
see
infra
september
reversed
orders
cases
directed
reorganization
rail
act
supp
two
reorganization
courts
held
rail
act
provide
fair
equitable
process
ordered
reorganization
proceed
rail
act
reading
supp
ed
ann
arbor
supp
ed
section
provides
pertinent
part
within
days
january
usra
shall
make
application
judicial
panel
litigation
authorized
section
title
consolidation
single
district
judicial
proceedings
respect
final
system
plan
proceedings
shall
conducted
special
shall
composed
three
federal
judges
shall
selected
panel
special
authorized
exercise
powers
district
judge
judicial
district
respect
proceedings
powers
shall
include
reorganization
special
shall
power
order
conveyance
rail
properties
railroads
leased
operated
controlled
railroad
reorganization
region
judicial
panel
multidistrict
litigation
selected
circuit
judge
henry
friendly
circuit
judge
carl
mcgowan
district
judge
roszel
thomsen
compose
special
section
provides
follows
designation
rail
properties
final
system
plan
designations
final
system
plan
shall
designate
rail
properties
railroads
reorganization
region
railroads
leased
operated
controlled
railroad
reorganization
region
shall
transferred
conrail
shall
offered
sale
profitable
railroad
operating
region
offer
accepted
operated
railroad
plan
shall
designate
additions
shall
made
designation
subparagraph
paragraph
event
profitable
railroad
fails
accept
offer
shall
purchased
leased
otherwise
acquired
conrail
national
railroad
passenger
corporation
may
purchased
leased
conrail
state
local
regional
transportation
authority
meet
needs
commuter
intercity
rail
passenger
service
otherwise
required
operated
conrail
government
entity
responsible
person
suitable
use
public
purposes
including
highways
forms
transportation
conservation
energy
transmission
education
health
care
facilities
recreation
rail
properties
profitable
railroads
operating
region
may
offered
sale
conrail
profitable
railroads
operating
region
subject
paragraphs
subsection
section
section
provides
follows
respecting
transfers
conrail
transfers
transfers
conveyances
pursuant
final
system
plan
shall
made
accordance
subject
following
principles
rail
properties
transferred
conrail
profitable
railroad
trustees
railroad
reorganization
railroad
leased
operated
controlled
railroad
reorganization
region
shall
transferred
exchange
stock
securities
conrail
including
obligations
usra
benefits
accruing
railroad
reason
transfer
sections
provide
respects
federal
funds
follows
maximum
obligational
authority
except
otherwise
provided
last
sentence
subsection
aggregate
amount
obligations
usra
issued
section
may
outstanding
one
time
shall
exceed
aggregate
amount
issued
conrail
shall
exceed
aggregate
amount
obligations
issued
conrail
usra
less
shall
available
solely
rehabilitation
modernization
rail
properties
acquired
conrail
chapter
disposed
conrail
pursuant
section
title
modification
limitations
set
forth
subsection
shall
made
joint
resolution
adopted
congress
supp
iii
emergency
assistance
secretary
authorized
pending
implementation
final
system
plan
pay
trustees
railroads
reorganization
sums
necessary
continued
provision
essential
transportation
services
railroads
payments
shall
made
secretary
upon
reasonable
terms
conditions
secretary
establishes
except
recipients
must
agree
maintain
provide
service
level
less
effect
january
authorization
appropriations
authorized
appropriated
secretary
carrying
section
sums
necessary
exceed
remain
available
expended
supp
iii
secretary
transportation
authorized
appropriated
secretary
purposes
preparing
reports
exercising
functions
performed
chapter
sums
necessary
exceed
remain
available
expended
office
authorized
appropriated
interstate
commerce
commission
use
office
carrying
functions
chapter
sums
necessary
exceed
remain
available
expended
association
authorized
appropriated
usra
purposes
carrying
administrative
expenses
chapter
sums
necessary
exceed
remain
available
expended
supp
iii
prior
date
upon
rail
properties
conveyed
conrail
chapter
secretary
approval
usra
authorized
enter
agreements
railroads
reorganization
region
railroads
leased
operated
controlled
railroads
reorganization
acquisition
maintenance
improvement
railroad
facilities
equipment
necessary
improve
property
final
system
plan
agreements
entered
pursuant
section
shall
specifically
identify
type
quality
improvements
made
pursuant
agreements
notwithstanding
section
title
usra
shall
issue
obligations
section
title
amount
sufficient
finance
agreements
shall
require
conrail
assume
obligations
however
usra
may
issue
obligations
section
aggregate
amount
excess
supp
iii
period
days
provided
extended
days
pub
stat
effective
concerning
congressional
review
final
system
plan
provides
general
board
directors
usra
shall
deliver
final
system
plan
adopted
usra
houses
congress
committee
interstate
foreign
commerce
house
representatives
committee
commerce
senate
final
system
plan
shall
deemed
approved
end
first
period
calendar
days
continuous
session
congress
date
transmittal
unless
either
house
representatives
senate
passes
resolution
period
stating
favor
final
system
plan
revised
plan
either
house
senate
passes
resolution
disapproval
subsection
section
usra
cooperation
assistance
secretary
office
shall
prepare
determine
adopt
revised
final
system
plan
revised
plan
shall
submitted
congress
review
pursuant
subsection
section
computation
purposes
section
continuity
session
congress
broken
adjournment
sine
die
days
either
house
session
adjournment
days
day
certain
excluded
computation
period
supp
iii
section
provides
appeal
finding
determination
entered
pursuant
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section
may
appealed
directly
manner
injunction
order
may
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section
title
provided
appeal
exclusive
shall
filed
days
finding
determination
entered
special
shall
dismiss
appeal
within
days
entry
appeal
determines
appeal
interest
expeditious
conclusion
proceedings
shall
grant
highest
priority
determination
appeals
determines
dismiss
required
consider
case
validity
attempted
congressional
regulation
disposition
appeal
judgment
entered
special
pursuant
subsection
suits
brought
major
creditors
sole
shareholder
penn
central
penn
central
product
merger
pennsylvania
railroad
new
york
central
railroad
merger
cases
condition
merger
penn
central
promise
take
new
york
new
hartford
railroad
operating
entity
promise
fulfilled
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inclusion
cases
penn
central
operation
dominates
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nation
manufacturing
plants
employing
country
industrial
employees
freight
cars
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pass
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track
penn
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traffic
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railroads
rail
service
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fed
reg
hereinafter
since
penn
central
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lines
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revenues
six
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act
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failed
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anticipated
savings
penn
central
entered
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proceedings
two
years
merger
approved
huge
operating
losses
made
reorganization
inevitable
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financial
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central
company
sec
staff
report
penn
central
trustees
report
february
concerning
premises
reorganization
joint
documentary
submission
concluded
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lend
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authority
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hand
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pass
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investors
parties
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report
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properties
date
conveyance
house
report
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contains
limitation
conference
report
sess
makes
mention
deletion
passage
yearsley
indicates
government
action
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private
property
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act
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hence
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claims
hooe
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sawyer
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hartke
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haworth
maryland
casualty
pacific
coal
oil
joint
refugee
committee
mcgrath
frankfurter
concurring
ashwander
tva
brandeis
concurring
poe
ullman
judge
fullam
disagreed
majority
ripeness
issues
among
things
observed
validity
provisions
inextricably
interwoven
issues
concerning
interim
erosion
address
suggested
supra
constitutionality
requiring
deficit
railroad
operations
railroad
reorganization
may
depend
part
upon
likelihood
successful
reorganization
provisions
final
conveyance
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unconstitutional
little
likelihood
reorganization
might
necessary
permit
immediate
abandonment
reason
alone
believe
unlike
judge
fullam
tucker
act
available
compensate
unconstitutional
taking
might
arise
interim
erosion
see
supra
however
observation
interrelationship
erosion
taking
conveyance
taking
issues
still
pertinent
entirely
clear
reorganization
take
place
act
conveyance
provisions
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might
pointless
permit
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erosion
estate
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buildup
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tucker
act
claim
thus
decide
whether
portions
act
severely
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provisions
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require
resolution
juncture
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reasons
need
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whether
confront
anyway
order
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provisions
might
appropriate
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circumstances
decide
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ripe
remand
district
determination
merits
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act
provides
strict
timetable
implementation
delay
occasioned
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district
seriously
impede
timetable
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accomplishment
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act
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fully
ventilated
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decide
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rail
properties
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central
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plan
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act
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central
system
holds
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percentage
trackage
see
supra
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act
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rail
properties
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system
plan
without
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possibility
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goals
act
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supp
iii
act
contemplate
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system
plan
rail
properties
may
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transfer
existing
profitable
railroads
supp
iii
transfer
occur
unless
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railroad
agrees
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substantial
portion
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properties
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properties
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provides
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provision
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final
system
plan
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review
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system
plan
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effective
section
title
may
reviewed
respect
matters
concerning
value
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properties
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consideration
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properties
section
commands
within
days
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plan
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shall
order
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section
provides
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enjoined
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properties
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whether
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conveyances
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interest
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equitable
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added
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statutory
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final
system
plan
presented
congress
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review
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bill
contained
provision
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read
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order
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found
fair
equitable
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provision
deleted
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fundamentally
odds
senate
bill
intent
expressed
senate
committee
report
cited
text
infer
therefore
provision
eliminated
conference
precisely
make
clear
order
conveyance
mandatory
litigation
concerning
valuation
occur
transfer
see
conf
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except
certain
provisions
pertinent
final
bill
follows
senate
version
implementation
scheme
subject
technical
clarifying
changes
emphasis
added
reason
decisions
concerning
justiciability
cases
apprehended
criminal
prosecution
pertinent
decision
instigate
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prosecution
usually
discretionary
prosecuting
authorities
even
person
settled
intention
disobey
law
never
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sanctions
law
invoked
whether
injury
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extent
within
control
complaining
party
since
decide
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intention
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reasons
maturity
disputes
resolution
prosecution
begins
decided
basis
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likelihood
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certainty
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take
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form
present
injury
occasioned
threat
prosecution
likelihood
prosecution
actually
ensue
compare
golden
zwickler
albertson
sacb
steffel
thompson
final
system
plan
become
effective
disapproved
either
house
congress
within
calendar
days
continuous
session
time
transmitted
congress
may
still
changed
usra
unable
execute
agreements
profitable
railroads
purchases
reorganized
railroads
within
days
effective
date
sales
conrail
profitable
railroads
within
days
effective
date
thus
possible
final
system
plan
certified
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known
days
effective
date
plan
plan
must
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within
days
effective
date
however
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earlier
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may
jurisdiction
derived
constitution
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convey
terms
transfer
clearly
unconstitutional
see
supra
special
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review
hasty
made
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adequate
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stage
theoretical
possibility
afford
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opportunity
present
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decision
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facts
see
also
infra
house
bill
attempted
define
valuation
theory
applied
rail
properties
conveyed
see
however
definition
fair
equitable
value
rail
act
adopted
new
trustee
contention
conveyance
provisions
constitute
taking
mandate
continuation
rail
services
indefinitely
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premised
upon
hypothetical
relationship
railroad
liquidation
value
highest
best
use
value
going
concern
values
stipulation
unknown
proper
method
valuing
railroad
properties
justifiable
also
contended
tucker
act
inadequate
since
congress
may
appropriate
money
awarded
claims
justice
harlan
wrote
seems
sound
reason
claims
may
rely
good
faith
glidden
zdanok
see
also
albert
hanson
lumber
clark
reject
well
suggestion
tucker
act
remedy
comes
late
see
hurley
kincaid
interest
award
runs
date
taking
see
point
hotel
finally
contrary
suggestion
plaintiffs
see
reason
tucker
act
remedy
inadequate
valuations
involved
may
complex
cf
phillips
commissioner
arguments
concerning
inadequacy
tucker
act
remedy
pressed
regard
alleged
erosion
taking
alleged
conveyance
taking
availability
tucker
act
remedy
see
supra
distinction
arguments
resolutions
two
contexts
delay
claims
adjudication
respect
form
consideration
provided
act
exceedingly
irresponsible
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contemplate
taking
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remedy
suggest
congress
might
wish
consider
whether
abandon
whole
act
turned
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rail
properties
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least
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complaining
parties
agree
extent
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rail
estates
paid
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usra
backed
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guarantees
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figured
face
value
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reply
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new
trustee
brief
appellee
penn
central
see
rule
compensation
may
later
direct
relevance
penn
central
reorganization
act
provides
determination
fairness
equity
terms
transfer
take
account
securities
benefits
emphasis
added
provided
railroad
estate
see
also
parties
disagree
benefits
may
act
extent
may
counted
constitutional
consideration
particular
dispute
whether
sums
benefits
paid
conrail
reimbursement
certain
labor
expenses
benefits
counted
evaluating
exchange
see
supp
iii
reasons
given
supra
respect
valuation
problems
issue
presently
premature
claim
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made
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form
compensation
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amendment
legislature
specify
form
compensation
must
leave
decision
judiciary
argument
based
upon
erroneous
reading
monongahela
navigation
monongahela
held
legislature
setting
either
fixed
amount
paid
property
condemned
principle
arriving
amount
settle
constitutional
right
compensation
thus
monongahela
restate
general
principle
courts
legislature
ultimately
entrusted
assuring
compliance
constitutional
commands
said
nothing
whether
congress
dictate
mode
compensation
rather
amount
section
provides
board
directors
board
directors
conrail
shall
consist
individuals
selected
accordance
articles
bylaws
conrail
provided
long
per
centum
determined
secretary
treasury
outstanding
indebtedness
conrail
consists
obligations
usra
debts
owing
guaranteed
three
members
board
shall
secretary
transportation
chairman
president
usra
five
members
board
shall
individuals
appointed
president
advice
consent
senate
attempt
made
distinguish
provisions
provides
vote
classes
creditors
reorganization
determined
plan
fair
equitable
permitted
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finds
objection
class
creditors
reasonably
justified
creditors
right
object
plan
approved
severely
limited
scope
plan
gives
fair
equitable
treatment
dissenters
elements
make
plan
fair
equitable
basis
reasonably
justified
rejection
rfc
denver
reasonable
objection
must
based
upon
facts
arising
original
approval
plan
ibid
omission
rail
act
limited
right
objection
constitute
act
eminent
domain
statute
continental
bank
expressly
notes
represent
limits
bankruptcy
power
none
parties
question
taking
effected
rail
act
public
use
cf
berman
parker
observed
unusual
railroads
receive
disparate
treatment
bankruptcy
laws
railway
corporations
definitely
excluded
operation
law
stat
probably
corporations
liquidated
ordinary
way
distribution
assets
railway
unit
divided
disposed
piecemeal
like
stock
goods
must
sold
sold
unit
going
concern
activities
halted
continuous
uninterrupted
operation
necessary
public
interest
preservation
interest
well
protection
various
private
interests
involved
reorganization
evidently
regarded
feasible
solution
whenever
corporation
become
insolvent
unable
meet
debts
mature
justice
douglas
dissenting
cases
created
merger
cases
hydraulic
pressure
justice
holmes
said
makes
previously
clear
seem
doubtful
even
well
settled
principles
law
bend
rule
law
moral
order
measure
responsibility
always
assumed
hold
rail
act
january
stat
et
seq
supp
iii
undertakes
sanction
fraudulent
conveyance
words
used
bankruptcy
act
reluctant
conclude
implicating
legislative
branch
lawless
maneuver
gigantic
proportions
baldly
put
present
law
tour
de
force
end
article
constitution
bars
passing
law
impairing
obligation
contracts
though
federal
government
enjoined
restrained
fifth
amendment
provides
person
deprived
property
without
due
process
law
assume
conceded
congress
apart
bankruptcy
power
art
may
impair
obligation
contracts
without
violating
due
process
clause
bankruptcy
power
like
great
substantive
powers
congress
subject
fifth
amendment
justice
brandeis
writing
louisville
bank
radford
held
mean
far
rail
carriers
concerned
creditors
exact
pound
flesh
dismembering
liquidating
debtor
public
interest
may
subverted
manner
said
continental
illinois
nat
bank
trust
chicago
case
involving
rail
reorganization
bankruptcy
act
railway
unit
divided
disposed
piecemeal
like
stock
goods
must
sold
sold
unit
going
concern
activities
halted
continuous
uninterrupted
operation
necessary
public
interest
property
taken
public
use
within
meaning
fifth
amendment
first
mandate
congress
rail
act
provides
obligatory
transfer
assets
companies
conrail
creditors
trustees
stockholders
reorganization
judge
option
record
makes
abundantly
clear
parties
concede
conrail
though
dubbed
corporation
act
supp
iii
shows
prospect
enterprise
operating
profitable
basis
penn
central
losses
june
december
million
reorganization
whose
judgment
reviewing
found
reorganization
income
basis
possible
values
ride
today
decisions
therefore
based
prospect
future
profitable
operations
consideration
framework
act
provides
compensation
taking
form
securities
conrail
supp
iii
securities
common
stock
value
insofar
conrail
viable
entity
generates
income
excess
costs
fixed
charges
trustees
bankruptcy
act
make
ends
meet
reason
expect
conrail
conrail
sure
made
eligible
receive
obligations
railway
association
usra
incorporated
nonprofit
association
created
act
issue
obligations
exceeding
guaranteed
secretary
treasury
supp
iii
one
billion
half
one
billion
issued
conrail
one
billion
less
shall
available
solely
rehabilitation
modernization
rail
properties
hence
million
might
apportioned
plan
creditors
special
determines
supp
iii
value
securities
given
creditors
exchange
property
pledged
prior
law
payment
claims
less
fair
value
properties
conveyed
special
three
things
reallocate
securities
issued
require
conrail
issue
additional
securities
enter
deficiency
judgment
conrail
common
stock
conrail
plainly
token
payment
issuance
new
different
securities
conrail
interest
dividend
rights
marketable
bring
back
play
forces
plague
present
trustees
securities
issued
conrail
must
minimize
actual
potential
debt
burden
conrail
supp
iii
moreover
rail
act
provides
long
half
debt
conrail
guaranteed
government
majority
directors
designated
outside
secretary
transportation
chairman
president
usra
five
others
named
president
consent
senate
one
read
rail
act
believe
congress
thought
federal
money
going
conrail
made
subordinate
debt
created
conrail
contrary
assumption
make
purpose
quite
superfluous
yet
unless
conrail
new
debt
serviced
marketed
even
add
element
value
compensation
received
creditors
railroads
reorganization
plan
upshot
compensation
properties
acquired
conrail
mostly
paid
conrail
stock
sprinkling
bonds
association
issued
conrail
assuming
expended
operations
conrail
time
started
operation
date
final
plan
reorganization
value
properties
transferred
yet
determined
held
new
inclusion
cases
new
road
shut
assets
sold
compensation
measured
highest
best
value
assets
sold
case
value
liquidation
value
light
findings
reorganization
courts
present
cases
say
million
federally
guaranteed
bonds
comes
anywhere
near
reasonably
assured
value
value
substantial
amount
attributed
common
stock
conrail
problems
existing
roads
inherited
conrail
prospects
generating
income
excess
costs
fixed
charges
nil
remote
irony
call
entry
deficiency
judgment
conrail
adequate
make
deficiency
judgment
eat
away
value
common
stock
conrail
vicious
character
legislative
decisions
emphasized
provision
rail
act
proceedings
provision
prevent
one
class
holdup
fair
equitable
plan
section
however
allows
first
finds
plan
fair
equitable
security
holders
hearing
rail
act
assets
first
transferred
conrail
even
special
made
fair
equitable
finding
moreover
security
holders
never
vote
plan
congress
lowered
procedural
barriers
foisted
rail
carriers
conveyance
assets
done
private
parties
control
bankrupt
estate
fraudulent
conveyance
achieved
congress
purporting
act
public
interest
taking
public
purpose
fifth
amendment
standards
taking
property
without
assurance
compensation
ii
relies
parties
seek
sustain
statute
assumed
availability
suit
claims
tucker
act
recover
shortfall
fair
liquidation
value
compensation
bankrupt
roads
receive
rail
act
solicitor
general
initially
arguing
judgment
reversed
without
reaching
tucker
act
question
pitches
argument
support
statute
chiefly
upon
availability
tucker
act
suit
tucker
act
confers
jurisdiction
claims
render
judgment
upon
claim
founded
either
upon
constitution
act
congress
regulation
executive
department
upon
express
implied
contract
liquidated
unliquidated
damages
cases
sounding
tort
act
provides
strict
timetable
bringing
conrail
operation
usra
expected
present
final
system
plan
congress
within
days
enactment
rail
act
plan
deemed
approved
unless
congress
specifically
disapproves
within
specified
period
plan
approved
usra
must
certify
special
within
days
within
days
certification
conrail
must
deposit
stock
securities
special
must
direct
conveyance
properties
conrail
pursuant
plan
within
days
thereafter
congress
plainly
sought
expedition
process
creating
conrail
apparently
reason
deferring
transfer
properties
question
valuation
distribution
stock
contributing
railroads
policy
expedition
carries
provisions
judicial
participation
process
appeals
decisions
reorganization
district
courts
concerning
inclusion
debtor
roads
provisions
rail
act
lie
exclusively
special
decision
appeals
must
made
within
days
supp
iii
final
system
plan
approved
congress
act
supp
iii
provides
consolidation
special
judicial
proceedings
respect
final
system
plan
decision
special
regarding
distribution
conrail
stock
securities
pursuant
appealable
directly
directed
give
appeal
highest
priority
even
dismiss
within
seven
days
conclude
pendency
interest
expeditious
conclusion
proceedings
suit
claims
quite
odd
appendage
streamlined
judicial
procedures
described
language
vesting
special
judicial
proceedings
respect
final
system
plan
immediately
raises
doubt
tucker
act
remedy
compatible
act
doubt
amplified
one
looks
entire
scheme
judicial
participation
think
congress
setting
special
consolidating
proceedings
limiting
appeals
demanding
expeditious
decisions
intended
time
permit
yet
another
round
litigation
compensation
question
begin
claims
procedures
mandated
rail
act
exhausted
despite
obvious
frustration
policy
expedition
inference
tucker
act
remedy
available
might
still
justified
special
features
compensation
arrangement
limit
infusion
federal
funds
seen
features
important
congress
circumvented
suit
claims
allowed
special
directed
transfer
conrail
right
title
interest
properties
contributing
roads
designated
final
system
plan
must
determine
whether
transfers
property
bankrupt
roads
fair
equitable
estate
special
limited
tools
rectifying
unfairness
inequity
finds
limitations
powers
quite
clearly
indicate
congressional
intent
limit
commitment
federal
funds
preferred
form
compensation
debtor
roads
stock
conrail
stock
insufficient
special
may
next
order
distribution
obligations
conrail
limited
face
value
million
absent
authorization
joint
resolution
congress
exceed
limitation
shortfall
remains
distribution
stock
obligations
special
directed
enter
deficiency
judgment
conrail
judgment
corporation
apparent
purpose
protecting
treasury
liability
unanticipated
magnitude
representative
adams
one
principal
architects
rail
act
house
explained
specific
assurances
federal
exposure
sought
early
debate
bill
adams
specific
limitation
final
bill
says
million
later
raised
million
government
loan
guarantees
used
acquisition
event
years
come
higher
value
judgment
new
corporation
new
case
placed
kind
position
loads
new
corporation
debt
structure
requiring
issue
additional
bonds
lowers
value
common
stock
paid
terms
assets
ruppe
deliver
stock
seems
reading
language
cause
corporation
securities
issued
payment
properties
value
fair
equitable
value
determined
adams
correct
corporation
taxpayers
money
cong
rec
hold
tucker
act
remedy
available
first
leave
compensation
security
holders
wholly
speculative
chances
congress
might
grant
second
deprive
congress
opportunity
choose
since
bankrupt
estates
permitted
obtain
deficiency
judgment
proceedings
rail
act
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