Schwabacher et al. v. United States et al. (334 U.S. 182)
U.S. Supreme Court · decided May 3, 1948 · Supreme Court Database (Spaeth)
- Citation
- 334 U.S. 182 · 68 S. Ct. 958
- Docket
- No. 258
- Argued
- January 6, 1948
- Decided
- May 3, 1948
- Term
- October Term 1947
- Vote
- 5–3
- Majority author
- Justice Jackson (R.H.)
- Issue area
- Federalism
- Disposition
- Reversed and remanded
- Outcome
- Petitioning party won
- Ideological direction
- Liberal
How the Justices voted
- Majority
- Justice R. H. Jackson (wrote), Justice Douglas, Justice Black, Justice Rutledge, Justice Murphy
- Dissenting
- Chief Justice Vinson, Justice Burton, Justice Frankfurter (wrote)
Opinion excerpt
Mr. Justice Jackson delivered the opinion of the Court. This controversy grows out of the voluntary merger of Chesapeake & Ohio Railway Company and Pere Marquette Railway Company, which companies, together with Alleghany Corporation, sought approval by the Interstate Commerce Commission. Pere Marquette is incorporated under the laws of Michigan, while Chesapeake & Ohio is chartered by Virginia. Chesapeake & Ohio acquired and for some years exercised active control of Pere Marquette, whose properties and operations complement rather than compete with those of Chesapeake & Ohio. Late in 1945 merger proceedings were commenced under enabling statutes of the two states and were consummated with approval of considerably more than the number of shares made necessary by statutes of the respective states. The Interstate Commerce Commission found, and there is no attack upon the findings, that the public interest is served by merger and unification of these properties and operations. The Commission also concluded that the plan as a whole, and as applied to each group of shareholders, is just and reasonable, and there is no attack upon this conclusion except that by the appellants which is treated fully herein. Consequently, details of the plan are of little importance to this litigation. Appellants are owners of 2,100 shares of $100 par 5% cumulative preferred stock of Pere Marquette.…
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