Word: court
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Dates: during 1920-1929
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Reporter: "Mr. Ambassador, are you taking any of those silk court knickers with you to London...
...Confirmed: Horace Paul Bestor of St. Louis as a member of the Federal Farm Loan Board; onetime Senator Irwine Luther Lenroot of Wisconsin as a judge in the Court of Customs & Patent Appeals...
Profits on eleven billion dollars swung closer to U. S. railroads and their owners last week when the U. S. Supreme Court decided in favor of the St. Louis and O'Fallon R. R. in its dispute with the Interstate Commerce Commission on the most fundamental issue in the transportation world-valuation. The Supreme Court, five to three, ruled that the I. C. C. had failed to give to "current reproduction value" the consideration Congress intended in the Transportation...
...Congress must be obeyed," declared Justice McReynolds in rendering the majority opinion from which dissented Justices Holmes, Brandeis and Stone. Justice Butler, as a onetime railroad attorney, did not participate in the case. The Court's ruling set at naught the valuation placed by the I. C. C. on the O'Fallon, relieved the road of paying to the U. S. a share of its profits on that valuation and sent rail stocks jubilantly sky-rocketing in Wall Street. C. & O. spurted up 23 points...
...valuation issue with its corollary, confiscation, was clearly posed. The O'Fallon went into court to fight the I. C. C.'s order. The great railroads of the land clustered about the midget line in friendly fashion. St. Louis' lawyer Daniel N. Kirby represented the O'Fallon, Frederick H. Wood of Manhattan's famed law firm of Cravath de Gersdorff, Swaine & Wood, represented the big-brother carriers. The I. C. C. accepted the challenge, named Chicago's Walter L. Fisher, Taft-time Secretary of the Interior, to fight its legal battle. Before a Federal...