 In July 1948, the Company filed with the Interstate Commerce Commission a copy of a petition to the United States District Court of Wyoming under Section 77 of the U. S. Bankruptcy Act, which asked that the company be reorganized.The petition listed debts of $1,781,931.41 and stated that funds to discharge such debts are not and will not be available.The greatest portion of the debt consisted of $644,940 twenty-year first mortgage sinking fund bonds owned by C. Porter Dickson, President of the Wyoming Railway Company.