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Died. William Smith Mason, 94, historian and philanthropist who labored for 35 years to collect Benjamin Franklin's papers, donated the priceless collection to Yale in 1936; in Rancho Santa Fe, Calif...
...million bond issue be paid up if the B. & O. merges. After that, he intends to push for complete merger of the C. & O. and B. & O., which would create a vast railroad net rivaled only by the Pennsylvania in assets ($2.3 billion) and surpassed only by the Santa Fe in track mileage (11,000). Eventually, Tuohy sees a huge, unified rail system in the East. Says he: "This opens the sluice gates. Wait till we get this merger squared away. I have other ideas already...
INCREASED DIVIDENDS aregoing to shareholders in many companies. Chrysler announced 50? per share extra dividend, Union Pacific 40? per share, Santa Fe 25? per share. American Motors raised its quarterly dividend from 25? to 30? per share; Armour raised its from 30? to 35? per share...
RAIL-CONTROL BATTLE for the Western Pacific, important California rail link, is on between the Southern Pacific and Santa Fe. Southern Pacific started fight by secretly purchasing 10% of Western Pacific; Santa Fe countered by buying 20%. Both now await an Interstate Commerce Commission decision on which will get a clear track to seek control...
...positions if ICC okays the pending merger of the Atlantic Coast Line and the Seaboard. Southern Pacific asked ICC permission to take over the Western Pacific. One approved merger: Chicago & North Western takeover of the Minneapolis and St. Louis to form the second longest U.S. road (after the Santa Fe...