Word: icc
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Dates: during 1930-1939
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...Consolidations are also impractical because the big roads cannot agree among themselves on which of the little roads they will absorb. ICC, in its Consolidation Plan in 1929, compromised by agreeing to the creation of as many as 21 systems. Plans less influenced by political prudence advocate something more like nine systems; the most drastic one provides for just three systems...
Friends of the Supreme Court in this case were SEC, ICC, Solicitor General Robert H. Jackson. Mr. Douglas thought the Court's friends were right, that the common stockholders had pulled a fast one on the preferred, ruled that they could get their foot inside the door of the reorganized company only if they paid their way in with new money. The decision thus strengthened the hands of bondholders, preferred stockholders in future reorganizations. Wrote Mr. Justice Douglas...
...named Clarence Young Rose wanted permission to continue to operate what he called Georgia Caravan Camps Inc., which consisted of an annual cross-country trip of a large group of adolescents in a fleet of truckbusses, led, for cash, by Mr. Rose. Before granting the license, the ICC thought it wise to have a good look at Clarence Young Rose and the Georgia Caravan Camps Inc. Its findings: Clarence Young Rose is a big handsome 51-year-old bachelor from Atlanta. His friends call him a "terrific salesman." It was in that role, nine years ago, that Mr. Rose organized...
...replacement: tall, handsome Chicago Lawyer Benjamin Wham (rhymes with Tom), writing authority on receiverships and reorganization. His most pressing job (to be shared with C. & E. I.'s crack President C. T. O'Neal): to wind up details of the only Class I reorganization already approved by ICC and Federal courts...
...years competitive bidding by underwriters has been mandatory under ICC regulations for new issues of railroad equipment trust securities. For many more years than that it has been routine in municipal financing. Meanwhile, a growing number of private corporations have cut ties with their traditional banking houses and put new issues on the block, or placed them privately, often getting better prices for their securities...