Word: icc
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...asking ICC for the boost, which all the railroads want, New York Central's Gustav Metzman also painted a dark picture. Said Metzman: even with the increase, the New York -Central will lose $18,652,000 next year, will have no carryback credits to soften the blow. Reason: the costs of wages and materials of rail roads, and all industry, have soared since war's end far beyond estimates...
...million: $1 million down payment, $65 million on the sale-closing date, $44 million in corporation income debentures. Intending to act as a common carrier (i.e., not engaged in producing refining or marketing petroleum products), Big Inch Oil, Inc. has the added advantage in Government eyes of falling under ICC regulations...
Solvent roads that run into financial trouble may also, under the bill, apply to ICC to ease their obligations. On a two-thirds vote of the creditors, or, failing that, on a two-thirds vote of the stockholders, loans will then be extended or interest rates reduced. What have the bondholders to say? In cases of prolonged disputes, grievances may be referred to the courts...
...critics of the bill charged that boom earnings during the war were not a valid measure of a railroad's stability, made it too easy for shaky roads to qualify for refitted stockholders' management. Others pointed out that the bill exempts future transactions in rail securities from ICC and SEC supervision, leaving the field wide open for speculators. All agreed on one point: that the bill would reverse the usual position and give the stockholder a preferred position over the bondholder...
...Ralph Young has a 1946 batting average of 1,000. First he went to bat for through transcontinental sleeping car service at Chicago and St. Louis-and scored (TIME, April 1). Next time up, he got a base hit on his campaign against the black market in Pullman reservations. ICC approved Pullman's suggested changes on rail reservations...