Word: icc
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Attorneys for other applicants questioned the legality of Fox's ownership of the Post at Washington hearings before an ICC examiner Monday. They cross-examined the Boston publisher about his right to control Post stock, and the recent financial condition of the paper...
...ICC SHAKE-UP will be recommended in a Cabinet committee report going to the President this month. The Committee wants the President to ask Congress for a complete overhaul of ICC rules and policies to do away with red tape (TIME, April 5), give rail and highway carriers more freedom to set their own rates, and allow railroads to cut out money-losing passenger lines without the necessity of getting permission from state regulatory bodies...
RAILROAD v. TRUCK battle for freight business will soon be on a more even footing. The Interstate Commerce Commission ruled that current truck rates on less than carload lots throughout the East and Midwest are too low and constitute "destructive competition." ICC has ordered the truckers to boost rates from 16? to 33? per 100 Ibs. to bring them closer into line with railroad charges...
ROBERT R. YOUNG won an important victory in his battle over reorganization of the bankrupt Missouri Pacific Railroad. The ICC reversed itself, approved a plan that would give some value to 828,395 shares of previously worthless MoPac common stock, 49% of which is owned by Young's Alleghany Corp...
...said Murchison, is that "Young is gun-shy." Young feared that if Alleghany had bought the stock outright in the first place instead of lending the money to the Texans, the Interstate Commerce Commission would not let him vote it in the Central fight. His fears proved baseless, since ICC later ruled that Alleghany could have bought the stock itself...