Word: merger
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Dates: during 1920-1929
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While the Nickel Plate consolidation has held the headlines, another railway merger involving an even greater mileage has been quietly passing through its preliminary stages. When the Interstate Commerce Commission meets next month, the Missouri Pacific Railroad will apply for permission to acquire the New Orleans, Texas & Mexico Railway, by the issuance of $18,000,000 15-year 7% notes. With the N. O., T. & M., Missouri Pacific will acquire its subsidiary, the International-Great Northern. Missouri Pacific already controls the Texas & Pacific through ownership of $23,703,000 of its $24,676,000 preferred...
...Missouri Pacific years ago was a "Gould road," and a link in the ambitious transcontinental railway system from the Atlantic to the Pacific which both Jay and George Gould projected. When, after 1907, this plan collapsed, "Mop" fell upon some lean years. Now the great southwestern merger, which it heads, promises to realize partially, yet in fact, the dreams which the Goulds had of its future...
...York, Chicago & St. Louis Railroad Co.), the Erie, the C. & O., the Hocking Valley, and the Pere Marquette. The new company will have two classes of stock, common and 6% preferred, which will be exchanged in varying ratios for the stocks of the several roads going into the merger, on terms apparently favorable to all concerned. On the basis of 1923 earnings of the several roads involved, the new Nickel Plate would earn its fixed charges nearly twice, its preferred 'dividends almost four times, and its common dividends at 6% over twice. The Nickel Plate Railway system will have...
...leading trunk-line railroads into New York have been going on. They have been held alternately in the headquarters of the Pnnsylvania and the New York Central, and besides the representatives of those roads, officials of the B. & O. and the Van Sweringens, heads of the new "Nickel Plate" merger, have attended. The inclusion of the latter, incidentally, proves that they have "arrived" in the railroad sense...
...Another reason why the Southern Pacific wants to go through with this merger [with the El Paso and Southwestern] is because it is now competing with railroads that have a through line to the Great Lakes and Middle-Western cities to the Pacific Coast. We, too, want to be able to say that our lines extend to Chicago from San Francisco, and this merger and a possible merger with the Rock Island system will make it possible for us to say that...