Word: mergers
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Dates: during 1930-1939
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...rejects the Van Sweringen merger as not in the public interest...
...another system. Four-way system competition would be preserved at such important centres as Buffalo, Toledo, Chicago, Detroit, St. Louis. Cincinnati, Cleveland and Pittsburgh. Only the B. & O. would fail to get into Norfolk. No important city which now has competition between two railroads would get less under the merger plan...
...Exiled. New England offered the stiffest problem for this Eastern merger. The I. C. C. cut the knot by excluding New England from present plans. Originally New England was to have two consolidated systems?New Haven and Boston & Maine. Pennsylvania threatened this program when it began buying into the two New England roads. Last week the I. C. C. reported that it controlled 22% of New Haven and, with New Haven, 45% of B. & M. Such penetration by Pennsylvania alarmed the five New England governors who loudly resisted its "monopolistic invasion...
...ready to see the Pennsylvania, already the largest system in the Eastern merger, gobble up New Haven's 2,122 miles and thus unbalance the Eastern map. Therefore the I. C. C. last week decreed that it would approve no merger application from Pennsylvania ''until that railroad either has divested itself of all stock ... in the New Haven and the Boston & Maine or has placed all such stock in the hands of independent trustees approved...
Publishing men have regarded Review of Reviews and World's Work as susceptible to merger. World's Work advertising revenue tumbled from $510,000 in 1929 to $219,760 last year. Review of Reviews' revenue went from $406,960 to $195,000 in the same period. Its circulation...