Word: nickel
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Dates: during 1920-1929
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...members of the Interstate Commerce Commission (in Washington) felt that they could do what they would do with a clean conscience. They gave to the press and to the world their decision (agreed to by a 6 to 1 vote, several members not voting) on the proposed Nickel Plate merger...
...decision was the product of many months and some half a million dollars' worth of hearings, not to mention several weeks deliberation on the part of the Commission. The proposal was for a merger of the Nickel Plate (New York, Chicago & St. Louis Railroad Co.) with the Pere Marquette, Erie, Chesapeake & Ohio, and Hocking Valley railroads into a great system with some 9,500 miles of track, connecting New York City and Newport News on the Atlantic coast with Chicago and St. Louis in the interior. It would be a fourth great Eastern railway system rivaling the New York Central...
...directors of two of the roads (the Chesapeake & Ohio and the Hocking Valley) are in majority also directors of the Nickel Plate, and voted these two systems into the merger without proper consideration for the rights of their minority stockholders...
...adverse ruling of the Interstate Commerce Commission with regard to the Van Sweringen railroad merger will probably tend to clarify matters in further transportation consolidation," Professor W. J. Cunningham, Professor of Transportation in the Business School, told a CRIMSON reporter last night in an interview on the recently proposed Nickel Plate merger. "The railroad builders can now know what to expect from the Commission, and thus have a better idea of how to proceed. More over it must be clearly understood that it was the financial and not the transportation side of the affair to which the Commission objected...
...discussing the sudden drop in the stock market Professor Cunningham said that he thought it due more to a natural reaction to the former high inflation than to the effect of the collapse of the Nickel Plate merger, that the bubble of speculation had already reached undue proportions and needed only the prick of some such shock as this to make it burst...