Word: nickell
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Siam's erstwhile was replaced in 1928 by her silver baht of one hundred satangs. Nickel & bronze satang pieces are legal tender only up to one baht, above which sum debtors must pay silver...
...empty lots-were already successful real estate operators in Cleveland. They had a suburban development called Shaker Heights which needed a rapid transit line to the heart of the city. For a rapid transit line they needed a right of way. They thought of hiring one from the nearby Nickel Plate Road. They went to the New York Central (which owned more than 50% of the stock of the Nickel Plate) and came away not only with a right of way but with a majority interest in the Nickel Plate-the famed New York, Chicago & St. Louis Railroad, built...
...Brothers Van Sweringen did not have $8,500,000 but they had a vision of the Nickel Plate as a profitable road. With two chief associates, Charles L. Bradley, who owned the Cleveland baseball team, and Joseph R. Nutt, chairman of Union Trust Co., and with several lesser associates, they gave the New York Central ten notes for $650,000 payable one a year for ten years, and they also paid down $2,000,000 in cash obtained as a loan from Cleveland's Guardian Savings & Trust Co. by putting up the Nickel Plate stock as collateral...
Step 2. In 1920 came the National Transportation Act, proposing railroad consolidations. Straightway the Van Sweringens sat down to figure out their own consolidation. The Nickel Plate was making money and in 1922 they had it buy and absorb two smaller roads: the Toledo, St. Louis & Western ("Clover Leaf") and the Lake Erie & Western. But the brothers had a more ambitious project; they wanted the Chesapeake & Ohio. A block of 73,000 shares, a minority but practically a controlling interest in the C. & O., was held by the Huntington family of Los Angeles. In 1923 they bought this...
Step 3. With these major holdings assembled, the Van Sweringens went to the Interstate Commerce Commission in 1925 for permission to merge them with the Nickel Plate. The Commission said No. It objected to tying all these roads into the Nickel Plate which was so absolutely controlled by a small group of men, and it objected to certain physical aspects of the consolidation (which would have made the Nickel Plate instead of the C. & O. the backbone of a new system). So the Van Sweringens reversed their plans. The C. & O. became the centre of their schemes. In 1927 they...