Word: nickels
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...following table (from Dow, Jones & Co.) gives 1928 and 1927 surplus after charges and earnings per share of the following roads: 1928 1927 Baltimore & Ohio 28.9 12.35 22.6 9.42 Chesapeake & Ohio 28.7 24.29 28.6 24.19 Erie 10.0 4.93 .5 .63 N. Y. Central 50.3 10.85 58.5 13.90 Nickel Plate 0.3 12.51 6.0 15.41 Pennsylvania 82.5 7.34 68.1 6.82 Illinois Central 13.2 8.96 12.1 8.13 Great Northern 24.7 9.95 22.9 9.23 Northern Pacific 21.1 8.52 18.5 7.7 Santa Fe 49.7 18.00 49.7 18.73 Southern Pacific 40.911.00 36.0 9.66 Union Pacific 44.8 18.40 39.6 16.05 Missouri Pacific...
...tall; he weighed 145 Ibs.; wore unpolished black leather half-shoes, black lisle socks, a grey tweed suit, a taupe-colored felt hat pulled down over his bespectacled hazel eyes. His black, curly hair was awry and needed cutting. His hands were in his pockets, with one nickel, one dime and one quarter. Other people of other descriptions were milling and bumping around him with other gaits. Traffic was moving, rumbling and screeching. The earth quaked from subway trains and building blasting...
Always busy are the Van Sweringen Brothers, Oris Paxton and Mantis James. With plans for a railroad merger including Chesapeake & Ohio, Nickel Plate, Pere Marquette, Erie and subordinate roads held up by the Interstate Commerce Commission, the Van Sweringens have been concentrating on financing rather than on operating. Last week they announced and financed a new Allegheny Corp., holding company for their railroad stocks. An offering of $35,000,000 5% convertible bonds, par 100, was quickly sold (through J. P. Morgan & Co., National City Co., First National Bank, and Guaranty Co.) at a 10-point premium. Later offerings were...
Initial holdings of Allegheny Corp. include shares in Chesapeake Corp., Nickel Plate, Buffalo, Rochester & Pittsburgh, Chesapeake & Ohio and Erie, all of which have been Van Sweringen stocks. The corporation is also empowered to make further investments, principally in railroad stocks. It can therefore function as a railroad investment trust as well as a Van Sweringen holding company. It has, however, no power to operate railroad properties or to engage in banking...
More important than the merger itself was its possible effect upon the status quo existing in the eastern railroad field. There are four main systems: Pennsylvania, New York Central, Baltimore & Ohio and Nickel Plate (Van Sweringen). Four years ago these four railroads held conferences in which the eastern railroad field was tentatively divided among them, but the negotiations were abandoned chiefly because the Pennsylvania did not believe that it had received its proper share of the short lines. Since the failure of these negotiations, no decisive merger movement has taken place. Last fortnight, however, the New York Central secured...