Word: peres
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...quickly made it a sound and paying railway. In 1927 he was transferred to the Erie (not to be confused with the Wheeling & Lake Erie) and rapidly rehabilitated this over-capitalized dividend-passer. Last week was announced his appointment as president of both the Chesapeake & Ohio and the Pere Marquette, these making the third and fourth Van Sweringen roads of which he has been president...
...Davidson La Follette will complete Wisconsin's quota. Already present is the image of Jacques, sometimes called Pere ("Father"), Marquette, saintly early navigator of the Mississippi...
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...
...railroads have bought to form system themselves. Between the Mississippi, Great Lakes and Atlantic Seaboard, the Pennsylvania, New York Central and B. & O. were solidly braced to take on smaller lines. The Van Sweringens entered the situation by buying control of the Nickel Plate, Chesapeake & Ohio, Erie, Pere Marquette and Hocking Valley and offering a plan (contested in the event) for unifying them. Leonor Fresnel Loree entered it by control of the Delaware & Hudson and the Wabash, by buying near control of the Lehigh Valley and by getting an option (lapsed in the event) on the Buffalo, Rochester & Pittsburgh...
Expenses. To minority stockholders of the Chesapeake & Ohio R. R. came over $200,000, a voluntary contribution from the Brothers O. P. and M. J. Van Sweringen, to pay the legal expenses of the minority's anti-merger (C. & O., Erie, Hocking Valley, Pere Marquette, Nickel Plate) battle before the Interstate Commerce Commission...