Word: railroads
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
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...
...President further complained that the Commission had yearly asked for repeal of the law requiring it to prepare plans for railroad consolidation. He was also skeptical about the Commission's ability to evaluate the railroads, a problem before it since 1906. But he was inclined to be lenient in this regard, feeling that such valuation is impossible and would cost millions & millions to bring anywhere near completion...
...stockholder in the usual industrial concern generally has little difficulty in assuring himself of the tangible properties back of his engraved certificates. A Pennsylvania Railroad stockholder can visit almost any eastern railroad station and watch his stock come clanging in. A Radio Corporation stockholder can hear his stock coming out of any cigar-store loudspeaker. Yet the type of corporation which is the outstanding feature of today's investment world has physical assets consisting chiefly of office equipment. This corporation is the Investment Trust?a company formed to trade in the stocks of other companies, a company whose stock...
...decision was welcomed by the New York Central. It marked the Commis sion's first favorable decision on a question concerning vital railroad consolidation. Both the Cleveland, Cincinnati, Chicago & St. Louis (the "Big Four") and the Michigan Central have long been New York Central subsidiaries, New York Central owning more than 90% of their stocks. They have been operated as separate units, however, and the New York Central based its consolidation plea on the argument that "the necessity for protecting the earnings of each carrier" prevented complete unification and coordination of the system. A. H. Harris, chairman...
...That designation delighted Newark's Mayor Jerome T. Congleton, who leaves no trick unturned to advance the importance of his city as a sea and air port, as a railroad terminal...