While the Nickel Plate consolidation has held the headlines, another railway merger involving an even greater mileage has been quietly passing through its preliminary stages. When the Interstate Commerce Commission meets next month, the Missouri Pacific Railroad will apply for permission to acquire the New Orleans, Texas & Mexico Railway, by the issuance of $18,000,000 15-year 7% notes. With the N. O., T. & M., Missouri Pacific will acquire its subsidiary, the International-Great Northern. Missouri Pacific already controls the Texas & Pacific through ownership of $23,703,000 of its $24,676,000 preferred and $10,000,000 of its...
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